CBI: The black market to dominate the Iraqi economy

[Carrello]

Central Bank: the black market to dominate the Iraqi economy

02/05/2012

BAGHDAD - The Citizen

almowatennews.com

The Central Bank of Iraq to the black market is the dominant economic transactions taking place in the country, in reference to find the application of the bank's decision to disclose trading in hard currency.

The deputy governor of the Central Bank of appearance of Dr. Mohamed Saleh was quoted Baghdadi News that «it became clear that the black market is dominant on the Iraqi economy by virtue of economic transactions large taking place in the market», indicating that «when we asked the banks to bring instruments to find out who buys the dollar did not comes from sales of $ 300 million only three million dollars ».

However, the benefit that« some transactions on the black market is contrary to the laws, but traders insist on hiding from formal institutions because of low culture, economic and tax evasion », adding that« it is regrettable to note that everyone prefers to work in the dark and away from light, and in Iraq there are dealers buying and selling millions of dollars but avoid opening a bank account to identify themselves ».

The Deputy Governor of the Central Bank that «a lot of traders entering the windows of the central bank through banks the names of others or using aliases or through a fictitious company, although some of them practiced business operations are correct, but there is a fear of openness with the official institutions, in addition to those who violate laws and engaged in illegal activities ».

The central bank took the decision to compel banks to disclose their customers who buy foreign currency, after what was known of the smuggling of large hard currency to Syria and Iran after the economic sanctions that have increased global demand for the dollar in these countries.

[Abarvets]

Thank you Carrello. I know of one way to get rid of the black market........................

[yota691]

Central Bank: the black market to dominate the Iraqi economy

06/02/2012 PM - 10:31 AM

The Central Bank of Iraq to the black market is the dominant economic transactions taking place in the country, in reference to find the application of the bank's decision to disclose trading in hard currency.

Deputy Central Bank Governor Dr appearance of Mohammed in a press statement «is becoming clear that the black market is dominant on the Iraqi economy by virtue of economic transactions large witnessed by the market», indicating that «when we asked the banks to bring instruments to find out who buys the dollar did not come to us from the sale of $ 300 million only three million dollars ». However, the benefit that« some transactions on the black market is contrary to the laws, but traders insist on hiding from formal institutions because of low culture, economic and tax evasion », adding that« it is regrettable to note that everyone prefers to work in the dark and away for the light, and in Iraq there are dealers buying and selling millions of dollars but avoid opening a bank account to identify themselves ».

The Deputy Governor of the Central Bank that «a lot of traders entering the windows of the central bank through banks the names of others or using aliases or through a fictitious company, although some of them practiced business operations are correct, but there is a fear of openness with the official institutions, in addition to those who violate laws and engaged in illegal activities ».

http://translate.goo...le%26id%3D68016

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[zigmeister]

Thanks Ms C for the post.

[SgtFuryUSCZ]

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Guess a certain amount of this is going to continue no matter what they do...

Back-dealing in the filtered light of the carpet n' camel trading bazaars -

been a way of life for centuries & they just can't help themselves, can they....

I'd like to think an RV could empower the people just enough to make them get away from this sort of thing.

I don't know... how long would it take to change thousands of years of behaviour? Dr. Leaky..?