Central Bank auctions suspicious and $ 500 million is laundered weekly

[yota691]

Central Bank auctions suspicious and $ 500 million is laundered weekly

The time on Monday, 01 October 1 / Okrudolf 2012 11:54 | |

Baghdad / Orr News

Parliamentary Finance Committee unveiled the results of preliminary investigations into money laundering operations within the central bank about $ 500 million a week and confirmed the move to collect signatures for the formation of an investigative committee competent to determine the fate of that money and users behind.

The MP said Haitham al-Jubouri said there is a committee within calendar Parliament reviewed the documents and official gripping on whether or not to waste public money and the lack of transparency at the central bank auction and other circumstances shrouded in mystery.

He noted that the committee is working under the supervision of First Deputy Speaker of Parliament Qusay al-Suhail and include Chairman of the Finance Committee and Chairman of the Committee on Economy and Investment and Chairman of the Board of Supreme Audit and other deputies. He Jubouri he adopted collecting signatures about 85 deputies to demand the formation of an investigative committee competent to audit those documents and activating the anti-money laundering, noting that there are documents from a big rig in the central bank auction for the period between February to the month of August for the current year 2012. Said member Parliamentary Finance Committee that indicators that conclusions of the documents supporting the existence of billions of dinars capital registered with the Central Bank, but investing outside Iraq.

He pointed out that the central bank sold during the month of May last about four billion dollars was transferred abroad. But Jubouri returned to say that those who have such high liquidity do not find it competing by implemented and it does not represent individuals, but official bodies window, as described, accusing some departments of foreign banks operating in Iraq of complicity in money laundering operations, and pointed out that one of the Gulf banks carries on his work in Baghdad from a rented apartment downtown and owns Treasury bonds and balances and bank guarantees worth billions of dinars.

He stressed that the need has become urgent to activate the anti-money laundering law and change the departments of the Central Bank, particularly banking operations control department, which works incorrectly and not accurate leaves ample room for manipulation operations and waste of public money.

http://www.uragency.net/2012-03-11-16-31-52/2012-03-11-16-33-57/10522-655557669766352-666.html

[Butifldrm]

GM, yota. I thought I read about a week ago, where the investigation on the CBI found no wrong doing, and now Maliki is at it again.

[uncirculd]

This freak maliki will stop at nothing to stop progress and keep himself as a dictator. If he gets his hands on the countries wealth it's over. He has tried on 3 occasions and that's just what we know of. If he is not taken out of the picture completely this country will go back to Saddams era, same game, different players. Him and his gang of ministers need to lose their majority so they can't stop progress. Then they need to all be tried in criminal court and let the country know exactly what their PM has been up to.

[Dalite]

Said member Parliamentary Finance Committee that indicators that conclusions of the documents supporting the existence of billions of dinars capital registered with the Central Bank, but investing outside Iraq.

Imagine that.

Who would have thunk it that currency speculators waiting on the CBI to give value to their dinar are the reason parliament won't cooperate with the CBI?

Let's hope these bozos are at least as dumb as they act, and not find the correlation.

Looks like they already think the CBI records show it in circulation, but what they apparently haven't found out is that it is in shoeboxes and sock drawers around the world.

[fastarnie]

Imagine that.

Who would have thunk it that currency speculators waiting on the CBI to give value to their dinar are the reason parliament won't cooperate with the CBI?

Let's hope these bozos are at least as dumb as they act, and not find the correlation.

Looks like they already think the CBI records show it in circulation, but what they apparently haven't found out is that it is in shoeboxes and sock drawers around the world.

I'm glad to that it is billions, and not trillions like people have said.

[zigmeister]

I'm glad to that it is billions, and not trillions like people have said.

hmmm good catch fastarnie.

[Markinsa]

Imagine that.

Who would have thunk it that currency speculators waiting on the CBI to give value to their dinar are the reason parliament won't cooperate with the CBI?

Let's hope these bozos are at least as dumb as they act, and not find the correlation.

Looks like they already think the CBI records show it in circulation, but what they apparently haven't found out is that it is in shoeboxes and sock drawers around the world.

I'm sorry everyone they caught me! Its all my fault!!!

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[CrappieShark]

I wonder if maybe just maybe the central bank is behind the selling of dinars to foreign investors "us" and then makes billions of USD through the sales of dinar. Makes sense to me. Now the Iraqis have a moral dilemma. If we have sold money promising a large return then how do we elim inate the zeros and make the money sold equal to no profit when it was sold with a promise of a high rate of return. I think this is the argument that keeps getting kicked around by these folks. You have a moral religious standpoint and a economic greedy standpoint. Which one wins? That is what I believe is going on right now with these people. Just my own two cents worth.

[MrFnHappy]

I wonder if maybe just maybe the central bank is behind the selling of dinars to foreign investors "us" and then makes billions of USD through the sales of dinar. Makes sense to me. Now the Iraqis have a moral dilemma. If we have sold money promising a large return then how do we elim inate the zeros and make the money sold equal to no profit when it was sold with a promise of a high rate of return. I think this is the argument that keeps getting kicked around by these folks. You have a moral religious standpoint and a economic greedy standpoint. Which one wins? That is what I believe is going on right now with these people. Just my own two cents worth.

Unfortunately, neither the Iraqi Gov't or the CBI ever promised a large return on the dinar.

[CrappieShark]

That may be true. But you have to be like a hound dawg and follow the trail. Somebody gave new currency to somebody else to sell to others with the hopes and promise of a large return. If there was no return nobody would buy it. Somebody pays pumpers to keep pumping as it were. The somebodies have to be those who were in control of the money to begin with. They may not have made the original promise but they definitely were the promoters of it making them guilty by association. Supply and demand my friend. Without Money no Promotors. No hopes of gain no investors. No investors no problems. The money was provided by someone. It is legal money so it had a source.

Unfortunately, neither the Iraqi Gov't or the CBI ever promised a large return on the dinar.