Parliamentary Integrity: the assignment of corruption files into private banks judiciary

[yota691]

Parliamentary Integrity: the assignment of corruption files into private banks judiciary

Political

 Since 03/07/2016 13:18 pm (Baghdad time)

Special - balances News

Admitted to the Parliamentary Integrity Commission, on Monday, all civil investigations of banks is completed and forwarded to the Integrity Commission and the judiciary, describing those banks as "shops" to sell the currency and smuggling of currency abroad.

Said committee member Mohamed fact that L / balance News /, "The committee began an extensive investigation into the work of private banks and responded to it by Akhbarat this regard where he was awarded a number of those banks files into the Integrity Commission and the Iraqi judiciary and timely issued arrest warrants and Astkdamat toward managers number from private banks, "noting that" measures have been taken and were different and disparate judicial rulings in this regard. "

He added that "the files relating to banks and civil varied including those related to money laundering and the other is the existence of suspicions of corruption in connection with the work of those banks where the most Alakhbarat received by the Commission confirm that some of those working in Iraq banks just" shops "to sell the currency shall not exercise its banking customary form a globally assigned to it according to the law. "

He pointed out that it "was a means of money laundering and smuggling of currency abroad," explaining that "the Commission stressed the central bank to take legal measures lead to the provisions of the work of these banks."

He explained that "the central bank move a number of cases against a number of banks in the past and the imposition of various fines as a result of financial and administrative irregularities by those banks," noting that "most of the criminal cases brought by the Central Bank decided by the Iraqi judiciary issued various provisions to fine those banks ".

It is said that the Parliamentary Integrity Commission member Adel Nouri revealed, earlier, to contain the currency auction of the massive smuggling of state funds operations in addition to fit on a forged bonds, while noting that the Commission has developed community banks in the black list. is over

From: Nur al-Din Wahba 

[sandfly]

THANKS

[yota691]

Tamimi: central policy to sell dollar reserves and serve the corrupt Bank of $ 50 billion

History of edits:: 07/03/2016 23:58 • 159 visits readable

[Oan- Baghdad] 
described a member of the parliamentary finance committee Majida al - Tamimi, the Iraqi Central Bank 's policy in Mzadeh to sell the currency as "serving the corrupt." According to the plan.

Said al - Tamimi told all of Iraq [where] that "what goes into the oil imports go to auction currency the central bank , which sells more of them and continue this non - trump politics is a service of the corrupt." 
It added that " the Finance Committee plans to host the central bank governor [agency] on the Keywords with Other parties to discuss this matter. " 
Tamimi pointed out that the committee had raised the bank 's governor at a meeting earlier with" a number of questions, including that which buys dollar traders are supposed to enter products for the same amount that he bought from the auction currency, but what are the guarantees for that and he [any merchant] dollar may sell to others or perhaps imported goods is less than the amount bought from the currency. " 
she continued , " We also asked the governor to present his vision of how to control this issue because traders are bringing false invoices for the introduction of goods which in real not imported or she is less than the amount. " 
she drew Tamimi that" the amount of central bank reserves from the dollar in the last number have informed the Bank that $ 59 billion, but I do not think it is true , which is logical because there are sales going on to the bank ,and in my view that this figure is not accurate it is probably at the beginning of the fifty billion dollars. " 
the statistics of the Central Bank of Iraq reported the sale of the bank $ 2.5 billion during the month of February the second Mnkhvzh more than $ 800 million from January last , who sold the bank more than $ 3.3 billion. 
it was noted recently that sales Central auction recorded a decrease was the lowest it months ago where he did not exceed the number of the 100 million days barrier compared to previous - month period and even after the financial crisis that began with a decline in oil prices in July 2014 were ranging from 225 to 300 million dollars and sometimes more. 
and raised suspicions of corruption and operations money laundering through the central bank auction as announced, specializing in national integrity and economic crime and money laundering a misdemeanor court, on 20 August issued sentences of imprisonment and a fine against officials in the Rafidain and the north after being convicted on charges of corruption and money laundering, banner earlier in the presence of 20 defendants in these cases , some degree of chairman. "

[yota691]

The corruption of the currency auction in Iraq

March 8, 2016 in the Publications comments on corruption in Iraq 's currency auction closed

 

The economic challenges faced by the current Iraqi government may be harshest in the history of modern Iraq; The economy is a yield depends entirely on oil revenues ,which account for 90% of its imports, and as a result of crisis , oil prices , the Iraqi economy has received numerous tremors internally and externally, most recently reduced its credit ratings to "negative" by the agency "Fitch" global. 
The other part of the crisis is financial and administrative corruption; and that includes with it a lot of files that strain the Iraq and the economy, not to mention the displacement crisis and the war on organizing "Daash" and the loss of a lot of the capabilities of Iraq. 
did not stop the torrent of waste and corruption that drove Iraq to the brink of economic collapse, but still the country 's ministries and sectors various rife with corruption and quotas. 
We have uncovered a document issued by the Finance Committee in the House of Representatives, that Iraq 's oil revenues during the past two months totaled 3 billion and 269 million dollars, and compared to the previous figures note that the sum of central bank sales of the currency in the same period has exceeded oil revenues as It amounted to 5 billion and 821 million dollars as it will appear in the following table number "2".

Table 1

And it appears in the document bypass "the state's oil revenues for the month of January last billion and $ 643 million, while state revenues in February from the sale of oil and 625 billion dollars."

Table 2

As for the sales of central bank foreign currency for the month of January it amounted to 3 billion and $ 318 million, as the bank 's sales in the month of February amounted to two billion and 503 million dollars. 
The parliamentary Finance Committee confirmed that the continuation of the central bank sold the dollar is greater than Iraq 's revenues from the foreign currency amounts as a result of the export of crude oil is the "service of the corrupt." 
she drew MP Magda Tamimi that " the amount of central bank reserves from the dollar in the last number have informed the Bank that $ 59 billion, but I do not think it is true it is illogical because there is a continuing sales of the bank , and this figure is not accurate it is probably at the beginning of the fifty billion dollars. " 
the central bank had sold in the last two volumes of the dollar two months exceeded Iraq 's revenues from the export of crude oil. 
and published economic reports that the Iraqi Central Bank sold more than $ 44 billion in foreign currency auction during the last year. 
According to reports that since the establishment of the Central Bank auction to sell the dollar to banks and corporate banking in 2004, central bank sales amounted to more than $ 312 billion since its inception, valued at 1180 dinars to the dollar, it has transformed 80% of these funds out of Iraq , while 20 percent have entered into the market. 
and emphasizes the facts that the file corruption auction very large currency and Iraqi funds were stolen through auction currency in accordance with the fake contracts, a hushed previous governments on these abuses, which alerted many economists and parliamentarians to looting studied in the bank for the central and the government overlooked is a sign that the parties and political figures the gangs involved in these processes, Banks constitute interfaces to the politicians and corrupt. 
in fact , the basis of many of the data , we can only say that the collapse in oil prices has revealed the fragility of the Iraqi economy and revealed corruption cases hushed by successive governments, the economic situation in Iraq is catastrophic already, and the Treasury today empty and burdened the budget deficit, and the debt on the rise, coupled with rampant corruption and the absence of control over the work of the Central Bank, which may be the most important failure and collapse of the economy factors, and with this bitter reality the hopes of the Iraqi citizen fade any economic reform intended.

Amer Al-Omran

Links for Research and Strategic Studies Center

[Synopsis]

The last article states, "It added that " the Finance Committee plans to host the central bank governor [agency] on the Keywords with Other parties to discuss this matter." Tamimi pointed out that the committee had raised the bank 's governor at a meeting earlier with" a number of questions, including that which buys dollar traders are supposed to enter products for the same amount that he bought from the auction currency, but what are the guarantees for that and he [any merchant] dollar may sell to others or perhaps imported goods is less than the amount bought from the currency."

 

I suspect the SMPs of the IMF (announced arrival at the CBI circa January 2016) are uncovering/producing documented information on the excessive dollars purchased for a reduced amount of products.  If this is the case, likely no wonder the currency auctions have trended downward.  Looks like the currency auctions may be indicating now a more realistic amount of products purchased.  I suspect there is still some corruption but likely the corruption will decrease substantially over time.


 

[calkid11]

Thank you Yota