Corruption scorched auction currency after the disclosure of false invoices for fake goods

[yota691]

National banks touched the door of the auction of currency through false invoices for fake goods

 

Tuesday 27 March

 

 

 

 

 

 

Alsumaria News / Baghdad  It seems that the auction of the currency, is still tainted by corruption because of some private banks continue to provide false documents and invoices for the purpose of the import of goods, which are often fake, which reflected negatively on the reserves of the Central Bank of foreign currency.  Those banks considered it a lot of specialists that it is a "glamorous facades" living on the currency auction more than contribute to the development of the national economy.   False invoices and the depletion of the coin  says the Committee on Economy and Investment parliamentary member Harith al-Harthy , in an interview with Alsumaria's News, said that " the issue of auction currency and the corruption that exists in it is something we discussed a lot and touched him media several times, and there are many pleas to stop this bleeding currency, indicating that there is the import of goods Non-important and counterfeit bills that drained hard currency through the currency auction. "  Al-Harithi added that "the Central Bank has prepared lists of parties that violate the currency auction or that have suspicions of corruption or exploitation of the auction," pointing out that "the regulatory bodies, including the Office of Financial Supervision is working to take punitive measures against them." For his part, MP Amin Bakr said in an interview with Alsumaria News that "there are some private banks are full of suspicions of corruption and money laundering is done through the submission of import invoices for goods which are forged in order to enter the auction currency," noting that "these funds come out without the entry of any goods."  "There is a lack of regulatory bodies that should pursue such issues because they negatively affect the national economy," Baker said.  Buildings fake banks empty  says economist and financial expert Hilal Miller in an interview with Alsumaria, he said that "more private banks operating in Iraq are just fake buildings hanging by the boards of banks and have only guards and do not have employees and are these banks to trade auction currency for the purpose of making a profit and a lot of money without Provide any banking services similar to the countries of the world and even the neighboring countries of Iraq. " "The central bank's auction is supposed to be temporary for a situation that the Iraqi economy has lived under in certain circumstances and it must stop after that, but it has continued for many years, which will negatively affect the Iraqi economy," he added.  And demands the miller of "the central bank the need to tighten control on these banks and auditing and take deterrent measures against banks and the violation of the imaginary," stressing that "there are suspicions of corruption to many of these banks, especially in the currency auction conducted by the Central Bank."  "The process that is supposed to be in the auction is to cover the sales of the dollar to what is imported from the goods from abroad and not given individually and go to a certain category at the expense of the citizen and his benefit," says economist Jamil Antoine in an interview with Alsumaria News. Antoine points out that "the best solution to prevent the process of corruption in the auction is the commitment to documentary credits to buy the dollar," pointing out that "the imbalance is due to the policy of the state on the pretext that they closed the control department in the central bank."  For his part, says economist Habib Hassan al-Qara Guli in an interview for Alsumaria News, "What happens at the auction of currency is smuggling and laundering of money," stressing that "this is harming the Iraqi economy."  "Most of the private banks in Iraq were opened in partnership with investors from the Gulf countries and foreign countries, so it is these are the ones who control these banks and the money and profits go to their accounts and do not make use of the public but the simple ones," he added, adding that " The only benefit they get is the employees in these banks by giving them some very simple financial concessions. " For his part, says economist Abdul Rahman al-Mashhadani in an interview for Alsumaria News, "The corruption continues to be at the auction of the currency in which the commercial banks and banking offices where some traders provide false import documents to private banks and commercial banks are the fraud Documents for the purpose of obtaining the dollar for profit, not for the purpose of covering imports. "  He added that "we need to check and study to know the rates of corruption in this matter, which is so far unknown," stressing that "the duty of the money laundering office in the Central Bank and other commercial banks to do their work to prevent such corruption so as not to adversely affect the Iraqi economy and "This money does not go to finance terrorist operations." "The sale of dollars to banks must be matched by the entry of imported goods in the same amount, but what is happening is otherwise, which raises doubts about where the money goes," Mashhadani said.  The Central Bank of Iraq sells the dollar to private banks and financial transfer companies through the auction, which is conducted daily and the amount of 150 million dollars, which increase these numbers or fall on demand by these banks, which affects one way or another on the reserves of the Central Bank of Iraq, which affected significantly in recent times As a result of the lack of adaptation between the dollar and between the sale through the auction.

[DetroittoAZ]

Great article, Seems like the auctions don't have much ⌛ left. 

[Donziman]

The people in charge have known this for years. The problem is every one of these individuals Is getting

rich many times over. If you were them would you put a stop to your own "Gravy Train" ???

[Donziman]

Now that i think about i might want to buy one of those old Hollywood sets with a building

that says  TOWN BANK  my hours of operation 9am to 901am  lol

[yota691]

National banks touched the door of the auction of currency through false invoices for fake goods

In the economy  March 27, 2018 to private banks touched the door of the auction of currency through false invoices for fake goods closed 240 visits

 

Baghdad / SNG

It seems that the currency auction is still plagued by corruption because some private banks continue to provide false documents and invoices for the purpose of importing goods that are often fake, which negatively affects the central bank's reserve of foreign currency.

 

 

Those banks considered it a lot of specialists that it is a "glamorous facades" living on the currency auction more than contribute to the development of the national economy.

Fake bills and depletion of currency 
says member of the Committee of Economy and Investment Parliamentary Harith al-Harthy said in an interview that "the issue of currency auction and corruption in it is something that has been discussed a lot and touched on the media several times, and there are many appeals to stop this bleeding in the currency, indicating that there is import of non-important goods and false invoices that exhausted the hard currency through the auction currency" .

 

Al-Harithi added that "the Central Bank has prepared lists of parties that violate the currency auction or that have suspicions of corruption or exploitation of the auction," pointing out that "the regulatory bodies, including the Office of Financial Supervision is working to take punitive measures against them."

For his part, MP Amin Bakr said in an interview with a journalist that "there are some private banks are full of suspicions of corruption and money laundering is done through the submission of import invoices for goods that are forged in order to enter the auction currency," noting that "these funds come out without the entry of any goods."

"There is a lack of regulatory bodies that should pursue such issues because they negatively affect the national economy," Baker said.

Fake buildings for empty banks

Says economist and financial Hilal al-Tahan, "The most private banks operating in Iraq is just a fictitious buildings suspended by the boards of banks and have only guards and does not have employees and these banks to trade the currency auction for the purpose of achieving profits and large funds without providing any banking services similar to the countries of the world and even the neighboring countries of Iraq.

"The central bank's auction is supposed to be temporary for a situation that the Iraqi economy has lived under in certain circumstances and it must stop after that, but it has continued for many years, which will negatively affect the Iraqi economy," he added.

And demands the miller of "the central bank the need to tighten control on these banks and auditing and take deterrent measures against banks and the violation of the imaginary," stressing that "there are suspicions of corruption to many of these banks, especially in the currency auction conducted by the Central Bank."

"The process that is supposed to be in the auction is to cover the sales of dollars to the imported goods from abroad and not given individually and go to a certain category at the expense of the citizen and his benefit," says economist Jamil Antoine.

Antoine points out that "the best solution to prevent the process of corruption in the auction is the commitment to documentary credits to buy the dollar," pointing out that "the imbalance is due to the policy of the state on the pretext that they closed the control department in the central bank."

For his part, says economist Habib Hassan al-Qara Guli in an interview, "What is happening at the auction of currency is smuggling and laundering of money," stressing that "this affects the Iraqi economy."

"Most of the private banks in Iraq have been opened in partnership with investors from the Gulf countries and foreign countries, so it is these are the ones who control these banks and the money and profits go to their accounts and do not benefit the public except the simple ones," he added, adding that " The only benefit they get is the employees in these banks by giving them some very simple financial concessions. " 
For his part, the economist Abdul Rahman al-Mashhadani said in an interview, "The corruption continues to be at the auction of the currency in which the commercial banks and banking offices where some traders provide false import documents to private banks and commercial banks are the fraud of these documents for the purpose of obtaining On the dollar for profit, not for the purpose of covering imports. "

He added that "we need to check and study to know the rates of corruption in this matter, which is so far unknown," stressing that "the duty of the money laundering office in the Central Bank and other commercial banks to do their work to prevent such corruption so as not to adversely affect the Iraqi economy and "This money does not go to finance terrorist operations."

"The sale of dollars to banks must be matched by the entry of imported goods in the same amount, but what is happening is otherwise, which raises doubts about where the money goes," Mashhadani said.

It is based The Central Bank of Iraq to sell the dollar to private banks and financial transfer companies through the auction, which is conducted daily and the amount of $ 150 million, which increase these numbers or decrease on demand by these banks, which affects one way or another on the reserves of the Central Bank of Iraq, Non-compliance between the dollar and the sale through the auction.

[yota691]

Video: Corruption scorched auction currency after the disclosure of false invoices for fake goods

 

Thursday March 29

 

 

 

 

 

It seems that the currency auction is still plagued by corruption because some private banks continue to provide false documents and invoices for the purpose of importing goods that are often fake, which negatively affects the central bank's reserve of foreign currency. Those banks considered it a lot of specialists that it is a "glamorous facades" living on the currency auction more than contribute to the development of the national economy.  Members of the Committee on Economy and Investment Parliamentary say that the issue of currency auction and corruption in it is something that has been discussed a lot and touched the media several times, and there are many appeals to stop this bleeding in the currency, stressing that the Central Bank has prepared lists of parties that violate the currency auction or that have suspicions of corruption or Exploitation of the auction, pointing out that the regulatory bodies, including the Office of Financial Supervision is working to take punitive measures against them.       On the other hand, economic experts confirm that the most private banks operating in Iraq are just fictitious buildings do not have employees and these banks trade currency auction for the purpose of achieving profits and huge money without providing any banking services similar to the countries of the world and even neighboring countries. Some believe that the best solution to prevent the corruption process in the auction is the commitment to letters of credit for the purchase of the dollar, noting that the imbalance is due to the policy of the state on the pretext that they closed the control department in the central bank.  The Central Bank of Iraq sells the dollar to the private banks and financial transfer companies through the auction, which is conducted daily and the amount of 150 million dollars, which increase these numbers or fall on demand by these banks, which affects one way or another on the reserves of the Central Bank of Iraq.  You can view the report on the video above.

[dinarham]

      If you go down the rabbit holes on the cbi website ,  you will  find  that  the text is so unprofessional ,  if not downright absurd . It's fun !   It makes you wonder Who is writing this stuff ?  Maliki on crack after 6 double fireballs while wearing his neon orange speedos  with his dark socks on ?  

[yota691]

On 3/29/2018 at 10:21 PM, dinarham said:

Who is writing this stuff ? 

You don't believe the content..I do...More to this then just ink on paper...

[blueskyline]

Thank You Yota . GE DV's

[ChuckFinley]

Corruption is a way of life over there. This will be tough to undo, but it is moving forward.