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Four billion dinars of counterfeit currency enter monetary transactions in Iraq


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06-05-2019 10:20 AM
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Baghdad

 The former MP Rahim Darraji, the current central bank governor Ali al-Alak full responsibility for the effects of the currency auction, pointing out that the central bank has betrayed the country's great daily by continuing corruption of the currency auction.

 Al-Daraji said in a statement to the "news", that "the current central bank governor on the bear full responsibility for the effects of the currency auction."

 He added that "the central bank and in cooperation with another government bank involved in corruption issues currency auction, and money laundering operations reached billions of dollars through the auction currency and the public prosecutor to move the judiciary and verify suspicions."

 "The parties involved in the case are the Integrity Commission, the Public Prosecution, the Customs Authority and the border crossings, and the government has to ask them questions," Darraji said.

It is noteworthy that the case of corruption of seven billion dinars, which caused by the relationship and put his name on the currency is still vague in the absence of serious seriousness in the investigation of these two files, as well as the continuing corruption in the currency auction, which was announced by a large number of politicians and observers.

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1 hour ago, yota691 said:

…..money laundering operations reached billions of dollars through the auction currency, as well as the continuing corruption in the auction, which was announced by a large number of politicians and observers.

 

Hmmm. We're losing billions through the currency auction, which is obvious to multitudes of politicians. Probably won't amount to much. Nobody will really notice and doubtful it will impact the country as a whole. LOL. 

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Former Minister: Abdul Mahdi does not have the freedom to act .. The Central Bank and theft of 20 million dollars a day

Former Minister: Abdul Mahdi does not have the freedom to act .. The Central Bank and theft of 20 mi 3201920115041182162074

The former Minister of Communications, Mohamed Tawfiq Allawi, that the unification of the dollar exchange rate is the only solution to eliminate the auction currency.
He added that "the theft of the Central Bank exceeds the thefts of ministries and ranges between 15-20 million dollars a day," noting that the events of Syria and the blockade of Iran generated a demand on the dollar, which exacerbated the exchange rate.

 
He stressed that 'Prime Minister Adel Abdul Mahdi does not have the freedom of action and quotas still dominate the political process,' noting that 'most of those who ruled Iraq are not qualified to lead the country'.    

https://www.thebaghdadpost.com/ar/Story/165174/وزير-سابق-عبد-المهدي-لا-يملك-حرية-التصرف-وسرقات-البنك-المركزي-20-مليون-دولار-يوميا
 
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The parties involved in the case are the Integrity Commission, the Public Prosecution, the Customs Authority and the border crossings,

 

 Thanks Yota, 

 That sentence right there about tells the full story why it is still going on. When the committee on integrity and the public prosecution office is running the money laundering operation.  Who is going to stop them?  I have often wondered through these tough economic times when I read all these articles that government employees are not getting paid for months at a time. How do these people survive without a paycheck? It must be the trickle down theory of stolen money. What a way to run a country. 

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4 hours ago, 82Corp. said:

I think it means this "that the unification of the dollar exchange rate is the only solution to eliminate the auction currency."  

 

Get-R-Done Already!

 

Yes it does. I read the whole sentence too. I was asking in particular about the wording "unification of the dollar exchange rare"

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 Do ya suppose they need to talk about this, well til death. They’re still talking about this as if they’ve fully not come to grips with the issue. ...... ( how many years has this broken record been playing this idiotic tune ????)

 

As if talking about it a bit more “ just might do the trick “ - whatever the crap kinda concept that is ! We can’t fix this Shiite Show - no one but they themselves can sort it out, yet it appears they’re unable to figure out how and then proceed ??

 

It’s a race to the finish line to see who’s more Bat Crap crazy .... Iraq or the inmates that run the asylum that is Iran ! 

Iraq is 3 feet from the finish line with Iran hot on their heels.  :bananacamel:

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2 hours ago, Rugbylaird19 said:

Yes it does. I read the whole sentence too. I was asking in particular about the wording "unification of the dollar exchange rare"

I read it as ("in" or "equally") comparison to the USD rate.  The important part I take from the article is they are acknowledging publicly (informing the populous) the daily currency auction is used to fund regional unrest.

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30 minutes ago, 82Corp. said:

I read it as ("in" or "equally") comparison to the USD rate.  The important part I take from the article is they are acknowledging publicly (informing the populous) the daily currency auction is used to fund regional unrest.

Appreciate the response.

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  • yota691 changed the title to Four billion dinars of counterfeit currency enter monetary transactions in Iraq

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Tuesday 07 May 2019 - 01:15
Baghdad - Dr. Hamid Abdullah:

Iraqi banking parties accuse parties, mafia and armed groups of entering large amounts of counterfeit Iraqi currency into daily trading in local markets!

While Iraqi politicians admitted that they were drowning the Iraqi market in counterfeit currency in the time of the former regime, a senior official in the Central Bank of Iraq said that 200 million dinars are discovered monthly by government and private banking agencies.

The Director of the Department of Issuance and Treasury in the Central Bank Jafar Ghulam that 4 billion dinars of counterfeit currency entered daily transactions and that 200 million of them are discovered monthly through citizens who are usually victims of this forgery. 

Politicians opposed to Saddam Hussein's regime acknowledged that, with the help of the Iranian government, they were paying a large block of cash from the counterfeit Iraqi currency to the Iraqi interior, using the printing press at local Iraqi presses following the economic embargo imposed on Iraq in the 1990s.

According to the banking source, it appears that parties and armed groups find in the window of counterfeit currency a door to achieve illegal profits and may find these groups of easy to deal with counterfeit currency within banking companies or even within government banks or through auctions sale of currency in the Central Bank of Iraq .

Data from the Central Bank of Iraq that there are approximately 40 to 45 trillion Iraqi dinars printed in foreign presses on the market in Iraq.

The central bank is forced to replace the paper money categories from time to time or reprint them with the addition of new technical specifications and specifications that hinder attempts to falsify them.

The Association of Banking Companies in Iraq that the owners of exchange companies have resorted to the import of machines dedicated to the counting of the Iraqi currency from Germany and China have the privacy of sorting the real currency of counterfeit to protect themselves from the frauds that cause great damage.

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