Iraqi MP: There is no financial crisis in the country, but rather corruption and mismanagement

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Iraqi MP: There is no financial crisis in the country, but rather corruption and mismanagement

Iraqi Parliament

 26 October 2020 11:24 AM

Mubasher: A member of the Iraqi parliament, Burhan Al-Mamouri, said that the country is not suffering from a financial crisis, but rather from corruption and mismanagement.

Al-Maamouri added, according to a statement by the Media Department of the House of Representatives, that Iraq is a country with multiple natural resources and diversified goods, and it has sources of financial revenues that make it at the forefront of the richest countries in the world.

Al-Mamouri indicated that the resources of the border crossings, the holy shrines and taxes, if properly utilized, would alone suffice for the people to live in luxury and prosperity.

A member of the Iraqi parliament noted that the quota system that successive governments followed after 2003 is one of the most important causes of the loss of the country's wealth, adding that the lack of use of competencies and economists and placing inappropriate people in financial decision-making centers is one of the most important results of the deterioration that Iraq is going through.

Al-Mamouri pointed out that it is the lack of clarity of the financial system, urgent decisions and useless plans that led to a large waste of public money, but he believes that there is no real financial crisis, but rather, codified corruption and poor planning and management is the reason that brought the country to the brink of economic collapse.

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10/26/2020 12:24

Representative economics submits 6 proposals to correct the course of the monetary and financial process

https://almasalah.com/ar/news/199756/الاقتصاد-النيابية-تقدم-6-مقرحات-لتصحيح-مسار-العملية-النقدية-والمالية

 

Baghdad / Al-Masalla: Member of the Parliamentary Economic and Investment Committee, MP Abdul Salam Al-Maliki, presented, on Monday, October 26, 2020, six proposals regarding the window for selling the currency in order to achieve a correction of the course of the monetary and financial process and to stop the bleeding of hard currency.

Al-Maliki said in an interview reported "The Obelisk" that the economic and health crisis that the country is going through and the need to correct the financial and economic process to bypass it makes us face a legal and moral responsibility to end the currency drain and the exploitation of these conditions by the corrupt, indicating that corruption in private banks and smuggling the country's currency abroad through These banks are all matters that require a serious pause from us to deal with.

Al-Maliki added that there are a number of steps that we propose to the relevant authorities to follow up and implement them regarding the window for selling the currency, including that the bank’s share of foreign cash transfers be one million dollars per month, and that the transfer of sums be done by a documentary credit in accordance with international norms, pointing out that the third proposal is that there be Sale of hard currency for the purposes of travel, treatment and other things to people, with an amount determined by the central bank, which was $ 20,000, according to controls set by the bank.

He continued, as we suggest that there be sales for the purposes of electronic shopping and electronic cards, Visa and Master, and that the official selling price of the dollar be adopted in all operations, stressing that the first steps of the Central Bank of Iraq should be through following up the transfer operations as it is assumed that compliance and money laundering employees In banks, all of the government employees appointed by the Central Bank of Iraq and that the bank pay their salaries only.

Obelisk