Tuesday , February 11, 2014
Confirmed by experts and traders, bankers it has become clear that the Central Bank of Iraq's recent forced private banks to deposit large sums of money in the fund went against the selling rates for these banks and a sharp decline the value of the Iraqi dinar in the local market that the beneficiary of the two banks close to the central bank are: Bank of Huda to its owner Hamad al-Moussawi Bank country to its owner Ali Ghulam and these banks special favor with the Central and are the only ones who easy for them sell the currency at the expense of other banks.
And pointed out that he had known about these two banks proximity of the Shiite Islamist parties influential and distinguished relations with Iranian banks in respect of conversion of hard currency and especially the dollar brought in under international sanctions harsh imposed on Iran for years.
confirmed bankers that the profits these banks have reached as a result of the implementation of the Central Bank of the last to one million dollars a day for each of them as a result of these routine procedures and bureaucracy that hinder the sale of the currency to other banks. They pointed out that the General Directorate of Operations Finance and Debt Department / Department of the cash reserve, which is headed by Director General of the agency Firat Shaker Mohammed plays hinders up to refrain from selling the currency for the rest of the banks except bank Huda and the country.
pointed bankers to be influential in the central bank and those who stand behind the politicians and influential relationships with government agencies and partisan window issue is usually the decisions of a new be to serve their partners because they were before these decisions are aware of them Verhtbaun their earlier while surprised banks by and confused dealings because of it.
They noted that all the world's central banks put money with private banks to support While in Iraq alone, the opposite will happen .. Everyone steals and seeks to tamper with the economy and guide shops Banking received amounts of up to 16 million dollars per day in order to break the role of large banks and their dealings in the market as there are frantic attempts to close these banks for the benefit of banks, small-run and dominated dealings and benefit from the profits a handful of influential associated with their presence Some of the icons at the top of the pyramid of power.
Experts stressed that the last instructions of the Central Bank may have caused upheaval significant among the Iraqi banking sector had a negative impact on the overall economic movement which threatens the national economy in a state of recession crippling the entire sectors where required the instruction of private banks and private freeze the bulk of their assets with the Central Bank up to a whole about three trillion dinars withdraw from circulation, prompting these experts to wonder, saying: What will be the commercial exchanges? Will come back to the eras of barter? . They said confusion and surprise prevail private banking sector is currently in Atfagahm concern among investors as a result of the direction of the shares of banks to a major setback.
And on Tuesday it was announced in Baghdad for lower sales of the Iraqi Central Bank of the dollar at an auction sale and purchase of foreign currency to 153 million and 230 000 dollars has been involved in the auction sell the currency today 19 banks waged ruled Bank within attempts to dominate the currency amount of 104.083 million dollars from banks participated in the auction, claiming that it was for the purposes of auditing and other related to combating money laundering.
And Iraqi central bank held six auction sessions per week for the sale and purchase of foreign currencies, starting from Saturday to Thursday.
And the bank charges a commission of 13 dinars per dollar, with a deduction of 8 dinars per dollar amounts purchased for any dollar that the purchase price is equal to the cash price for cash sales of $ 8 dinars less.