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Advisor for the future: community banks monopoly of hard currency and exploit security situation

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rocky
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Advisor for the future: community banks monopoly of hard currency and exploit security situation

Post by rocky on Mon 16 Jun 2014, 9:17 am

Advisor for the future: community banks monopoly of hard currency and exploit security situation





06/15/20140 
The central bank adviser said the former Iraqi appearance of Mohammed Saleh, said that some private banks are working for their personal interests without restraint in the conduct of speculative cash to monopolize the dollar, calling for the monetary authorityto be held accountable immediately. 
Saleh said in a statement the "future" yesterday (Saturday June 14, 2014) that the high exchange rate of the dollar in financial transactions in the capital Baghdad, which 
eached to about (123) thousand dinars, compared to the category of U.S. $ 100, was 
due to the unstable security situation and violence that allowed the existence of a state 
of chaos in the conduct of monetary speculation by private banks, describing the 
increasing popularity and demand for the U.S. dollar and foreign currency in Iraq, 
currently about it is natural. 
Saleh added that there was panic in the Iraqi society has led in turn to the presence of 

Iqbal unrivaled on the purchase of hard currency to protect themselves from any real 

risk of life-threatening, adding that the security situation is the current of the cause to 

find a kind of mess to deal in hard currency by different entities. 
He stressed adviser to the CBI the past that private banks doubled now from speculative 

operations or what is known as "dollar cash" and $ 5,000 and received by the citizen 

who wishes to travel to meet with presenting his passport or identity card, indicating 

that some private banks take advantage of this process to get substantial financial gains 

through the monopoly of foreign currency, which can be manipulated through control of 

the operations of the supply and demand condition activation procedures exchange 

foreign currency. Saleh pointed out that speculative operations by private banks in the 

monopoly of the dollar and increase profits will create an atmosphere uncomfortable for 

the Iraqi economy, and said the embargo on the monetary authority to monitor the 

situation immediately and evaluation of pumping dollars of transactions sufficient to 

him, stressing that the committees of inspection and checking on speculation in private 

banks exist but they do not work in the case of the volatile security situation currently 

Masterk a big impact on the local business market. 

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