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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Huge commissions to the banks of the civil sell the dollar

    Rocky
    Rocky
    Rocky
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    Posts : 269106
    Join date : 2012-12-21
    • Post n°1

    Huge commissions to the banks of the civil sell the dollar Empty Huge commissions to the banks of the civil sell the dollar

    Post by Rocky Sun 03 Aug 2014, 4:15 pm

    Huge commissions to the banks of the civil sell the dollar



    03082014

    Amid the presence of the phenomenon of intermediaries parasites

    Varied views of MPs and economists about the commission large obtained by private banks through the central bank auction day to sell the dollar, where some criticized the policy of the bank and the method of preference for some private banks and not others, spoke with another on the need to assign these banks to move the investment process in the country.

    A member of the parliamentary Finance Committee said Abdul Hussain al-Yasiri currency auction was established at the time of the former regime to control the significant decline of the dinar against the dollar as the cause of financial and economic crises, but according to specific amounts not to exceed $ 300 million and market needs in a timely manner.

    He added either after the 2003 coalition forces have worked to expand the currency auction through open ports purchasing dollars unconditionally to the citizens what the cause of conversion processes are very large sums of money out of the country and it is a waste of national wealth, great.

    He stressed the need to develop Yasiri controls and new selectors enables companies and individuals from buying the dollar without circumventing the law and not, as is happening now request a passport or a certificate of import and export, and other steps to Atnm vision for economic and financial professional

    He said the Central Bank of the previous administration is responsible for the decline in the exchange rate of the dinar against the dollar and putting it plans timely and confusing, and a preference for private banks without other trading millions of dollars a day.

    He pointed to the existence of the phenomenon of parasitic middlemen who work in contravention of the law to reap profits by exploiting the fictional gaps to plan for the process of selling the dollar. For his part, member of the Committee on Economy and Investment parliamentary Mahma Khalil that the policy of the central bank depends on the basic foundation is to maintain the power of the Iraqi dinar, which is the identity of the country's economic front of other currencies, adding that changes internal and external political instability and security contributed significantly to impact on the national economy, especially the exchange rate of the dinar against the dollar.

    Khalil said, despite the implications of the developments of the economies of neighboring countries in an economic blockade of Iran to the security situation in Syria is turbulent, the central bank could result right policies and good taken to maintain the power of the dinar and the ease of trading by companies and citizens to sustain the economy

    He said the daily process of speculation by individuals and companies on the exotic currency auction led to instability and that is the rise and fall Mphajin process caused confusion traded currency in the local market.

    He pointed to the need for banks as a result of the civil commissions to buy the dollar from the central bank and then sell it to the banking companies, to earn a reasonable profit you need to fill the daily expenses represented functional cadres of their labor in addition to other services essential to their work.

    For his part, Ray, an economist Abbas Bahadli floundering decisions of the central bank necessarily lead to the emergence of crises disrupt the economic development of the country since 2005, and even now, when he proceeded to plan a system of financial investment through the interest charged rewarding for banks and private banks reached 22 percent.

    He added that the damage caused by this measure, which was the oldest central bank interest him more than the evidence shifted funds of private banks to the process of buying and selling the dollar because of the large and quick profit numbers equivalent to the budget of a neighboring country, which led to the stoppage of all other banking transactions.

    The Bahadli presence citizen defect large in monetary policy of the Central Bank, was to sell the dollar at auction exclusively for domestic banks at a price of 1173 dinars to the imposition of the archives own, import goods testimony of origin and settling accounts of tax and other, subject to sell the dollar for the citizen at a price of 1180 dinars.

    He stressed that the private banks did not adhere to the official selling price, and monopolized the dollar, as well as the emergence of mafia money laundering, brokers and monopolists manipulate the exchange rate by Omzjtha profitability.

    He said the financial allocation by the central bank, each bank Ahli up a day to 10 million dollars, so the simple calculation, the profit of each bank amounted to a million dollars per day which led to the reluctance of banks to finance any project, because the interest of funding 12 percent Projects for much less than the process of selling the dollar.

    The expert described these measures are significant waste of public money and damaging the national economy and is the Honor of funds through the monopoly of the national economy and the disabled, as well as the stop of strategic projects and infrastructure in the country.

    He was surprised at the lack of seriousness of Bahadeli security agencies competent to economic crime in dealing with such a major issue affecting economic security.

    The Truth parliamentary matches Development Fund of Iraq revealed, for the sale of the Central Bank about 207 billion dollars is equivalent to 55 percent of Iraq's oil revenues during the past six years, and while confirming that those sales were more doubles than you need the local market, it revealed that more than half of those sales went to community banks poured specific purchases in the Jordanian and Gulf banks through its acquisition of most of the claims of the Central Bank of hard currency to make a profit obscene up to 6 percent, making it the control of the national economy.

    Accused the General Authority for the North Bank for Finance and Investment, in April of 2013, the central bank not to meet the needs of the Iraqi market of hard currency over the past five months and hauling it the responsibility of the private banks, while confirming that Iraq needs to pump nearly 300 million dollars in the market a day to meet the needs of the currency, while the central bank has criticized these statements promised they attack him and stems from ignorance and lack of knowledge of monetary policy. The Cabinet decided, to request the President of Supreme Audit Abdel Basset Turki functions of the central bank governor and the agency rather than the former Fed governor Sinan al-Shabibi on charges of issues of financial and administrative corruption in the bank, especially in the sale of the dollar, but that something did not occur to the work of the bank and currency auction in whereas the exchange rate of the Iraqi dinar against the dollar, a big drop since jumped from 1170 dinars to the dollar in the fall of 2012 to 1270 dinars to the dollar until now.


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