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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

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    Deputy: Private banks have turned into “shops” to drain hard currency and transfer it abroad

    Rocky
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    • Post n°1

    Deputy: Private banks have turned into “shops” to drain hard currency and transfer it abroad Empty Deputy: Private banks have turned into “shops” to drain hard currency and transfer it abroad

    Post by Rocky Wed Jul 06, 2022 10:21 am

    Deputy: Private banks have turned into “shops” to drain hard currency and transfer it abroad
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    July 6, 2022
     
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    Baghdad - brother
    Today, Wednesday, the representative of the Al-Fateh Alliance, Aziz Sharif Al-Mayahi, called on the Central Bank of Iraq to reconsider the classification of private Iraqi banks and hold them accountable that did not provide any investment or economic benefits to Iraq.
    Al-Mayahi said in a statement, received by the press (brother), that “there are many private banks led by a number of corruption mafias that, unfortunately, have turned into shops for issuing letters of guarantee and taking high and large commissions that burden contractors, in addition to the depletion and smuggling of hard currency. abroad, paying with forged bills to the Central Bank and speculating in the markets, which negatively affected the economic situation and harmed the Iraqi private sector and established its wealth at the expense of Iraq and its people without presenting any investment or economic plans or projects that benefit Iraq or reduce the suffering of the poor classes.
    He added, "The Central Bank has previously worked to classify private banks on grades according to what they offer, but unfortunately we did not find from some of those private banks that were granted advanced degrees any benefit to the country," noting that "these banks did not have any positive role." During the successive economic crises that afflicted the country, noting that “despite this, its wealth continues to grow from the country’s bounties without any account or supervision.”
    Al-Mayahi stressed “the importance of the Central Bank’s review of all its accounts in dealing with private banks and setting stricter controls in checking invoices sent from those banks, given that the volume of exports does not match the volume of hard currency leaving the country to sort out the lagging ones after giving them a time limit to rearrange their plans.” He added that "in the event of continued reluctance, work should be done to withdraw licenses from them and oblige them to pay fines for the extent of the damage they caused to the Iraqi economy and the private sector."
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