Central Bank supports electronic control system with the border crossing points

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Central Bank supports electronic control system with the border crossing points



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While the central bank announced a decline in sales of the currency auction to banks and adoption of the control system electronic links between him and the General Authority for Customs, called Economists Bank to expand the adoption of the treasury transfers instead of cash sales to banks and citizens to reduce the high prices of the dollar and ensure the preservation of public money wastage.

In this regard, said a researcher at the Iraqi Institute for Economic Reform, Dr. Ahmed al-Husseini's (Babylonian): The adoption of the Central Bank of the introduction of remittances for traders ensures access the largest number of goods, but he in turn may delay the arrival or entry of those goods into the country, but in all cases the best much if coupled with a new control system.

He added that foreign banks are foreign-based and trust remittances issued by the central bank and therefore it is a good sign and gives an incentive for the central bank to reduce the cash sales and restrict the sale of foreign currency for traders and investors as it ensures the arrival of goods in the same amounts transferred to the merchants themselves.

The governor of the Bank and Abdul Basit Turki agency announced in a press statement that the central bank sells daily between 160 to 180 million dollars in cash on a daily basis to the citizens and brokerage firms.

According to the theory of supply and demand is supposed to drop prices, the dollar through this procedure, but do some weak people exploiting the phenomenon of cash sales direct to the dollar to the citizens to achieve a quick profit at the expense of the country's interests and damage the local economy, as the amount set by the Central Bank of the citizen for the purposes of travel or treatment $ 5000.

He said al-Husseini that the system transfers contribute directly in the balance of trade payments of the country and achieve stable than if it was linked to a program controlled electronic between the central bank and border crossings of the General Authority for Customs, indicating that the control systems of modern contribute significantly to the reduction of administrative corruption as it check the economic feasibility and the maintenance of public money.

The Association announced private banks in Iraq for more than five banks will start to reduce civil dollar selling prices to citizens at 1183 dinars, while set the price for the purposes of selling credits to 1178 dinars.

The executive director of the Association of private banks in Iraq, Abdul Aziz Hassoun told (the Babylonian Net): This trend comes to support measures CBI aimed to reduce the prices of the dollar and the stability in the markets, noting that the three banks, which will take the initiative to reduce the prices are the Ashur International Bank and Bank of Baghdad and Huda Islamic Bank.

Goldfinch predicted that the rest of the private banks tend to this initiative seriously and that reflects the response of the private banking sector with the instructions of the Central Bank of Iraq and restore bridges of trust between them.

Iraq has seen a recent rise in the dollar exchange rate as a result of market instability by Iqbal large numbers of people to buy it from the outlets and then sell it to companies to mediate in the sale of currency for a small profit, which led to the high price of the dollar against the dinar.

The governor of the Central Bank of Iraq and Abdul Basit Turki agency announced the Bank's adoption of electronic method of connecting with the General Authority for Customs for the purpose of documenting transactions for the entry of goods into the country and money realized from the sale of foreign currency.

He said in a press statement that this measure comes to the purpose of the effective implementation of the link between border crossing points and currency auction window and window expense of the Iraqi payments so that we can know what we are selling in the currency auction turns into real goods coming into Iraq.

He said that the report of the Board of Supreme Audit has shown that derived from the actual materials entering Iraq amounting to a rate of less than 1 percent due to the lack of outlets controlled entirely at best proportion of goods entering into the country 20 percent of the amount sold in the auction currency, which turns In contrast to the merchandise.

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Human Rights Commission calls for activating the controls on imported goods



Friday, 09 August / August 2013 09:40

Twilight News / demanded that the UN High Commissioner for Human Rights, on Friday, the Iraqi government to activate the consumer protection measures of the Iraqi poor quality of imported goods, while confirming that encroach upon the "profiteers citizen" is a war not less serious crimes of terrorism.

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A member of the Board of Commissioners Fadhil's Ghrawi "Twilight News", on the Iraqi government to issue instructions to do a standardization and quality control at border crossing points.

He added that the Iraqi consumer protection and control over the quality of products supplied to the domestic market, is one of the most important human rights issues, because it touches on the most important sources of life for the Iraqi people and of its strength and its impact on the basis of public health.

He said, "There is an urgent need to activate the legal and judicial measures to protect the consumer and take down the maximum penalties for anyone who tries to manipulate and Touch the citizens, which is the red line, overtaking him as a war on the citizen may be the hardest of the crimes of terrorism."

It demands specialists need to speed up the formation of consumer protection in accordance with the Consumer Protection Act of Iraq, headed by someone with experience and competence in matters relating to consumer protection, and holds a primary and the rank of Deputy Minister, and its members (managers) and from different disciplines.

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