Call central bank governor soon .. mafias corruption seizes the currency auction

Call central bank governor soon .. mafias corruption seizes the currency auction

November 12 .2017 - 9:14 | 

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Sommer News: Follow-up .. specialists in the financial and economic affairs revealed the existence of mafias of corruption take over hard currency auction in the central bank, making a large drain of hard currency in the country, calling on the federal government to shut down the currency auction because it has become an outlet for the destruction of the national economy.

Parliamentary Finance Committee says that corruption mafias dominate the foreign currency auction requires competent authorities to intervene to reduce the depletion of the currency because it is destructive of the national economy.

The MP said Magda Tamimi, a committee member said, "There are four points of control of the hard currency auction in the central bank, including small private banks that are almost fake and central bank officials and businessmen and other fictitious companies."

"The Finance Committee will call the central bank governor to discuss this topic to reduce the depletion of hard currency."

For his part, he said the financial expert in the name of Shan Tamimi, said the hard currency auction has become an outlet for corruption and the destruction of the economy, pointing out that the presence of the national currency to destroy the opposite of what planned.

Tamimi said that the size of the existing corruption in the auction currency intervention calls the competent government authorities and the Integrity Commission to hold accountable the perpetrators of the destruction of the Iraqi economy, calling for the cancellation of the auction and the search for a new mechanism to balance the balance Morphological currency. "

Specialists believe that the hard currency at the central bank auction portal for the smuggling of money laundered, stressing that the currency auction is limited to certain companies affiliated to political beneficiaries, while calling for the Central Bank to cancel the auction currency and improve its monetary policy to support the value of the dinar.

And it resulted in the depletion of Iraq's money in the auction sale of currency to Iraq reserves decline in hard currency at the central bank to $ 43 billion, according to MP Abdul Salam al-Maliki, a member of the Committee on Economy and Investment, which adds that the central bank sells at auction a month nearly six billion dollars in return oil imports do not up to that amount.

Often revive economic mafias in the absence of follow-up, strict laws and the aging of the banking system and its mechanisms in the follow-up to the circulation and transfer of cash, and this is the case with Iraq, according to the words of followers and activists, especially since the Integrity Commission has recently announced the increase in cases of banking fraud and theft of billions of dinars from government banks check without balance some staff complicity.

fonz1951 wrote:

sassy wrote:Wow, this is good news, hopefully they will stop the Auctions!  We've been waiting to hear this for years if I'm remembering right  

you are remembering correctly.