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ERBIL — The international team of investigators has revealed that around USD 1 billion is stolen by the Iraqi officials through currency auctions of the Central Bank of Iraq.
ERBIL — The international team of investigators has revealed that around USD 1 billion is stolen by the Iraqi officials through currency auctions of the Central Bank of Iraq.
A source close to Iraqi Prime Minister Haider al-Abadi told Al Ghad Press on Monday that the international team investigating the corruption cases in Iraq has informed Abadi about the involvement of dozens of Iraqi officials in squandering a large amount of Iraq’s money.
The officials waste public money and steal it through the dollar auctions of the Central Bank of Iraq, the source said.
The investigations revealed that Iraq is wasting large amounts of money, sometimes amounting to one billion dollars per day, because of the difference in the Iraqi dinar exchange rate between the auction and the black market.
The source added that the team has completed the investigation of the auction case, and informed Abadi about the corruption.
The source noted that Abadi has ordered the Central Bank to adopt international classifications to give banks the dollars and engage them in auctions, in exchange for maintaining the dollar exchange rate, which remained stable at 1,180 dinars to the dollar.
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