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Financial expert: The sale of currency is one of the doors of theft of state funds
December 26 2017 10:32 p
December 26 2017 10:32 p
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A financial expert confirmed that the sale of the dollar in the Central Bank of Iraq is one of the doors of theft of state funds and economic depletion.
"The fictitious profits that banks earn from this auction have exceeded hundreds of billions of dollars, at a time when more than 90 percent of its work depends on false invoices, companies and individuals with fake names," said Thayer Al Faily, a financial expert and consultant.
The financial adviser added that "this auction disrupted the contribution of banks to development, and disrupted the work of the Iraqi private sector, and therefore the Iraqi state is headed to close the dollar sale window in the first quarter of 2018.
"The US Coalition Provisional Authority has created a foreign currency sale window and has continued to date," he said. "The timing of the financing of the Iraqi state's purchases of dollars was due to the fact that oil sales were - and still are - stored in the US Special Oil Sales Fund, Noting that "the currency auction does not exist in any country in the world, and Iraq is now the only country that has a currency auction, in this way that contribute to the loss and full depletion of the Iraqi economy."
[You must be registered and logged in to see this link.] to the Prime Minister for Investment Thaer al-Fili,
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Baghdad Post
[rtl]
A financial expert confirmed that the sale of the dollar in the Central Bank of Iraq is one of the doors of theft of state funds and economic depletion.
"The fictitious profits that banks earn from this auction have exceeded hundreds of billions of dollars, at a time when more than 90 percent of its work depends on false invoices, companies and individuals with fake names," said Thayer Al Faily, a financial expert and consultant.
The financial adviser added that "this auction disrupted the contribution of banks to development, and disrupted the work of the Iraqi private sector, and therefore the Iraqi state is headed to close the dollar sale window in the first quarter of 2018.
"The US Coalition Provisional Authority has created a foreign currency sale window and has continued to date," he said. "The timing of the financing of the Iraqi state's purchases of dollars was due to the fact that oil sales were - and still are - stored in the US Special Oil Sales Fund, Noting that "the currency auction does not exist in any country in the world, and Iraq is now the only country that has a currency auction, in this way that contribute to the loss and full depletion of the Iraqi economy."
[You must be registered and logged in to see this link.] to the Prime Minister for Investment Thaer al-Fili,
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