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Neno's Place Established in 2006 as a Community of Reality


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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


4 posters

    Private banks increase the national economy's pains by auctioning the imaginary currency

    Rocky
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    • Post n°1

    Private banks increase the national economy's pains by auctioning the imaginary currency Empty Private banks increase the national economy's pains by auctioning the imaginary currency

    Post by Rocky Tue 27 Mar 2018, 9:58 am

    Private banks increase the national economy's pains by auctioning the imaginary currency
    March 27 2018 02:01 PM
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    [rtl][rtl]Central bank sales of the dollar rose today[/rtl]
    [/rtl]
    Baghdad Post
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    Some private banks deliberately continue to provide false documents and invoices for the purpose of importing goods that are often fictitious
     
    "The issue of the currency auction and the corruption in it is something that has been discussed a lot and touched on by the media several times," said Harith al-Harthy, a member of the parliamentary committee for economy and investment.
     
    He added that there are many appeals to stop this bleeding in the currency, indicating that there is an import of non-important goods and false invoices that have exhausted the hard currency through the auction currency.
     
    Some private banks deliberately continue to provide false documents and invoices for the purpose of importing goods that are often fictitious.
     
    This is reflected negatively on the central bank's reserve of foreign currency due to fraudulent bills and the depletion of the currency.
     
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    Rocky
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    • Post n°2

    Private banks increase the national economy's pains by auctioning the imaginary currency Empty National banks touched the door of the auction of currency through false invoices for fake goods Tue

    Post by Rocky Tue 27 Mar 2018, 10:13 am

    National banks touched the door of the auction of currency through false invoices for fake goods


    Tuesday 27 March



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    It seems that the auction of the currency, is still tainted by corruption because of some private banks continue to provide false documents and invoices for the purpose of the import of goods, which are often fake, which reflected negatively on the reserves of the Central Bank of foreign currency. 

    Those banks considered it a lot of specialists that it is a "glamorous facades" living on the currency auction more than contribute to the development of the national economy
    False invoices and the depletion of the coin 
    says the Committee on Economy and Investment parliamentary member Harith al-Harthy , in an interview with Alsumaria's News, said that " the issue of auction currency and the corruption that exists in it is something we discussed a lot and touched him media several times, and there are many pleas to stop this bleeding currency, indicating that there is the import of goods Non-important and counterfeit bills that drained hard currency through the currency auction. " 

    Al-Harithi added that "the Central Bank has prepared lists of parties that violate the currency auction or that have suspicions of corruption or exploitation of the auction," pointing out that "the regulatory bodies, including the Office of Financial Supervision is working to take punitive measures against them."

    For his part, MP Amin Bakr said in an interview with Alsumaria News that "there are some private banks are full of suspicions of corruption and money laundering is done through the submission of import invoices for goods which are forged in order to enter the auction currency," noting that "these funds come out without the entry of any goods." 

    "There is a lack of oversight bodies that should follow such issues because they negatively affect the national economy," Baker said. 


    Buildings fake banks empty 

    says economist and financial expert Hilal Miller in an interview with Alsumaria, he said that "more private banks operating in Iraq are just fake buildings hanging by the boards of banks and have only guards and do not have employees and are these banks to trade auction currency for the purpose of making a profit and a lot of money without Provide any banking services similar to the countries of the world and even the neighboring countries of Iraq. "


    "The central bank's auction is supposed to be temporary for a situation that the Iraqi economy has lived under in certain circumstances and it must stop after that, but it has continued for many years, which will negatively affect the Iraqi economy," he added. 


    And demands the miller of "the central bank the need to tighten control on these banks and auditing and take deterrent measures against banks and the violation of the imaginary," stressing that "there are suspicions of corruption to many of these banks, especially in the currency auction conducted by the Central Bank." 

    "The process that is supposed to be in the auction is to cover the sales of the dollar to what is imported from the goods from abroad and not given individually and go to a certain category at the expense of the citizen and his benefit," says economist Jamil Antoine in an interview with Alsumaria News.

    Antoine points out that "the best solution to prevent the process of corruption in the auction is the commitment to documentary credits to buy the dollar," pointing out that "the imbalance is due to the policy of the state on the pretext that they closed the control department in the central bank." 

    For his part, says economist Habib Hassan al-Qara Guli in an interview for Alsumaria News, "What happens at the auction of currency is smuggling and laundering of money," stressing that "this is harming the Iraqi economy." 


    "Most of the private banks in Iraq have been opened in partnership with investors from the Gulf countries and foreign countries, so it is these are the ones who control these banks and the money and profits go to their accounts and do not benefit the public except the simple ones," he added, adding that " The only benefit they get is the employees in these banks by giving them some very simple financial concessions. "
    For his part, says economist Abdul Rahman al-Mashhadani in an interview for Alsumaria News, "The corruption continues to be at the auction of the currency in which the commercial banks and banking offices where some traders provide false import documents to private banks and commercial banks are the fraud Documents for the purpose of obtaining the dollar for profit, not for the purpose of covering imports. " 

    He added that "we need to check and study to know the rates of corruption in this matter, which is so far unknown," stressing that "the duty of the money laundering office in the Central Bank and other commercial banks to do their work to prevent such corruption so as not to adversely affect the Iraqi economy and "This money does not go to finance terrorist operations."


    "The sale of dollars to banks must be matched by the entry of imported goods in the same amount, but what is happening is otherwise, which raises doubts about where the money goes," Mashhadani said. 


    The Central Bank of Iraq sells the dollar to private banks and financial transfer companies through the auction, which is conducted daily and the amount of 150 million dollars, which increase these numbers or fall on demand by these banks, which affects one way or another on the reserve of the Central Bank of Iraq, which affected significantly in recent times As a result of the lack of adaptation between the dollar and between the sale through the auction.



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    Lobo
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    • Post n°3

    Private banks increase the national economy's pains by auctioning the imaginary currency Empty Re: Private banks increase the national economy's pains by auctioning the imaginary currency

    Post by Lobo Tue 27 Mar 2018, 10:36 am

    Thanks Rocky.  I sure don't understand why the CBI would allow the banks that they know are cheating at the auctions to continue and not be shut down and WHY IN THE WORLD are they continuing the auctions when they know how much money they are losing - wonders never cease.
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    weslin3
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    • Post n°4

    Private banks increase the national economy's pains by auctioning the imaginary currency Empty Re: Private banks increase the national economy's pains by auctioning the imaginary currency

    Post by weslin3 Tue 27 Mar 2018, 11:40 am

    Gives them more pocket change.... laugh
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    jedi17
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    • Post n°5

    Private banks increase the national economy's pains by auctioning the imaginary currency Empty Re: Private banks increase the national economy's pains by auctioning the imaginary currency

    Post by jedi17 Tue 27 Mar 2018, 12:38 pm

    Lobo wrote:Thanks Rocky.  I sure don't understand why the CBI would allow the banks that they know are cheating at the auctions to continue and not be shut down and WHY IN THE WORLD are they continuing the auctions when they know how much money they are losing - wonders never cease.


    Let me answer this for you Lobo.....it is Iraq, full of corruption...nuff said :)
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    weslin3
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    • Post n°6

    Private banks increase the national economy's pains by auctioning the imaginary currency Empty Re: Private banks increase the national economy's pains by auctioning the imaginary currency

    Post by weslin3 Tue 27 Mar 2018, 4:51 pm

    Exactly!!! Good to hear from you jedi...
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    jedi17
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    • Post n°7

    Private banks increase the national economy's pains by auctioning the imaginary currency Empty Re: Private banks increase the national economy's pains by auctioning the imaginary currency

    Post by jedi17 Tue 27 Mar 2018, 7:12 pm

    weslin3 wrote:Exactly!!! Good to hear from you jedi...
    I am always around, just not much to say these days.....kinda like Rondo...just keep reading....with that....thanks Rocky for the news posts
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    weslin3
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    • Post n°8

    Private banks increase the national economy's pains by auctioning the imaginary currency Empty Re: Private banks increase the national economy's pains by auctioning the imaginary currency

    Post by weslin3 Tue 27 Mar 2018, 7:34 pm

    Always appreciate your comments. I should shut up.. Because nothing has worked out like it looked like was going to happen. But still here.. Probably just need to read also. Hang In There
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    jedi17
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    • Post n°9

    Private banks increase the national economy's pains by auctioning the imaginary currency Empty Re: Private banks increase the national economy's pains by auctioning the imaginary currency

    Post by jedi17 Wed 28 Mar 2018, 9:26 am

    weslin3 wrote:Always appreciate your comments. I should shut up.. Because nothing has worked out like it looked like was going to happen. But still here.. Probably just need to read also. Hang In There

    ahhh....wes...you should never shut up....i always appreciate reading what you post!!
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    weslin3
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    • Post n°10

    Private banks increase the national economy's pains by auctioning the imaginary currency Empty Re: Private banks increase the national economy's pains by auctioning the imaginary currency

    Post by weslin3 Wed 28 Mar 2018, 1:24 pm

    csd Writing you a thank you note jedi. That was sweet...
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    Private banks increase the national economy's pains by auctioning the imaginary currency Empty Re: Private banks increase the national economy's pains by auctioning the imaginary currency

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