Integrity reports and the control bureau indicate money laundering: the auction of currency outside

POSTED ON [You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]

[size=52]Integrity reports and the control bureau indicate money laundering: the auction of currency outside the control of the central bank[/size]

[size=45]Baghdad / Mohammed Sabah
[size=45]The Bureau of Financial Supervision and the Integrity Commission have not stopped sending reports to the House of Representatives since 2014, indicating the smuggling of hard currency and major financial violations that take place in the currency sale window committed by some private banks and banking companies.[/size]
[size=45]Reports indicate that the volume of sales of the central bank from the dollar to these banks and private companies amounts to 45 billion dollars a year, all of which go out of Iraq without paying taxes.[/size]

[size=45]The actual taxes for these amounts are estimated at 10 trillion Iraqi dinars annually, while the financial departments have received only one trillion Iraqi dinars.[/size]
[size=45]At the same time, the mini-commission charged with investigating the building of the Central Bank of Iraq is still checking hundreds of files to verify land survey, financial costs and referrals.[/size]
[size=45]In another context, the House of Representatives is about to complete investigations on the damage and sinking seven billion Iraqi dinars in 2013 in the Rafidain Bank and preparing the parliamentary finance to submit its final report in the coming sessions.[/size]
[size=45]A member of the parliamentary mini-committee on the follow-up of the implementation of the budget Abdul Hadi al-Saadawi that "one of the most corrupt files being verified is the file window currency."[/size]
[size=45]Al-Saadawi said in a statement to (range) that "there are problems and irregularities recorded on the sale of the currency by the Central Bank as well as the currency exchange rate, which is often moving and unstable in most cases," pointing out that "any candidate for the post of governor to sit with Finance To discuss these two issues. "[/size]
[size=45]MPs from various blocs and components often speak of large corruption at the currency sale auction by banks and individuals accused of money laundering.[/size]
[size=45]Al-Madaa published a file on documents compiled by the late politician Ahmed Chalabi and later known as "Chalabi's Files" in early November 2015. It revealed the existence of administrative and financial corruption, money laundering and smuggling of hard currency through the currency auction at the Central Bank.[/size]
[size=45]The Supreme Judicial Council had decided to set up a judicial investigation body in 2015 to consider the documents, but did not announce the results of its investigations so far.[/size]

[size=45]The deputy from the province of Dhi Qar said that "there is a complete conviction is available in the parliamentary finance confirms the existence of corruption in the window selling the currency because of the way the sale of the dollar and those dealing with the Central Bank."[/size]
[size=45]Al-Saadawi proposes to "solve the problem of selling the currency and reduce the phenomenon of corruption by monitoring all the private banks and banking companies in the issue of selling the currency," pointing out that "the Central Bank sales of the dollar range from 150 to 200 million dollars on a daily basis."[/size]
[size=45]"There are annual, quarterly and monthly reports to the Finance Committee from the Office of Financial Supervision and the Integrity Commission since 2014 confirms the existence of manipulation and major corruption in the window of selling the currency," adding that "these reports indicate the lack of control of the Central Bank of the currency sale window" .[/size]

[size=45]He pointed out that "the Parliamentary Finance Committee commissioned a small committee of six deputies to investigate this file is currently a series of meetings and additions with many of the persons responsible for selling the window or currency (auction currency).[/size]
[size=45]He pointed out that "private banks declare some of their profits and hide the profits achieved by tax evasion and cover up foreign transactions (money laundering)." In turn, confirms another member of the Finance Committee that "these reports come in a manner indicative of corruption and waste of currency," revealing that "the annual sales of the central bank up to 45 billion dollars go all outside Iraq under the name of purchases."[/size]
[size=45]Adnan al-Zarfi, member of the committee, said in an interview with Al-Mada that "the taxes collected from these large sums do not exceed one trillion a year." He pointed out that "the parliamentary finance is pressing to deal with these violations in the budget 2020".[/size]

[size=45]He added that "these entities that buy the dollar from the central bank to pay the actual taxes of the Iraqi state to ensure that it does not launder money," pointing out that "the actual taxes of these amounts (45 billion dollars annually) not less than ten trillion Iraqi dinars during the year One ".[/size]
[size=45]The deputy of Najaf province, "the causes of this waste to the erosion of the state and the neglect of ministries in the knowledge of actual revenues." The Finance Committee in the House of Representatives more than a month ago, four sub-committees first follow up the implementation of the provisions of the General Budget Law, and the second investigation of the sinking of seven billion dinars in Rafidain Bank, and the third corruption of the window of currency and the fourth cost of building the new Central Bank.[/size]
[size=45]On the other hand, a parliamentary committee charged with investigating the building of the Central Bank continues to review contracts for the new building. The Commission says that "the documents obtained by the large and placed in fifteen funds include contracts and referrals of contracts for the construction of this building." Adnan al-Zarfi, a member of the subcommittee, confirmed that his committee, which is funded by the parliamentary finance, "is conducting a comprehensive review of these documents relating to the contracts of the new building," stressing that "these documents are many and require a long time to complete." The late Iraqi architect Zaha Hadid laid out the engineering designs of the building of the new Central Bank of Iraq located in the Jadiriyah area overlooking the Tigris River, which consists of (34) floors in addition to two underground floors.[/size]

[size=45]The cost of building the new bank 800 million dollars, and design up to 30 million dollars, as these figures raised great reactions within the House of Representatives and criticism against the administration of the Central Bank of Iraq.[/size]
[size=45]"The audit also covered the area of ​​the land survey, the choice of location and the percentages of the concrete in order to reach the real costs of this project and the profits of the company."[/size]
[size=45]In a related context, says a member of the Finance Committee in the House of Representatives Siham al-Aqili to (extent) that "investigations on the sinking and the destruction of seven billion dinars in the Rafidain Bank is still existing by the mini-committee formed by the financial parliamentary more than a month ago."[/size]
[size=45]The governor of the Central Bank Ali Al-Aliq had confirmed before the House of Representatives on 12 November 2018 damaged nearly seven billion Iraqi dinars as a result of the entry of rainwater to the coffers of Rafidain Bank in 2013, which led to the damage of banknotes.[/size]
[size=45]The committee member added that the Committee "hosted a few minutes ago the Audit Committee of the Central Bank to listen to the reasons that led to the replacement or destruction of this currency," indicating that "the investigations included the call of the Special Commission in Rafidain Bank, which oversaw the destruction of the currency."[/size]
[size=45]The bloc has been threatened in the House of Representatives earlier to dismiss the governor of the Central Bank Ali al-Alaq from his post and to submit to the judiciary unless he provides convincing answers on the health of sinking and the destruction of seven billion dinars in 2013, considering that the discrepancy in the claims of the governor gives clear evidence of theft of these funds In an orderly manner. "There is a conflict in the responses of the committees of the Central Bank and Rafidain Bank in dealing in the currency after drowning, where the Central Bank Committee said that the damage of the currency was delayed six months while the Rafidain said that it dealt with the subject immediately drowned by rainwater. "Because of this discrepancy in the answers, the mini-committee decided to call the two committees at a meeting within the parliamentary finance to verify the issue of the time of dealing with the currency damage."[/size]
[size=45]The member of the mini-audit committee that "the Air Conditioning Commission provided its Committee with reports confirming the existence of rain led to the sinking of this money in the coffers of Rafidain Bank." She added that "the mini-committee will submit its final report after the completion of the meeting with the two committees to establish the reasons that led to the sinking and destruction of funds in Rafidain Bank."[/size]


[size=45][You must be registered and logged in to see this link.]
[/size][/size]

Committee to implement the budget: the auction of currency outside the control of the Central Bank .. Major corruption operations taking place in broad daylight

"The currency auction is outside the control of the central bank, while the latter sells 150-200 million dollars on a daily basis," said Abdul Hadi al-Saadawi, a member of the parliamentary mini-committee on budget follow-up.

Al-Saadawi said in a press statement that "there are problems and irregularities recorded on the sale of the currency by the Central Bank as well as the currency exchange rate, which is often moving and unstable in most cases," pointing out that "any candidate for the post of governor to sit with the parliamentary finance to discuss These two things. "

MPs from various blocs and components often speak of large corruption at the currency sale auction by banks and individuals accused of money laundering.

The Supreme Judicial Council has decided to set up a judicial investigation body in 2015 to consider documents on money laundering, but has not announced the results of its investigations so far.

The deputy for the province of Dhi Qar that "there is a complete conviction is available in the parliamentary finance confirms the existence of corruption in the window selling the currency because of the way the sale of the dollar and those dealing with the Central Bank."

Al-Saadawi proposed "solving the problem of selling the currency and reducing the phenomenon of corruption by monitoring all private banks and banking companies in the issue of selling the currency." He pointed out that "the Central Bank sales of the dollar range from 150 to 200 million dollars on a daily basis."

"There are annual, quarterly and monthly reports submitted to the Finance Committee of the Parliament from the Office of Financial Supervision and the Integrity Commission since 2014 confirms the existence of manipulation and major corruption in the window of selling the currency," adding that "these reports indicate the lack of control of the Central Bank of the currency sale window" .

He pointed out that "the Parliamentary Finance Committee commissioned a small committee of six deputies to investigate this file is currently a series of meetings and additions with many of the persons responsible for selling the window or currency (auction currency).

He pointed out that "private banks declare some of their profits and hide profits achieved by tax evasion and cover up foreign transactions (money laundering)."

 [You must be registered and logged in to see this link.]