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Economist: The auction drains hard currency by protecting big political figures
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The economist [url=https://www.thebaghdadpost.com/ar/Story/t/133337/%D8%B9%D8%A8%D8%AF %D8%A7%D9%84%D8%B1%D8%AD%D9%85%D9%86 %D8%A7%D9%84%D9%85%D8%B4%D9%87%D8%AF%D8%A7%D9%86%D9%8A]Abdul Rahman al-Mashhadani[/url] : "The [url=https://www.thebaghdadpost.com/ar/Story/t/2021/%D9%85%D8%B2%D8%A7%D8%AF %D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9]currency auction[/url] continues to deplete the hard currency because of its association with major political figures."
Mashhadani said in a press statement: "The 15% of sales of the central bank through the auction go as money laundering," indicating: "The parliamentary Finance Committee talked about it, and all government agencies were unable to stop the auction."
"The real rate of imports to the private sector is 35 billion dollars annually, but what the bank sells during the year through auction is 50 billion dollars," he said.
He continued: "Corruption has become evident even in regulators, but the power and influence of people who are influential in banking institutions is greater than accountability."
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The economist [url=https://www.thebaghdadpost.com/ar/Story/t/133337/%D8%B9%D8%A8%D8%AF %D8%A7%D9%84%D8%B1%D8%AD%D9%85%D9%86 %D8%A7%D9%84%D9%85%D8%B4%D9%87%D8%AF%D8%A7%D9%86%D9%8A]Abdul Rahman al-Mashhadani[/url] : "The [url=https://www.thebaghdadpost.com/ar/Story/t/2021/%D9%85%D8%B2%D8%A7%D8%AF %D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9]currency auction[/url] continues to deplete the hard currency because of its association with major political figures."
Mashhadani said in a press statement: "The 15% of sales of the central bank through the auction go as money laundering," indicating: "The parliamentary Finance Committee talked about it, and all government agencies were unable to stop the auction."
"The real rate of imports to the private sector is 35 billion dollars annually, but what the bank sells during the year through auction is 50 billion dollars," he said.
He continued: "Corruption has become evident even in regulators, but the power and influence of people who are influential in banking institutions is greater than accountability."
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