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REPRESENTATIVE ECONOMY CALLS FOR STOPPING THE DEPLETION OF HARD CURRENCY BY SELLING AUCTIONS

rocky
rocky
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REPRESENTATIVE ECONOMY CALLS FOR STOPPING THE DEPLETION OF HARD CURRENCY BY SELLING AUCTIONS Empty REPRESENTATIVE ECONOMY CALLS FOR STOPPING THE DEPLETION OF HARD CURRENCY BY SELLING AUCTIONS

Post by rocky on Mon 30 Nov 2020, 2:41 pm

REPRESENTATIVE ECONOMY CALLS FOR STOPPING THE DEPLETION OF HARD CURRENCY BY SELLING AUCTIONS
Monday, 30 November 2020 1:20 PM
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Baghdad / National News Center -
The Parliamentary Economic and Investment Committee demanded, on Monday, to stop the depletion of hard currency in the auction in which hundreds of billions of dinars were wasted profits for banks belonging to their pure ownership or in partnership with influential political parties. In her words.
A member of the committee, Mazen Al-Faily, said in a statement received by the National News Center, a copy of it: “We renew our call to stop the depletion of hard currency in the sale auction in which hundreds of billions of dinars are lost every month in illegal profits acquired by banks that have many indications of their ownership return. In exchange, or in partnership with influential political parties, and due to the lack of transparency and clarity in publishing the amount of dollar sold to each bank daily, the available information indicates that some banks profit more than eighty billion dinars per month, meaning that this bank alone acquires enough monthly salary of ( 400) thousand dinars for more than (200) thousand citizens, and if we calculate the average family of five people, it is sufficient to support one million Iraqis a month.
Al-Faily added: “Among the proposed solutions to this crisis that is draining public funds: -
1. Putting the currency selling activity in all its stages under the eyes of the public opinion and the supervisory authorities in order to prevent manipulation and end the illicit profit by banks that are relying on the drain of public money.
2. That the central bank take clear measures by directly selling dollars to actual traders and citizens without going through intermediary banks that do not provide any economic development activity.
3- Profits tax can be calculated in advance to ensure that additional revenues are collected from the sale of the dollar in the currency auction.

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