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Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Al-Faily: We call for an end to the depletion of hard currency in the auction in which hundreds of b

rocky
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Al-Faily: We call for an end to the depletion of hard currency in the auction in which hundreds of b Empty Al-Faily: We call for an end to the depletion of hard currency in the auction in which hundreds of b

Post by rocky on Mon 30 Nov 2020, 2:43 pm

Al-Faily: We call for an end to the depletion of hard currency in the auction in which hundreds of billions of dinars are lost as profits to banks belonging to influential political parties


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Member of Parliament, Representative Mazen Al-Faili, called for stopping the depletion of hard currency in the auction in which hundreds of billions of dinars were wasted as profits for pure-owned banks or in partnership with influential political parties. "We renew our call to stop the depletion of hard currency in the selling auction, in which hundreds of billions of dinars are lost every month in illegitimate profits acquired by banks that raise many indications of their pure ownership or in partnership with influential political parties, and because of the lack of transparency and clarity in publishing the amount sold to each bank," Al-Faily said. Daily from the dollar, the available information indicates that some banks earn 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. If we calculate the average family of five people, it is It suffices to support one million Iraqis a month, and if we collect to it the profits of the rest of the banks, trillions of dinars will be available annually.

Al-Faily suggested some suggested solutions to this crisis that drains 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 illegal profit by banks that live on the depletion 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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