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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


    Iraq: American techniques to stop dollar smuggling

    Rocky
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    • Post n°1

    Iraq: American techniques to stop dollar smuggling Empty Iraq: American techniques to stop dollar smuggling

    Post by Rocky Mon Feb 06, 2023 10:41 am

    [size=47]Iraq: American techniques to stop dollar smuggling[/size]


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    Baghdad

    Hossam Muhammad Ali


    February 06, 2023

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    The American delegation called on Iraq to tighten checks at official outlets (Getty)
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    A source close to the US Embassy in Baghdad confirmed to Al-Araby Al-Jadeed that “what the Iraqi authorities announced regarding the [You must be registered and logged in to see this link.] constitutes only a small percentage that does not exceed 5% of what is smuggled daily, and that the issue of [You must be registered and logged in to see this link.] in Iraq is not done through (official) methods, but rather Most of them flee through the official and illegal border crossings in the provinces of Diyala and Sulaymaniyah across the border with Iran.
    And the source, who refused to be named, stated that "the issue of dollar smuggling and its arrival to Iran and other destinations on the US sanctions list was the focus of the main discussion during the Istanbul meeting that brought together the US Treasury Assistant for Terrorism and Financial Intelligence Brian Nelson, and the Governor of the Central Bank of Iraq, Ali Al-Alaq."

    He explained that "the American official informed Al-Alaq that there are illegal outlets that are not under the control of the state that allow the smuggling of dollars (cash) to Iran, and during the meeting he presented evidence confirming the existence of systematic smuggling through people belonging to parties linked to parties and other Iraqi parties that have strong relations with Iran, crossing by trucks." to the Iranian side, and return after unloading their cargo of dollars.”
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    He continued by saying that the American delegation called on Iraq to tighten audits at the official ports, and offered to equip Iraq with advanced devices that detect any cargo (money), even if it was carefully hidden, as well as the requirement to control the unofficial ports and crossings and any border gaps that allow the smuggling of the dollar.
    The Iraqi side showed openness and promised to meet these requirements within a period of time, which will be fixed within a comprehensive Iraqi-American governmental agreement during the upcoming visit of the Iraqi diplomatic and financial delegation to Washington tomorrow and the day after tomorrow, according to timings, to achieve softness and flexibility that Baghdad stresses on Washington that it needs it now to control the exchange rate. in Iraq".
    This information was confirmed by the financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, who said, "Iraqi banks responsible for financing foreign trade show accelerated discipline in the accuracy of documents submitted and high compliance, all of which will inevitably contribute to the return of the exchange rate to approaching the official rate and market stability." .
    Salih added, in his interview with Al-Araby Al-Jadeed, that “things are moving towards a gradual detente in favor of the Iraqi dinar, as the first package launched by the Central Bank of Iraq at the end of last week contributed to liberating important paragraphs of external transfer through mechanisms undertaken by the global international banking system for compliance and oversight.” It contributed to the stability of the exchange rate.
    He added, "The progress of the upcoming negotiations in Washington, whose success I expect, will give sufficient flexibility to transition and integrate into the international banking system, through the rapid adaptation of the Iraqi banking system to the prudential, compliance and governance controls in force globally, which meet the requirements of international compliance and will all inevitably go towards the stability of the exchange rate." With the acceleration and approaching the exchange market prices in the parallel market to the official rate.
    A senior Iraqi security source said in exclusive statements to Al-Araby Al-Jadeed that "the campaign against speculators and manipulators of the exchange rate has so far resulted in the arrest of a number of senior traders, manipulators and owners of exchange companies, and the seizure of a large sum of money."
    "The campaign continues, and we are tracking those involved through a security network that includes the National Security Services, General Intelligence, and Federal Intelligence affiliated to the Ministry of Interior," he added. He continues, "The campaign also seized outlets that deliberately did not sell dollars to its seekers for travel purposes, despite the pumping of sufficient funds for them by the Central Bank, and seized receipts for selling fake dollars to citizens, and a number of those involved were arrested."
    Regarding the countries or destinations to which the smuggled dollar goes, according to the source, “one of those involved admitted that the money was smuggled by primitive means through trucks to transport goods to Iran and Syria. Lots of smuggling.
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    [size=12]Arab economy
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    With the participation of security and intelligence agencies, the intensive security campaign continues in the Iraqi capital, Baghdad, and in various provinces of the country, according to what the authorities describe, to arrest foreign currency smugglers, speculators, and manipulators.
    Economist Nabil Al-Tamimi told Al-Araby Al-Jadeed, "The current fluctuation in exchange rates in Iraq and its failure to return to the official rate is due to speculation and manipulation. We recommend continuing security operations against those who commit these illegal practices and deterring those trying to control the country's economy."
    He added, "The campaigns did not topple the big heads, according to our belief, and were satisfied with the small ones so far, but in return they led to a decline in the exchange rate, and its continuation will push for more decline instead of the steady rise that brought the exchange rate to 1,750 dinars against the dollar last week."
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