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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The Iraqi dinar is a victim of the Swift system and smuggling

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 269033
    Join date : 2012-12-21
    • Post n°1

    The Iraqi dinar is a victim of the Swift system and smuggling Empty The Iraqi dinar is a victim of the Swift system and smuggling

    Post by Rocky Sat Feb 11, 2023 11:53 am

    [size=38]The Iraqi dinar is a victim of the Swift system and smuggling[/size]


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

    February 11, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk: The news and information circulating about currency smuggling has become the most important issue affecting Iraqi-American relations, as Washington confirms that dollar smuggling from Iraq is smuggled through official and illegal border crossings.
    Dollar smuggling is 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.
    According to the sources, the American authorities are convinced that there are illegal outlets that are not under the control of the state that allow the smuggling of dollars (cash) out of Iraq.
    The Iraqi side made promises to eliminate smuggling operations, which contributed to temporary control of the exchange rate.
    The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, told Al-Masalla that “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.”
    He added, "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, and it has 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.
    And on the way to meet the American conditions, and contribute to the stability of the market, a control and security campaign was launched against speculators and manipulators of the exchange rate.
    The Iraqi security authorities have also allocated a free hotline (144) to report currency smuggling operations, manipulating dollar exchange rates.
    Economist Nabil Al-Tamimi says, "The current fluctuation in exchange rates in Iraq and its failure to return to the official rate is due to speculation and manipulation, and we advise the continuation of security operations against those who commit these illegal practices and deter 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."
    And there were reports of the arrest of the director of an Iraqi National Bank, last Friday, who smuggled hundreds of millions of dollars out of Iraq with forged invoices within 3 years.
    Financial observers believe that the crisis of the Iraqi dinar exchange rate against the US dollar began when the US Treasury Department deprived 14 Iraqi banks of the SWIFT global bank transfer mechanism in an attempt to prevent dollar smuggling.
    According to Washington Examiner's report, the new central bank president had pledged, during his first term, to reforms to prevent dollar smuggling, but nothing was achieved and smuggling continued.
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Sat Apr 27, 2024 4:29 pm