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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


    A Lebanese researcher reveals the mechanisms of smuggling dollars from Iraq through the "imaginary t

    Rocky
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    A Lebanese researcher reveals the mechanisms of smuggling dollars from Iraq through the "imaginary t Empty A Lebanese researcher reveals the mechanisms of smuggling dollars from Iraq through the "imaginary t

    Post by Rocky Mon 06 Mar 2023, 2:02 pm

    A Lebanese researcher reveals the mechanisms of smuggling dollars from Iraq through the "imaginary traveler" - Urgent
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    Baghdad Today - Follow-up
    A Lebanese economic researcher revealed the mechanisms of smuggling dollars from Iraq through what he described as the "imaginary traveler", and the value of what tourism companies get for each traveler.
    Ali Noureddine said in an article followed by "Baghdad Today", that "the price of a travel ticket from Iraq to Beirut does not exceed the limits of 100 US dollars, but this ticket entitles its owner - according to the rules of the Central Bank of Iraq - to buy 7000 dollars at the low official exchange rate, to spend it." on travel and accommodation needs.
    He added that this procedure "opened the door for the abuse of this loophole by businessmen, exchange offices and tourism companies in Iraq, by sending groups of Iraqi youth to Beirut for very short periods, with the aim of benefiting from the (quota) to buy official dollars."
    And he pointed out, "As a result of this process, these networks can get approximately $1,470 in net profit for every (fake) tourist sent in this way, as a result of the difference between the official exchange rate and the parallel market rate.
    And Noureddine continued: "As for the most important thing, it is that Beirut is blessed with an open and free market for parts, and with companies that conduct exchange operations, buying and selling against the Iraqi dinar, which allows the completion of part of the exchange operations and profit-taking in Beirut."
    And he noted that "in this way, the imaginary tourist can sell part of the dollars that were obtained in Beirut, with the aim of buying the dollars of the Central Bank of Iraq again later, without making a lot of noise in the Iraqi currency market. In this way, there is a regular network for smuggling Dollars are between Lebanon and Iraq, their elements intertwine between Beirut and Baghdad, just like the case of the (common items market) between Lebanon and Syria in the Bekaa (regardless of the validity of the existence of smuggling operations of hard currency between Lebanon and Syria).
    The Lebanese economic researcher pointed out that "some of these money smuggling operations have recently taken organized forms, through which private apartments have been rented in Beirut to house alleged tourists, and some institutions that deal with these operations are now offering Iraqi youth free tourist trips to Beirut, in exchange for Engaging in hard currency smuggling.
    He pointed out, "The Iraqi government has commissioned the Iraqi Security Service to investigate this file and control the dollar smuggling networks, without reaching tangible results so far."
    He believed that "these operations do not directly affect the exchange rate of the dollar in the Iraqi market, but they drain the reserves of the Central Bank of Iraq, and increase the risks related to the bank's relationship with foreign banks, especially since the restriction of dollar sales was specifically due to the suspicion of the existence of hard currency smuggling operations." To circumvent US sanctions by Iran.
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