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Parliamentary Finance: {corrupt} behind the banking system's reluctance
Iraq 10/15/2023
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Baghdad: Shaima Rasheed
The Parliamentary Finance Committee directed its accusations against corrupt economic shop owners who do not want the banking system to succeed or advance, especially since all transactions have become electronic, as is the practice in all countries of the world.
A member of the Finance Committee, Jamal Cougar, said in an interview with “Al-Sabah”: “There is no country in the world that does not deal with the electronic system. On the contrary, all transactions take place in local currency, while foreign currency is traded only at airports, in addition to the fact that 90 percent of Transactions are electronic, and money is not disbursed except after taking personal documents, including a passport, to know the destination of the money and the methods of spending it.”
Koger added, "If the government banking system becomes electronic, it will significantly reduce money smuggling and laundering. Without that, the reform decisions will remain ink on paper," explaining that "there is chaos in the banks caused by corrupt people and economic shop owners who do not want the electronic system to move forward."
He stressed that "there is a will that does not want a correct financial system to take its course," pointing out that there is "a conflict between two wills, a will that wants to improve the financial and banking system and another that benefits from things remaining in their current state."
Edited by: Wael Al-Maluk
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