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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

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    A suspicious increase in the number of travelers who received the dollar at the price of travel with

    Rocky
    Rocky
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    Posts : 271062
    Join date : 2012-12-21

    A suspicious increase in the number of travelers who received the dollar at the price of travel with Empty A suspicious increase in the number of travelers who received the dollar at the price of travel with

    Post by Rocky Sun 21 Apr 2024, 10:59 am

    [size=38]A suspicious increase in the number of travelers who received the dollar at the price of travel without leaving Iraq[/size]


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    April 21, 2024[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: Recent documents from the Iraqi Financial Supervision Bureau provide details of a major corruption file related to the sale of dollars to citizens traveling outside the country. These documents reveal serious violations, as more than 151,000 citizens obtained the US dollar at the official state rate for travel purposes, without leaving the country. This means that these citizens sold that money on the black market with the aim of making profits.
    The total amount generated from this scam exceeded $600 million, which was officially purchased for travel purposes, but in fact went to the parallel market to make profits due to the price difference between the official price and the price on the black parallel market.
    As part of the investigation, the Central Bank of Iraq’s cash sales of foreign currency to travelers were audited in the period from February 1 to July 8, 2023. The investigation concluded that the number of travelers according to the electronic platform amounted to 1,481,186 passengers, while the number of actual travelers through the border crossings reached 1,329,246 passengers. Thus, it was found that there was an increase of 151,940 passengers in the number of passengers installed on the electronic platform.
    The total amounts disbursed amounted to approximately $607.76 million, which indicates that the dollar was sold to customers at the official price without verifying their travel, and this means that those involved benefited from the price difference in the parallel market.
    The report also indicates that some central bank employees purchased dollars for travel twice during the same month, once through the central bank directly outside the platform, and once through the cash sales platform. This contradicts the instructions of the Department of Investments and Foreign Transfers. The Central Bank also did not guarantee the sale of dollars to employees within the foreign currency sales database, which indicates that the announced total figure for the amount of dollars sold in cash is incorrect.
    These documents are considered strong evidence of corruption and serious violations in the sale of dollars to travelers in Iraq.
    These violations are based on exploiting the price difference between the official price and the price in the parallel market, which leads to making illegal profits at the expense of citizens and the national economy.
    The Iraqi authorities are supposed to take strict measures to address this widespread corruption and hold those involved accountable. Concerned authorities must cooperate in strengthening the monitoring and control system for foreign currency sales operations and implement more stringent measures to prevent such violations from occurring in the future.
    This revelation of corruption in the sale of dollars to travelers is a strong indication of the need to enhance transparency and integrity in the financial sector and develop effective anti-corruption mechanisms. This requires the cooperation of all parties concerned, including the government, financial institutions and civil society, to ensure fairness and transparency in buying and selling operations and achieve sustainable development for Iraq.
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      Current date/time is Thu 30 May 2024, 1:48 am