Parliamentary Finance Committee constituted a five-year follow-up of money laundering and currency s

by **Bama Diva** Mon 06 Apr 2015, 7:15 am

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Parliamentary Finance Committee constituted a five-year follow-up of money laundering and currency s

by Bama Diva Mon 06 Apr 2015, 7:15 am

Parliamentary Finance Committee constituted a five-year follow-up of money laundering and currency smuggling operations

BAGHDAD / Amer Mohi

4/06/2015

[ltr]Parliamentary Finance Committee announced the formation of a committee to follow up on a five-year money-laundering and smuggling dollar out of the country. While confirmed that stop manipulation would raise the value of the Iraqi dinar against the dollar, an expert called to involve combat economic crime with a five-member committee to acquire "legal force" and arrest the perpetrators of economic crimes.

She said a member of the parliamentary finance committee pros Hamadoun in an interview for the "long" that "the Iraqi currency suffer from low against the dollar, which led to the need to form a committee to follow up the money laundering and smuggling of foreign currency operations committee was formed to follow up on this matter and verify it," indicating that "The committee that will include members of the Economic Committee, Ministry of Finance, in addition to the General Authority for Customs and taxes."

She said Hamadoun saying that "the Commission will follow up the work of the Central Bank and the amounts of money that will be sold, in addition to the follow-up work of the government and private banks, which sells large numbers of the dollar," noting that "he did not specify the names of the Finance Committee members who will participate in this committee, this will be managed According to the consensus among member Committee. "
She said, "members of the committee are determined to work very seriously to pursue violations and corruption, which gets a result of money laundering and smuggling of currency abroad," predicting that "stop currency manipulation will contribute significantly to the decline in the dollar rate against the dinar."

For his part, economist Ahmed Atwani said in a statement to the "long", that "money laundering and smuggling of foreign currencies phenomena that emerged strongly after 2003 as a result of the emergence of mafias financial and economic due to the weakness of the rule of law and the low performance of the regulatory agencies," noting that "money laundering operations are international crime has a direct connection to the activities of illegal sector work secret, which is known as the shadow economy or the hidden economy. "

He Atwani saying that "money laundering may be linked to some of the major economic crimes phenomenon of trafficking of prohibited substances and internationally banned and by which the Acquistion of legal legitimacy of funds of illicit origin, either foreign currency smuggling is the worst threat to the Iraqi economy."

He explained Atwani that "the phenomenon has grown through the exploitation of the central bank action to provide cheap dollar by currency auction without strict control measures on import operations, creating a great opportunity for financial mafias remove large amounts of dollar out of Iraq", blaming "regulatory responsibility for the growing phenomena and to develop Fast processors to coincide with the CBI action. "
He expert "The committee, which will be a very big coming days, tasks, and in the case of the Commission led its business in a professional manner and applied systems and standards regulatory limit and dramatically waste operations in foreign currencies provided by the Central Bank of Iraq, which will contribute to reducing the demand for the dollar is positively reflected the Iraqi dinar exchange rate and the decay of the role of the parallel market rates of exchange rate ", calling for" the introduction of the fight against the Interior Ministry's economic crime devices to this Committee to gain legal force to make the arrest of the perpetrators of these crimes and economic measures. "

Parliamentary Finance Committee and hosted the Finance Minister, Hoshyar Zebari, and the Governor of the Central Bank on the Keywords search for hard currency smuggling and money laundering.

A member of the parliamentary Finance Committee MP for the Liberal bloc Hossam punitive, earlier, to take punitive action against banks that facilitate money laundering process and contribute to sabotage the Iraqi economy.

He said punitive, "it was an agreement between the Finance Committee after attending the Finance Minister, Hoshyar Zebari, and the Director of Money Laundering Office to the House of Representatives on Wednesday, to hold the first meeting in the presence of financial committees and the Parliamentary Integrity and the economy with the Presidency of the Council for the purpose of discussing the subject of money laundering and take deterrent action against the perpetrators sabotaging the economy. "

He announced punitive for "the formation of a parliamentary committee supreme for the investigation of money laundering case, because of the subject of high-risk and negative impact on the Iraqi economy," noting that "the World Bank warned of the repercussions of the washing process taking place in Iraq, and the failure of the extremely dangerous."

He explained punitive "The Finance Minister Hoshyar Zebari told us that the money laundering affects the lower central bank reserves of hard currency," pointing out that "there are a number of private banks are covering up the money laundering process through remittances out of Iraq," stressing that "measures deterrent against banks that facilitate that process and working to sabotage the Iraqi economy. "
He revealed the parliamentary finance committee member Masood Haider (April 4, 2015) that the committee has formed a committee for the five-year follow-up and verification in money laundering and smuggling of foreign currency operation.

Haider said in a press statement that "the Commission held a meeting with the Minister of Finance and Director of the General Commission for Taxes and Customs and director of the Anti-Money Laundering and representatives from the Central Bank, on the subject of money laundering and showed their willingness to cooperate, noting that the Committee will hold a hearing with the committees of integrity, investment and economy, parliamentary, and then with body presidency to inform them of the course of events and the committee's findings. "[/ltr]
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