Specialists: Inventory sell the currency on the one hand indicates the presence of myopia in the man

Specialists: Inventory sell the currency on the one hand indicates the presence of myopia in the management of fiscal policy


04/28/2013 (23:01 pm) -


BAGHDAD / tributary cactus

See specialists in financial affairs that the sale of hard currency from the Rasheed Bank only has scientific basis and indicate nearsightedness, noting that it does not contribute to the reduction of currency smuggling but lead to higher exchange rate

The economist said contrary goldsmith inventory to sell the currency in a single bank is not the proper procedure through which maintains the currency never, The subject of control of the smuggling of funds not
Limiting the sale of third-dollar one returned those procedures بالبدائية and that has not scientific relevance and show the shortsightedness of pointing out that an inventory of the currency and sold through the Rasheed Bank lead to higher exchange rate more.
He said the goldsmith, "there are actions carried out by the whole world through sections for money laundering in both banks of the duty to follow movements of funds to its customers and also the dealers. Stressing," The control of the currency would be difficult to more in the case of dependence on sales to a single bank, especially since you can not control in several quarters, how that bank that bears the overwhelming numbers.
He predicted the goldsmith, "he will entail burdens and the big tent and problematic on this resolution Kashkagliat is decent in terms of behaviors.
However, the jeweler, "that the financial policy of the Ministry of Finance were not sufficiently balanced with the sense that the monetary value of the Iraqi dinar can not be strong enough to exchange enhances the value of both internal and external to become the Iraqi dinar is required as a global currency.
And between, "there is a global system that links all the world banks electronically helps in reducing money laundering and smuggling moved away from being applied to the Ministry of Finance as well as the" absence of updates and work the controls that operate international banks.
The jeweler, "There are plans must be put to the budgets and have to be there to know whether these budgets matching what you doing and the Ministry of Planning, or are working to the trends do not fit nor consistent with those of five-year plans, all that will organize the banking business and limit manipulation without resorting to decisions which may detrimental to the country's economy and raise the exchange rate again.
To that reported an economist Ismail Radi that increase open the ports for the sale of foreign currency by banks will contribute to lower the exchange rate of the U.S. dollar against the Iraqi dinar, because it will meet the market needs of the dollar.
Radi said in a press statement, said that the reason for increasing exchange rate of the U.S. dollar against the Iraqi dinar during the current period in the domestic market, due to the action the central bank toughened on the sale of hard currency and to the lack of the dollar in the market. Called Radi, "to encourage private banks to open more than port for the sale of hard currency with the control of the conversion of external financial. while praised member of the Finance Committee MP Najiba Najib, the decision of the Ministry of Finance to limit dollar selling in the Rasheed Bank only with strict conditions usually a step towards reducing the smuggling of hard currency and creating a balance between the Iraqi dinar and the U.S. dollar . said Najib told the independent press (Iba), "said the move stems from the fear and the Ministry of Finance of the deterioration of the Iraqi currency and the growing smuggling mafias hard currency to neighboring countries,
Asserting that the continued rise in the dollar exchange rate of the dinar against the payment of the Ministry of Finance, in coordination with the Central Bank by making the Rasheed Bank main bank to sell the dollar and specific conditions
. And referred to "compel the citizen who wants to buy the dollar by highlighting the passport to make sure the actual need to buy the dollar and reduce manipulation to buy the dollar and sell it on the black market at high prices." He continued, "The Finance Committee will add the central bank involved in the and specifically section of the auction and sell the currency, noting" there are some coordinators and Exploited Children to develop a troubled country of manipulating the sale and smuggling of currency outside the central bank
The MP for the coalition, the Iraqi Haidar al-Mulla said in February last year that "Iraq has lost during the three months in the central bank auction was $ [509] billion dinars." Al Mulla said in a news conference that "the central bank lost during the period from October 17 last year and even January 31 last year 509 billion dinars in the central bank auction, since the receipt of the President Office of Financial Supervision Abdul Basit Turki Bank presidency by proxy. has decided to Ministry of Finance inventory sell dollars to citizens through the headquarters of the Rasheed Bank and Branch Shorja exclusively. said a ministry statement said "the minister Ali Shukri instructed to Rasheed Bank to sell the dollar for citizens through the headquarters of the bank and branch Shorja exclusively, after submitting a ticket and passport to reduce fraud and manipulation when buying. "The Ministry of Finance decided earlier sell the dollar in a number of banks to control the exchange rate of the dollar, which saw a significant rise over the past few days as the sale of the dollar did not put an end to control the rise.


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