Turki: attempt to repair the central largest auction process against corruption

Turki: attempt to repair the central largest auction process against corruption




06/13/2013 - 16:06 | Source:

Author: Ahmad Valley, Muhannad Muhammad


Turki: attempt to repair the central largest auction process against corruption

Alsumaria News / Baghdad

Take Chairman of the Supervisory Board of Finance and the Governor of the Central Bank and Abdul Basit Turki agency, that what has happened in the field of bank auction and try to reform is the biggest operation against corruption in Iraq, stressing that there is a clear and deliberate to frustrate our work.

The Turkish program "brackets" which aired on Alsumaria, "we have not gotten so far to control fully the health of the transactions involved in the auction currency at the central bank," noting that "what happened in the field of currency auction and try to fix that we've made are the biggest operation against corruption in Iraq. "

Turki added that "confrontation call to reach places are not trivial and very bumpy track, but this is the way that must be involved in managing such an institution," he said, adding that "there is clear and deliberate to frustrate our work."

Turki said that "problematic now to our existing and diagnosed at the time of the former governor Sinan al-Shabibi is the lack of adequate oversight," noting that "the number of staff assigned to bank supervision 33 and selling $ 280 million per day are only three employees."

He pointed out the central bank governor and the agency to "we went in the reform process to the extent beyond the adoption documents banking and transition of the method currently approved in most international banks rather than transfers fast," stressing that "the Bank now has cooperation with the Directorate of Customs and Tax Authority to direct the actual implementation for the development of an electronic network linking the ports with the auction window border currency at the central bank. "

Turki pointed out that "the objective of this procedure is to make sure that what we are selling in the auction offset by actual entry of goods into the country," stressing that "the bank needs to control more and cooperation by the banks."

The Cabinet decided, in (16 October 2012), the prime BSA Abdul Basit Turki management as central bank governor and the agency, having issued eliminate an arrest warrant for Bank Governor Sinan al-Shabibi on corruption charges, pointing out that Shabibi fled out of the country After the issuance of the memorandum.

The central bank held daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of public holidays in which the Bank stops for these auctions, and sales can be either in cash, or in the form of remittances sold abroad for a certain commission.

It is noteworthy that the pace of accusations mounted on the smuggling of currency that has cast a shadow on the sale price of the dollar in the local markets and led to increased exchange rate a few months ago, while MPs need to take the initiative on the government to stop selling the currency at auctions the central bank, others stressed that Iraq is losing big money by being smuggled daily out of the border, despite a tribute to many of the specialists in economic affairs on the positives of the auction to reduce the rates of inflation and to control the value of the dinar.

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that what has happened in the field of bank auction and try to reform is the biggest operation against corruption in Iraq, stressing that there is a clear and deliberate to frustrate our work.

Seems like the end of the month would be great timing to get this under control.   :shock: