Depletion of stocks Iraq from the dollar because of corruption in the currency auction

by **Ponee** Sun Nov 20, 2016 9:34 am

Only in Iraq !! No voice is louder than corruption, there is not a word most popular among Iraqis elsewhere, especially with the spread of international and local documents, to wake up the Iraqis who are tired of killing, displacement and poverty, many of the news and accusations of corruption most recent spin on the currency auction.

Alleged member of the parliamentary finance committee in parliament Majda al - Tamimi, the existence of mafias are traders, was directly linked to the personalities of the current government officials, still dominates the foreign exchange auction at the central bank, which led to the depletion of stocks Iraq from the dollar.

Tamimi added that the auction currency at the central bank window to corruption and billions of dollars Iraq lost due to sell the currency in accordance with the old and innovative mechanisms.

as specialists believe that hard currency auction of the Central Bank of the gate to smuggle money and bleached, asserting that the auction currency is limited to certain companies affiliated to political beneficiaries, while calling for the central bank to cancel the auction of the currency and improve its monetary policy to support the value of dinar.

the drain of Iraq 's money in the auction currency to Iraq reserves decrease of hard currency in the Central Bank to $ 43 billion, according to MP Abdul Salam al - Maliki , a member of the committee of economy and investment , which adds that the central bank sells at auction a month nearly six billion dollars in return and imports oil does not reach that amount.

often revive economic mafias in the absence of follow - up and strict laws and obsolescence of the banking system and mechanisms to follow up the circulation and transfer of cash, and this is the case with Iraq , according to the words of followers and activists , especially since the integrity Commission has recently announced increasing cases of banking fraud and the theft of billions dinars from state - owned banks by check without balance complicity of some officers.

usually private and private banks Matkon bond and a partner is important in strengthening the economic sector and create jobs by supporting special projects or government, but it seems that this will break down in Iraq, facing these banks are the other corruption charges Taking advantage of the currency auction of the Central Bank and is described as "shops" to sell the dollar against the dinar taking advantage of the price difference

http://www.sotaliraq.com/latestnews.php?id=362750#ixzz4QT1HLtGv