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A financial control official reveals a new destination for Iraqi politicians' money abroad

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A financial control official reveals a new destination for Iraqi politicians' money abroad

Post by RamblerNash on Sat Jun 23, 2018 10:52 am

A financial control official reveals a new destination for Iraqi politicians' money abroad

Saturday, June 23,

Alsumaria News / Baghdad
An official in the Office of Financial Supervision, the new destination of funds of Iraqi politicians abroad, pointing out that the transfer of these funds were made through exchange companies inside Iraq .

"While Lebanese and UAE banks have been a suitable haven for many of the corrupt funds generated by deals inside Iraq, involving officials and politicians, at least $ 140 million has been deposited in the country," the official said, asking not to be named. Egyptian private banks in less than a year. "

The official added that "these transfers were through exchange companies inside Iraq, the highest rate between Iraq and Egypt since the payment of Baghdad wages of Egyptian workers within the so-called yellow remittances," pointing out that "Egyptian banks granted large facilities to Iraqis, including non-requirement The existence of permanent residence to open a bank account, as well as the adoption of amounts coming from Iraq through the private companies in favor of banks, which was not supported by the former.

He said that "Egyptian banks may be a rival to the UAE and Lebanese, which is known as a preferred place for Iraqi businessmen and politicians alike, which are usually surrounded by suspicion of corruption and money laundering."

The banking relations between Cairo and Baghdad witnessed remarkable developments during the recent period, where the Chairman of the Board of Rafidain Bank Khawla Asadi earlier that the bank is a comprehensive economic and banking study, at the moment, in coordination with the Central Bank of Egypt, after a recent meeting between the leaders of both sides, To resume work in Egypt branch of the Rafidain Bank located in the Dokki district of Giza.


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