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Officials Must Investigate Buying Huge Amount of Dollars by Local Banks: Chalabi Empty Officials Must Investigate Buying Huge Amount of Dollars by Local Banks: Chalabi

Post by Kevind53 Wed Aug 15, 2012 10:32 pm

2012/8/15 11:00 - sabah

Baghdad (Alforat TV): Ahmed al-Chalabi the Head of the National Congress Party, called the Financial Supervision Office and the Central Bank of Iraq to investigate the sides that are behind buying huge amounts of US dollars by the local banks, since it is known that these banks are forbidden to buy the foreign currency or speculate them for their accounts without reasonable justifications according to law and regulations.

"The Iraqi banks paid IQD 3,749 trillion in April 2012 and IQD 4,634 trillion to buy US dollars in May, while they paid 4,177 trillion in June for the same purpose”, said Chalabi

"How could these banks get these massive amounts of dinars to buy dollars at an auction in the Central Bank of Iraq?” wondered Chalabi and adding “CBI must check from where the agents got such a large sums of dinars to buy these huge amounts of dollars,"

http://en.alforattv.net/modules/news/article.php?storytopic=1&storyid=1604

That's over 12.5 trillion dinar remover from circulation and replaced with USD in three months. Good news, and it fits with the reducing liquidity story yesterday.

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