Despite accusations Central Balvesad..alpennek clings to "sell the currency window" and confirms no substitute them

by **Ponee** Mon Jan 23, 2017 10:49 am

The governor of the Iraqi Central Bank on the Keywords, the lack of fundamental change in the process of selling the dollar currency by a window, except for some regulatory controls, describing the central bank's currency reserves are hard to (reassuring).

And he denied the existence of any influence of currency auction on the reserve, while calling on the boards of directors of private banks not to involve themselves executive matters, so do not put themselves under penalty of perjury.

Keywords said in a press statement spoke out to the media, said that "Iraq's reserves of reassuring the dollar, within our calculations in the light of a review of the International Monetary Fund minute for the coming years."

"The Reserve Aigas number absolute but within Almaaarata to be Bakdrahjm local currency traded Awaktrmenha, bringing the reserve dollar still Bmekdarmenasp of efficiency and size," adding that "the size of the reserve Itagariomia according Maystlmh Central Bank of Dolarmen the Ministry of Finance, and Maaabieh of Dolarmen through currency window, saying he does not have an exact figure because Mngergirthapt reserve. "

And on the charges, which some directed by the Central Bank Btafrath reserve Iraq of currencies that are hard, the governor said: "This speech reflects the lack of briefing and understanding of the process of selling the dollar, which is normal in all countries of the world, where the swap trillions of dollars held annually in buying and selling operations in the markets." , adding that "the situation in Iraq is more pronounced than those countries because of the exigencies of dollar selling by the central bank because one dollar source is the government you through the process of the central bank sold for Aldenarabraghi of the market."

The governor saw that the window for an alternative to dollar selling by the central bank, saying the central bank stopped or reluctance to sell the dollar, will lead to the collapse of the Iraqi dinar, the higher dollar exchange rate tremendously. "

He said: "It the absence of any material changes with the exception of a review process from time to time and the other banks involved in the window to determine the share of each bank in accordance with the standards regarding the extent of its commitment to the rules and procedures of trust operations and their validity."

And on the work of banks in the sale of the dollar stressed the parliamentary finance committee member Ahmed Sarhan, the private banks are subject to the law in their work, while noting that it licensed from the state and the central bank.

Ahmed said in a press statement, said that "private banks licensed by the state and the Central Bank," adding that "those banks are subject to the law of the banks."

He pointed out that "any violation of these banks at the auction of the currency would be punished," pointing out that "the central bank can take all measures against violations of those banks."

He stressed the need to "work the central bank to the fullest to control the work of private banks in the auction of the currency."

The central bank announced, all signs cooperation agreement with one specializing in the field of training and consulting international institutions.

And Ujae Vophsi statement Tqlt / balances News / copy of it, that "the Governor of the Central Bank of Iraq on the Keywords signed a memorandum of understanding with one specializing in the field of training and international institutions and consulting services to support the central bank's efforts to combat money laundering and terrorist financing and consulting for compliance and risk management activities and develop capabilities in this field. "

The statement said, "These activities and events financed by a group of donor countries in the framework of the Convention."

A source in the Iraqi Central Bank, that the bank will depend on the other beneficiaries in the process of selling the dollar, unlike in the present time, as explained that the instructions issued regarding currency aim sale "to control the sale of the dollar window and find out the source of exchange,"

The source according Manglth (Economy News) that "the new regulations require private banks to provide documents showing the sales of the dollar and the names of the recipients."

The source said that "the instructions issued by the central bank about the currency goal of selling control of dollar selling window as well as knowledge of the source of the dollar," stressing that "it is for that relied on documents provided by private banks which show sales of the dollar and the recipients."

The source explained that "previously relied window sell the currency on the bills dealers offered to banks, who in turn submit them to the Central Bank of Iromon be obtained on the dollar, which, according to the Central Bank of the mostly not true," adding that "the bank wants the banks to prove who is the another beneficiary received on the dollar until the central bank can contact him at random and making sure picking on the currency. "

Auction sell the currency at the central bank to Aaakhlu of corruption, according to revelations deputies in Parliament, where she said the Parliamentary Finance Committee member Majida al-Tamimi, said the very large corruption files in your currency auction of the Central Bank, indicating that the currency "fad" auction.

She said Tamimi's / balances News /, "The money that has been stolen in the auction currency is very large and that the size of the auction just a fad and Ahtkrth politically influential commercial layer linked to each other and fielded oil imports auctions in order to steal people's livelihood."

She added, "The Central Bank reserves decrease gradually because of those bad process of stealing the money under the cover of so-called auction currency."

The Committee on Parliamentary Integrity has formed sub-committees to open an investigation of auction sale of currency, where MP Abdul Karim Alabtan, that "there are sub-committees within the Integrity Commission is investigating the auction process in the Central Bank of the existence of suspicions of major corruption"

01.23.2017

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