Tohme: Intermediary banks win trillions of dinars from the currency auction annually

by **claud39** Wed Nov 25, 2020 9:55 pm

11/25/2020

{Baghdad: Al Furat News} The head of the National Approach bloc, Ammar Tohme, said today, Wednesday, that intermediary banks are winning trillions of dinars from the currency auction annually.

In a statement, Al-Furat News received a copy of it, Tohme said, "We reiterate our demand to stop the huge financial losses resulting from the auction of hard currency selling to the Central Bank, and we explain its details in the points below: -

1. The monthly sales figures for the dollar in the currency auction after the jumps in its selling price in the market show that the state lost more than 200 billion dinars per month, which are unlawful and unjustified profits go to the benefit of parasitic banks that subsist on depleting hard currency in the most bad economic conditions for Iraqis.

2. If these huge sums were provided and allocated to support the private sector and other productive sectors such as industry and agriculture, they would be able to move the market and create productive and development activities that provide more job opportunities for young people and reduce the foreign currency exit outside the country, while these banks acquire these large sums without having them. Little role in economic activity.

3- The central bank must bypass these intermediary circles of parasitic banks that deplete hard currency and adopt mechanisms guaranteeing the granting of dollars to actual traders and other citizens directly in order to save several trillions instead of going to borrow and its burdensome effects in the future and in the future and reduce the illusory rise in the prices of imported goods that pays its bill Citizen Consumer.

4. As a result of the obscene difference between the selling price of the dollar sold from the central bank to intermediary banks and the selling price in the market, which ranges between (50-60) dinars per dollar, the total profits of those banks from selling the bank to nearly four billion dollars per month ranging between (200- 240 billion dinars per month.

5. We demand to impose taxes on banks at a rate of no less than 25% of their profits, and if the tax of their proposed profits is collected, the amount of (50-60) billion dinars will be available monthly to the public treasury and be more than (600) billion dinars annually.

Forgiveness Al-Khalidi

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