Abadi: Central Bank has a database for only 5 percent of the funds disbursed

Abadi: Central Bank has a database for only 5 percent of the funds disbursed

The time on Monday, 08 October  2012

Baghdad / Orr News

A member of the parliamentary fact-finding committee formed to investigate the dealings of the Central Bank of Iraq, Haider al-Abadi, Sunday, on the highlights of the Committee’s recommendations, which led by central bank does not possess a complete database of the money you spend.

Ebadi said the head of the Knesset Finance Committee that “the recommendations of the investigation committee focused on two main points the first relating to a information on the mechanism used for the bank in the protection of Iraqi funds, and secondly relating to tighten controls on private banks’ dealings with customers.” Abadi said that “the central bank has an information base for only 5% of what spend money which caused the widening of the gap between the Iraqi dinar and the dollar.”

Revealed Truth formed by the House of Representatives, which includes the heads of “Economic and Financial Committee and the Audit Court” last month about the existence of collusion of some officials and advisers in the Central Bank issue currency auction sale.

And was a member of the Finance Committee Haitham al-Jubouri has revealed early last month about the involvement of influential political figures “undisclosed” the phenomenon of smuggling “5-10″ a million dollars a day through an auction sale of currency, and stressed that the money part of which would go to support “terrorism.”
Source: uragency