The central bank stands ready to cooperate with regulatory authorities to investigate the dealings of the currency market

Showed the Iraqi Central Bank, on Sunday, his willingness to cooperate with regulators to diagnose shortcomings Ptaamlath in Foreign Exchange Market, as he defended his work in the exchange market and fight for inflated prices, it was considered that all the concepts on which the currency auction based on the provisions of the Constitution.

The bank said in a statement issued today, and received “Alsumaria News”, a copy of which, “The Speaker said when he received the central bank governor and there is a need to investigate the dealings Bank Foreign Exchange Market and view the matter to the Integrity Commission,” expressing his “willingness to cooperate with regulators to diagnose the shortcomings. “

The central bank on “focus in the defense of his work and his accomplishments, especially in the exchange market and the stability of the market and fight for inflated prices with an explanation of all the concepts on which the auction of foreign currency,” adding that “these concepts of the tools of monetary policy and based on the provisions of the Constitution and the law of the Central Bank force. “

And called on the central bank to “publish all the results of the committee formed by the House of Representatives and responsible for monitoring the work of the bank,” stressing that “the Commission has conducted its investigations and come to the results with a complete absence of opinion Bank and ignorance of the issues that were investigated.”

The House Speaker Osama Nujaifi revealed, Sunday (7 October now), the existence of suspicion of corruption in the work of the Iraqi Central Bank, while noting that the Council proceeded to achieve “depth” in the policy of the central bank since 2003, vowed to pursue the investigation ” personally, “the importance of the issue.

The Nujaifi in, (26 September 2012), the importance of the independence of the central bank and the priority follow-up daily auction of foreign currency, as pointed head BSA Abdul Basit Turki Hadithi to near present the results of the Committee’s report investigative on daily auction organized by the bank to sell the dollar on the Council.

The MP for the coalition of state law Haitham al-Jubouri in (12 August 2012) for the formation of an investigative committee will visit the central bank and look at the records and the numbers, sales and people who earn hard currency, noting that the work of the investigative different from the Commission’s work regulatory Council approved formation , which includes the heads of the financial and economic committees and BSA.

The Central Bank of Iraq announced, (11 August 2012), the high reserves of hard currency to $ 67 billion, confirming that these reserves are the largest in the history of Iraq, pointing out that these reserves is one of the monetary policy to reduce inflation in Iraq.

The central bank held the Iraqi daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of public holidays in which the Bank stops for these auctions, and sales can be either in cash, or in the form of remittances sold abroad for a commission certain.

It is noteworthy that the pace of accusations escalated on smuggling currency that overshadowed selling prices dollar in local markets and led to increased exchange rate months ago, while deputies asked the need to take the initiative on the government to stop selling the currency in auctions the central bank, others stressed that Iraq is losing substantial funds by smuggled daily out of the border, despite the praise of many specialists in economic affairs on the positives of the auction to reduce inflation and to control the value of the Iraqi dinar.