CBI: The financial sector has witnessed high and liberal Iraq still follow the pre-market economy
Deputy Governor of the Central Bank the appearance of Mohammed Saleh
Considered the Central Bank of Iraq, Wednesday, that the financial sector has seen a liberal high not borne by Iraq, and stressed that he still follow the pre-market economy, pointing out that the other “does not understand” in foreign exchange operations.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh in an interview for “Alsumaria News”, “financial sector in Iraq witnessed a liberal high is not borne by the country which is still tracking an economy by the market,” noting that “this sector has seen a market economy is very high as well as high openness in the development of the country is weak and has high resources and did not move to a market economy after properly. “
Saleh added that “the money out of Iraq is part of the liberal high which is supposed to be Iraq believer,” noting that “this liberal believes in the free economy which allows every citizen to transfer money abroad.”
Saleh also highlighted that “there is a lack of understanding among some of the transfers who seem to think that all the money that comes out of Iraq is money laundering, which is part of the liberal high,” asserting that “money laundering is one of the issues of hazardous resulting from major crimes of murder or theft large and must know the source of the dinar person who wishes to convert. “
The Cabinet voted during its regular Tuesday (16 October 2012), the prime BSA Abdul Basit Turki take over the management of the post of Governor of the Central Bank and the Agency.
A number of media, in (14 October 2012), sources monitoring the Iraqi judiciary issued an arrest warrant for bank governor Sinan al-Shabibi corruption charges, pointing out that the latter fled abroad after the issuance of the note, with the bank denied the news, saying that Governor is currently involved in an annual conference in Tokyo and will return to Baghdad.
And was a member of the investigative committee on the work of the Central Bank of Haitham al-Jubouri confirmed, (14 October 2012), the issuance of arrest warrants and travel ban against Central Bank Governor Sinan al-Shabibi and officials at the bank, and what was seen that the survival of portfolios abroad will prove corruption charges.
And demanded that the Finance Committee in the Iraqi Council of Representatives, the first on Monday (15 October 2012), Central Bank Governor indictees providing evidence, while some expressed fear that these accusations are “politically targeted” for the bank.
The central bank announced in January 2012, that the high exchange rate of the dollar against the Iraqi dinar in the Iraqi market, in addition to higher sales of hard currency back to finance trade neighboring countries by Iraqi traders, noting that sales of hard currency during the beginning of the current year reached double what was sold during 2011.
And committed the CBI in February 2012 all Iraqi banks participating in the auction for the sale and purchase of foreign currency must disclose its clients as a condition of access to foreign currency.
The law against money laundering Iraqi in 2004, put control procedures due to institutions, especially banking, including, as provided lists of the Security Council Committee No. 1267 of the law against money laundering which stipulates the Iraqi Central Bank left and providing financial institutions a list of individuals and institutions that have the financial institutions to report to the body concerned for the Iraqi government for its dealings when they are discovered.
Noteworthy that the Iraqi Central Bank hold daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of public holidays which depend on these auctions, and sales can be either in cash, or in the form of remittances sold abroad for a commission certain.