Finance: smuggle $ 800 million a week from Iraq to the outside

Parliamentary Finance: smuggle $ 800 million a week from Iraq to the outside

on 11/03/2012 | Author AN 1:02 p.m.

BAGHDAD / electronic integrity

Revealed the Finance Committee in the House of Representatives, as mechanisms for smuggling $ 800 million a week from Iraq to abroad, noting that one of these mechanisms is the replacement of the currency “dollar” in other cash.

A member of the Committee Haitham al-Jubouri in a press statement that according to statistics the state are sold each year to Iraq nearly (55) billion dollars of U.S. currency, noting: that the money part of them coming into the Central Bank of Iraq and the other converts from the Federal Ministry of Finance to the Central Bank, where gives Bank for the money of the state in Iraqi money through banks.

The Jubouri: that $ 800 million of that amount escapes a week outside in order to offload the country of hard currency.

He Jubouri: that the smuggling of $ 800 million a week out is according to a mechanism which circumvent the law, either by replacing currency cash other local, which is not the sense of theft, but the goal is to offload the country’s hard currency, or through money laundering.