Only 5 percent of foreign remittances are legally
Baghdad, Tariq al-Araji,
detection of the Secretary-General of the Council of Ministers on the Keywords, revealed that the amounts smuggled out of Iraq over the past years is estimated at $ 180 billion, pointing out that less than only 5 percent of remittances are by legal means.
and he said: “morning”: that “when the government urges the Central Bank to intensify its control over the movement of funds, it is not an interference job bank, but was meant to preserve the public money.”
He explained that a report previously issued by the Audit Court affirmed The operations of foreign exchange is not according to the law or the instructions, in addition to that, the central bank at the time a request from the Ministry of Finance to form a working group to audit the operations of foreign exchange, indicating that the audits of a sample of $ billion in foreign remittances have shown that ten million dollars, of which only are documents and documents fundamentalism, and other transfers took place without any document and turned the amounts out of Iraq.
He added that the team raise timely report to the government asserts that this process raises suspicion, anxiety, and indicate the existence of operations to smuggle money targeting national economy, describing it as a great shock to the government because they were found that less than five percent only of the transactions are conducted under the legal cover under the documents in the country is still vulnerable to corruption and money laundering and the financing of terrorist crimes.
The Keywords that the government had asked in light of this, from the Deputy Prime Minister for Economic Affairs Rose Nuri Shaways organize a meeting of the relevant authorities relationship with the Central Bank to find out the problem of control over the performance of the banks and control of foreign remittances.
and revealed that the BSA was accused during the meeting, the central bank to exceed its law such as allowing the importation of the dollar abroad, an issue that counted Keywords serious and poorly understood, he said, adding that the bank replied that this work falls within the policy and independence, noting that the Court of Auditors addressed then the Council of State to consider whether that work falls within the powers of the Bank, came answer the Council of State that the import dollar from outside Iraq, is contrary to the Bank’s work.
The Secretary-General of the Council of Ministers that he was required to governor the central bank to tighten controls on the movement of money, and activate the Office of the Inspector General appointed by the Prime Minister, but the bank refused to direct the Inspector, in addition to the Bank’s call to activate the Office of Money Laundering of the law as one of the formations of the central bank responsible for the review of conversion processes, indicating that these claims come to support the bank and not interfere in his work as is rumored, the fact that the government is responsible for managing this process and the preservation of state funds and funds of the Iraqi people.
promised Keywords “for defect at this level and uncertainties of running billions of dollars in a country trying to build its economy, it means that other efforts for economic reform will does not lead to desired results. ”
and that the central bank governor vowed then to take some measures that limit the smuggling of currency and monitoring the work of banks, but the government has not seen any results of the action, and arrived at the things that turn from Iraq $ 180 billion without a document or document conversion or out, especially that this amount represents half of revenues of the country during the past years, and that out of these funds is in accordance with processes and fake titles lined, raising suspicion and wonder.
He pointed out that the constitution, which was issued after the Central Bank Law, said the monetary policy, issuing currency and the establishment of the Central Bank and his administration within the jurisdiction of the federal authority, in addition to the general policies of the state drawn by the Council of Ministers as the executive branch, while the Central Bank Law obliged to control the performance of banks, whether governmental or private organizations, and control over foreign exchange and compliance controls to allow the transfer of money abroad, in addition of its functions to contribute to stimulate the economy and address unemployment and others, explaining that the government through its monitoring of the performance of the central bank noticed a flaw in his work, especially in the work of control rather than on expenditures or transactions of the Bank, but on the level of control on the movement of funds, conversion and circulation and smuggled abroad.