Economists: speculators profit from the sales of “dollar auction” 216 million

Economists: speculators profit from the sales of “dollar auction” 216 million


Central Bank of IraqBaghdad / Orr News

Sources showed a competent economic affairs fears of increased sales volume of hard currency with elections approaching, in a scenario happened in the last parliamentary elections, and as confirmed speculation that these huge profits go back to those who lead these transactions, warned of suspicious transactions through an auction sale of the currency.

The sources said that “the volume of dollar sales for the past month, amounting to 4.6 billion dollars, is the largest number of its kind during the past three years,” adding that “this abnormal growth of sales volume repeats such as last parliamentary elections, which took place in (2010).” The sources pointed out that “a repeat scenario with elections approaching demonstrates that there are suspicious transactions behind the auction the dollar, especially since the rate of interest earned by the parties or the party that buys the dollar amounting to 216 million dollars, a percentage of the revenues do not derive any company in the world within one month “.

The sources accused Wills hidden behind selling the currency and buying them, especially since the group Iraqi banks eligibility are buying this size of cash making profits strewn on the heads of decision makers and gatekeepers of the whole process. Sources confirmed that corruption in the sale of the dollar taking place beyond the control of the central bank, and stick to the charges directly to banks that buy the currency.

He was a member of the Committee on the economy and investment parliamentary Aziz Sharif Mayahi, was charged on February 12, the central bank to take action weakening of the dinar against the dollar, warning call its governor Abdel Basset Turki, the parliament in the event of the continuation of that policy “suspicious.” As promised Association Chirvien Iraqis, in 26 of February 2014, the central bank’s decision inventory distribution outlets of foreign currency in banks own, contrary to the principle of the free market, and lead to a monopoly of foreign currency, and disrupts the movement of goods, and appealed to the bank to reconsider its decision. mentions that a number of owners of companies banking financial criticized In December 2013 the past, the clampdown that followed the central bank and the routine which controls procedures, and argued that they can not approach the office of any employee to ask about the fate of their transactions, and that the Bank lacks regulations in its dealings, and that puts him instructions and controls “harsh and the unfairness “.