Parliamentary Finance: $ 312 billion out of Iraq within ten years

Parliamentary Finance: $ 312 billion out of Iraq within ten years

06/11/2015 (00:01 pm)

Baghdad / al-Suhail Ahmed

Parliamentary Finance Committee confirmed on Wednesday, that the money that came out of Iraq within the framework of activity of government import estimated at approximately $ 312 billion in the period between 2004 to 2014 from funds derived from the volume of oil, and as pointed out that extrabudgetary funds Taatkhalha operations corruption and suspicious operations, draw economists that the activation of productivity and industrial and agricultural sectors, will contribute to the prevention of money out of oil revenues.

The decision of the parliamentary finance committee, Ahmed Hama Rasheed, in an interview for the “long” that “the Finance Committee is currently following up the financial crisis experienced by the country, especially the currency and problems in an auction as a result of banking operations as well as follow-up to what is happening in the banks,” he said. ” The Committee is concerned is currently following up the money that came out of the country in previous periods. ”
He noted that “in addition to smuggling and money laundering operations as a result of corruption there flight operations of money as a result of not creating a favorable environment for investment in the country,” pointing out that “the investigation is continuing to determine how much money that have been washed and smuggling. ”
He continued by saying that “the law passed the House of Representatives follow up and monitor the money, the Finance Committee and asked all banks operating disclose their accounts to follow them and work with the central bank as money laundering law which is certified by the law but there is weakness in its implementation by government agencies. ”
A member of the Finance Committee, said that “the money that came out of Iraq in the period between 2004-2014 government import activities nearly $ 312 billion of funds derived from the sale of oil, estimated at up to $ 565 billion for the same period the volume”, adding that “money outflows Taatkhalha Operations corruption suspicious and operations, as well as the lack of need for Iraq to this vast amount of imports. ”
Furthermore, said Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, in an interview for the “long” to “reduce, monitor and money laundering, smuggling measures, judicial inside and outside adviser Iraq, and you need to follow and comment of money smuggled and laundered, and we need to lawyers and documents and must be effort continued to get to the results, where most of the money this activity are public funds and funds derived from the crime or terrorism. ”
He continued by saying that “work is continuing to address the crimes laundering and smuggling money and the pursuit of public money and there are regional and international cooperation and procedures continuing to reduce these crimes. ”
and the rehabilitation of the productive sectors and the advancement of their betterment to limit the Iraqi money out, in favor of that, “said the Supreme Council for the reconstruction of Iraq passed in the budget law for 2015, and there is legislation to law is scheduled to acknowledges in the House of Representatives, and will be responsible for vital installations which affect the Iraqi economy, the development of a file. ”
For his part, said economic expert, on behalf of Anton, in an interview for the “long” that “the amounts you spend monthly for the purposes of import is estimated at $ 3 billion for the import of consumer goods the lack of internal production, as Iraq distracted annually nearly $ 85 billion for this activity, “adding that” the majority of imports are industrial and agricultural as a result of the cessation of the productive sector and this is what led to the exit of the money. ”
and the censorship imposed on money outflows, said Anton, that “currently there are strict control on foreign remittances and not, as has been happening in the past, where calls for official bodies to prove all amounts used to import through official documents certified by external and internal official bodies and through customs,” pointing out that “in previous years there has been loose in the import from multiple outlets border without Kmarkip fees, but now Vtm application of customs tariff to curb this situation. ”
He noted that “there are five government agencies responsible for the seizure of exit file namely the control of foreign exchange department, and the department money laundering, economic, security, customs and the central bank, To adjust the money out and achieve material imports and reduce the phenomenon of Iraqi funds leakage process. ”
He concluded his speech by saying that “not to encourage productive sectors, industrial, agricultural, work indirectly to serve the money flight, and activation of these important economic sectors will contribute to the prevention of out money oil rents and building sectors a productive foundation reduces the unemployment and poverty rates. ”
The Central Bank of Iraq, announced (17 March 2015), the adoption of a new mechanism for the payment of taxes and control of “money laundering” through prepayment of taxes and customs for goods entering Iraq, returned to that will double the country’s imports, in when she saw border crossings body, that the new system “is not without its problems,” despite the possibility of downgrade “corruption.”
The parliamentary Finance Committee has, in the (April 6, 2014), the formation of a pentagonal committee to follow up the money laundering and the smuggling of the dollar to outside country. Asserting that stop the manipulation would raise the value of the Iraqi dinar against the dollar.
The current year’s budget law, it has committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in the daily auction ceiling does not exceed 75 million dinars, with exercise Justice in sales, and demand co-auction the bank to provide input goods documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and otherwise apply the penalties provided for in the Central Bank Act or regulations issued by, and the use of other banking instruments to maintain the strength of the dinar against the dollar.

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