After scandals escalated, the central bank ousted a company that mediated in the currency auction

After scandals escalated, the central bank ousted a company that mediated in the currency auction

2022-08-21

Central Bank of IraqYes Iraq: Baghdad

On Sunday, the Central Bank of Iraq announced the withdrawal of the license of a mediation company for the sale and purchase of foreign currencies for violating the instructions and confiscating its 50 million dinars insurance, at a time when leaks and scandals increased about the currency auction.

In a statement, the bank said, “In view of the violation of the (Al Habib) company to mediate for the sale and purchase of foreign currencies, the provisions of the instructions regulating the work of mediation companies and the purchase of foreign currencies, it was decided to withdraw the company’s license.”

He added, “It was also decided to confiscate its insurance deposited with the bank amounting to 50 million dinars in favor of this bank,” calling on the Ministry of Commerce to “cancel the certificate of incorporation granted to the company in addition to writing off the company’s name from the records and providing the Central Bank with the certified liquidation letter.”

And the latest revelations about scandals in the currency sale auction, were what was revealed by competent authorities that the banks of the clutch, Al-Ansari and the Middle East, affiliated with businessman Ali Ghulam, were granted about $2.5 billion during the 50-day period preceding the date of the exchange rate change, amounts equivalent to 30% of the sales of the Central Bank. During that period.

yesiraq.com