Representatives to intervene to stop the drain of hard currency in central bank auctions

The member of the Finance Committee MP Haitham al-Jubouri, Presidency of the Council of Representatives to intervene directly to stop the drain of foreign exchange and money laundering in the central bank auctions

Jubouri said in a press conference followed (Citizen) on Wednesday, “The serious information and many useful obtaining significant violations per day at the central bank, caused by the control of the mafias from inside and outside the bank and limited companies on the auction sale of hard currency, in addition to the lack of seriousness in the activation of the Anti-Money Laundering No. (93) “The Jubouri” there is a danger surrounding the capital deposited in some private banks, as happened in the bank of Basra and Warka, with the absence of regulations and instructions concerning the mechanisms of sale currency “Mhbra to” the importance of the formation of an investigative committee in the House, involving members of the Committees economic, financial and integrity, and to emphasize the need to ensure that the central bank to the capital of depositors of citizens in banks and activate the Anti-Money Laundering No. (93) and stop the drain of hard currency, which reached to (220) billion dollars since 2003, and the need to activate coordination between officials of the financial policy makers and monetary policy in accordance with Article (24) of the Act (56) issued by the Coalition Provisional Authority’s central bank. “

Clear Jubouri that “you must make sure of import licenses and the health issue and the adoption of special offices are heavily censored and the Supreme Audit to ensure that the exploitation of this section for money laundering, and activating the role of Supreme Audit to sell the currency and activating the role of the Ministry of Interior and National Security mechanism for direct inspection of the banking offices”

Hanbh of likely member of the Committee of Economy and Investment Deputy Qusay Juma, a decline in demand for dollar in the domestic market during the coming period due to the cessation of trade between Iraq and Syria and Iran, because of the political crisis with their two countries.

Juma said in a press statement on Wednesday that “trade between Iraq and the states of Iran and Syria, semi-disabled because of what witnessing these two countries of security conditions and political unstable and difficult to transport goods to and from Iraq, what will drive to the stability of the exchange rate of local currency due to lack of demand for the dollar in the market, “he said Friday” is that the increased demand for dollar in the local markets during the last period came through traders Iranians and the Syrians who go to the Iraqi market and buy the U.S. dollar in Iraqi dinars, as well as by injecting large quantities of goods for depletion of foreign exchange, what increased the exchange rate of the dollar against the parents “

On the other hand reported a member of the Committee of Economy and Investment Attorney Nora Albjara, that the House of Representatives received a formal letter from the Central Bank containing details of the project to delete the three zeroes from the currency and calls for its application early next year, saying there is no objection large by the House of Representatives on the implementation of the project that the country is still not fit to replace the national currency.

The Albjara “The Central Bank of Iraq sent a letter to the Committees of Finance and economic development in the House of Representatives expressed its readiness to implement the project to delete the three zeroes from the currency over the next year and contains a detailed explanation of the project and the stages of implementation for the purpose of discussion in the House of Representatives and the time limit to apply to” set out “that most of the members of the House of Representatives rejected the application of the project in the next year being a big project and needs to be enough time for discussion and study, as well as they see that Iraq is still not ready ready for the implementation of this project and fear that casts a negative impact on the national economy and the local currency.

“she said Albjara” that the parliamentary Economic Committee will hold a meeting in the coming days to discuss the project and which may be called the Governor of the Central Bank and hosted by the House of Representatives to clarify the application of paragraphs of the stages of the project and the possibility of readiness. “

The Central Bank of Iraq announced (29 September 2011) that the year 2013 will see the deletion of zeros and switch the currency, which warned him, officials and economists because of the presence of mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the upcoming changes.

The Council called for the prime minister’s central bank to wait a project to delete the zeros of the three local currency, saying he was a big project and needs to be enough time to apply it.