Attempts to undermine the regional economy and the Reserve Bank
Attempts to undermine the regional economy and the Reserve Bank
Posted, 04/08/2013
Baghdad, Ja’far Al-Nasrawi
The Head Office of control of the money and the Iraqi Central Bank Governor Abdel Basset Turki said that regional States seek in one form or another to destroy the Iraqi economy through financial and banking war. He noted that Iraq today largely reassured after the reserve amounted to approximately $ 80 million of hard currency.
Abdel Basset Turki said in an interview with “today” that large irregularities identified by the Office of financial supervision for years in the work of the Central Bank of Iraq as the Cabinet is responsible to follow the work of the World Bank and the Government of Iraq decided to end that costs me to notice undefined management the World Bank agency to reduce and eliminate these irregularities gradually to ensure the safety of the backbone in the Iraqi economy.
Turkish and regretted it when his bank did not find a real Foundation, “even though I charge directly on the work of the World Bank as Director of the Office of financial supervision in Iraq and to the details but didn’t expect it to be this bad for poor oversight of banks and auction sell nor database of private banks in the Bank documents letters of guarantee for banks when borrowing from the Bank to cover cash transactions and there are plans to build specialized cadres or real restart as there is no policy Specific cash discussing buying and selling foreign currency exchange value is determined not to fall into the trap of treating others thoughtfully to the difficult process that is difficult to offset ”
The Turkish “rate of sell the currency before we receive your task as Governor of the Bank amounted to $ 280 million a day today the Bank is selling at a rate of between 160 million to 180 million a day, six days a week so we can control the rising value of the dollar against the Iraqi dinar through window selling, particularly in the Bank for direct sale however I see that $ 100 million is sufficient to control the transactions of sale and purchase, so that we can control the transactions of sale and avoid money laundering and financial corruption.”
Turki said that the Bank still did not reach the full 100 percent control over the validity of transactions of sale in auction, indicating that the Bank has a problem now and is in control, there is not enough control to continue selling dollars because the Bank only has 3 staff to monitor sales and documented 33 private banks and hundreds of millions of dollars in addition to a specialized Committee on accounts to audit only and there is no documentary proof, pointing out that he began work on the documentation now via three Windows validation document sales process including a third bank from which the transfer is to ensure that documentation in three places.
Turki said that in previous years were found after investigation that the sale of hard currency, there was no corresponding goods to Iraq for lack of polyglot customs system monitors the entry of goods so that we can control our foreign exchange liquidity and must achieve the target entry of goods into the country in order to avoid money laundering or smuggled abroad.
Turki said that some politicians drawn into the Central Bank in the political game and aspired the post Bank just across the window direct sales for hard currency, and this in itself is a big mistake that the World Bank could play a major role in establishing the Iraqi economy but some sought an opportunity to wash his money to attack the Bank in various ways.
Turkish revealed a regional intervention to destroy the Iraqi economy by trying to jar the regional conflicts in the region through private banks owned by this or that State, without mentioning their names.
He explained that these interventions attempt by some States to persuade the Iraqi Government to put pressure on the Bank to lend to certain banks more than $ 5 billion without real guarantees and rejected the Bank at the time the Iraqi Government has also shown willingness to deposit some in reserve banks for the purpose of strengthening its economy but also rejected the Bank making some politicians accuse the Bank various accusations to discredit him.
Turkish revealed that reserves of hard currency in Iraq now exceeds $ 80 billion, including 30 tons of gold and Bank’s disposal is deposited in banks, including the International Monetary Fund and the bank guarantees at the global level, we monitor the level of dealings and while we feel that one dropped their dealings we transfer the deposit to the Bank safer so that we are assured that Iraq is capable of economic stability and that is what we seek.
Turki also said on Thursday that the Bank is considering a new policy to invest the money away from the Government and the political groundwork for the Government to change the political map and that we were looking for a stable economy of Iraq must work to isolate the Government and economy to make sure that the economy is not affected by the change of Government.
And between Turkish, there are more than 20 cases before the Iraqi judiciary on corruption charges by Bank staff in previous years to facilitate Bank loans for some private banks, noting that the Bank’s new management has continued since the assumption of responsibility by 8 months in pursuing corrupt files and no longer wait for the integrity Commission to look at the files THX integrity but Bank specialist is doing so and closely monitor all financial transactions and surveillance led to the detection of several corruption cases have been referred Their leaves to the competent courts.
The Chief of the Iraqi money control by changing the management of the Bank is the largest face corruption and attempts to reform and we do not target any of the banks but are looking for transparency, a difficult task and there is a clear and deliberate operations to foil the new administration in its work that is challenging in itself.
arabstoday.net
