CBI: It is not our duty to prosecute traders and smugglers

BAGHDAD / Baghdadiya News / .. I consider Central Bank of Iraq, Wednesday, mechanisms for the prosecution and the arrival of the goods until the final users, they fall outside the scope of his powers.

The central bank said in a statement and received / Baghdadiya News / copy of it, that “the auction of hard currency which is conducted by the Bank became funded many operations, import,” noting that “Auction currency is a tool of monetary policy the central bank to achieve the principles and fundamentals of the policy and objects of multiple”.

The statement added that “the central bank to meet the requests for conversion all, other than those relating to money laundering and the financing of crime and terrorism, which works on verification and then converted to the security-related,” pointing out that “the Bank was able through a mechanism to auction currency of pumping nearly 200 billion dollars to the Iraqi market since 2004 and create a balance between supply and demand for the dollar. “

The Central Bank estimates the size of remittance abroad as constituting 80% of the volume of sales of the dollar in daily auction, and mostly go to cover the expenses of import for the benefit of traders,