Central Bank: the amounts excluded from the auction sale more than $ 4 billion

Central Bank: the amounts excluded from the auction sale and purchase of foreign currency more than $ 4 billion

Saturday 23 February 2013

BAGHDAD – babysit – The Governor of the Central Bank of Iraq and Abdul Basit Turki Agency had been excluded more than $ 4 billion of questionable health of their origin or their lists of participating banks auction buying and selling foreign currency, starting from 10/15/2012.
He explained in a statement today that “the increased scrutiny on auction transactions buying and selling foreign currency prevented several banks from entering the auction for a certain period of time and subject to audit transactions exceptionally large size of their transactions.”

“The largest 5 banks purchased foreign currency is the Bank of the Middle East and North Bank and the Bank of Arbil and the United Bank and National Bank.”

He said he had been expected during the phase change and activate the control exchange rates to rise more, especially as the previous administration had scrapped the upper limit allowed for private banks to sell to citizens, and therefore there is no legal restriction required banks to observe that only advice. ”

He explained that the current administration has not yet granted any vacation of any foreign bank to open a branch in Iraq, while granted leave and allowed her to enter the auction by the previous administration before 10/15/2012.

He noted that “all the lists being audited as instructed by the previous administration, which was given six months to verify the authenticity noting that he and the discovery transactions fictitious or fraudulent are taking action by the Bank and the prosecution of corrupt and companies manipulative Bmstndhath which should be referred consecutively to justice.”

The bank called all politicians to investigate the accuracy and objectivity to talk about the activities of the Central Bank of Iraq to these conversations and statements of an impact on economic changes and investors’ decisions … p / i