Central moves to calm fears of money laundering

On: Wednesday 4/4/2012 9:15

 translation-term 
 central bank tightened its grip on the sales of the dollar amid fears of money laundering used by buyers, and also to reduce the international sanctions imposed on Iran and Syria, the two neighbors. 
fear of the increasing demand for the dollar over the past few weeks,

Bank has revealed the first Monday of the new instructions imposed on customers to prove their identity through the provision of import licenses and tax records. The second… fracture during the two months in foreign currency exchange market highlights the erosion that affected the economic controls by years of conflict and the invasion of an alien who has taken the importance of large-scale central conflicts in the region. Says Deputy Governor of the Central Bank of the appearance of Mohammed Saleh: “Iraq is free while the two neighboring countries are regulated by the sanctions, and we can expect that the consequences will be severe and will expand.” He said Mr. appearance that the government was concerned that the increasing demand for the dollar to 400 to 450 million dollars per day due to its use in criminal acts and to the Iraqi mediators who settle the debt on behalf of clients in Iran and Syria.

the new regulations will force all traders of buyer dollar auction of the central bank to provide the support the safety of their position on taxes as well – from June 30 – papers entitling them to import goods that say they use the money to buy them. Tax papers – which were previously provided only for the applications of 50 thousand dollars and above – are part of the numerous efforts undertaken by the government, “to see real people who are seeking to the dollar.”He also said the appearance of that claim buyers pay by the instrument and not the cash has failed because the buyers who are ashamed of purchase publicly they hire a third party, such as “porters from the streets” to open bank accounts on their behalf. 
demand for the dollar rose again on Monday to about $ 380 million , in what may be a response to thwart the new regulations are fully implemented before the end of this week. Said one Western diplomat presence of international concern from the drop-censorship on the trade of the dollar in Iraq in order to “support the economies of certain regional,” and “There is great interest on criminal acts, but we care more about Iran and Syria.” 
Some analysts say that the link with Iran and Syria is just predicted, and point to other possible causes to the request of the dollar, including collecting money and run away from the capital in the days that preceded and followed the American withdrawal from Iraq. 
The central bank also has an economic interest in the maintenance of dollar sales everyday at the limit of $ 200 million per day or less for the purpose of non-exhaustion of currency reserves foreign country. 
still uncertain whether the Bank’s efforts last more effective than his previous, in a country torn apart when the state institutions because of the dictatorship of the former regime, and the U.S. invasion and sectarian war. 
in the Karrada district of Baghdad is different traders currency, who spread their offices between the stalls, juice, clothing stores , about whether the dollars go to Iran and Syria, but they agree that the buyer of the U.S. currency always find a way to avoid scrutiny and inspection. Abu Hussein – one currency dealers – showed a document outlining six requests from customers in quantities just below the ceiling, which entails tax, three of them say they need money for medical treatment and three for tourism. When asked about the validity of these requests, said Abu Hussein, “of course it was not for tourism or treatment, but is a business.” Another trader says “do not ask the person who comes to me to ask him what he would do the dollar. The terrorists being smuggled to Iraq, do not you think that the smuggling of currency out much easier?”.