Finance Committee criticized the Central Bank is demanding to cancel the auction currency

Finance Committee criticized the Central Bank is demanding to cancel the auction currency and keep it away from partisan quotas (details)

06-12-2015 03:00 PM

Finance Committee criticized the Central Bank is demanding to cancel the auction currencyCriticized the parliamentary finance committee member Majda al-Tamimi current Central Bank, “stressing” the need to cancel the auction currency and the dimensions of Directors of the Bank for quotas partisan and political. ”

said Tamimi in a statement today, it said that “political and partisan quotas confused the work of government institutions, especially the economic ones.” stressing “the necessity to run the central bank by specialists economy and money, not according to the quotas that have caused the destruction of Iraq’s economy.”

explained Al-Tamimi “The currency auction in a large increase in spite of our pleas many of the Central Bank of the need to reduce the sales of hard currency, especially since the These sales sometimes be covered by the reserve value negatively affect the quantity, “stressing the” importance of maintaining the size of the reserve and in line with international standards.

“It pointed out that” there is a great imbalance in the currency auction, “noting that” the central bank customers from the private sector buy dollar at the official rate under the pretext of covering imports State and this move carry an imbalance intentional, the fact that the sale of the dollar at the official rate goes into the pockets of the corrupt.

“and was amazed Tamimi of the” insistence of the central bank to hold an auction of the currency, “she wondered,” Is there in the neighboring countries, an auction of the coin as is the case in Iraq .

“suspicions of corruption and operations of money laundering and raised across the central bank auction where announced, specialized issues of integrity and economic crime and money laundering a misdemeanor court, on 20 August issued sentences of imprisonment and a fine against officials in the Rafidain and North after being convicted on charges of corruption and money laundering, a banner in Earlier, the presence of 20 defendants in this some issues largely chairman.

“The Supreme Federal Court, announced on the sixth of July, several articles unconstitutional in budget 2015 law, including Article 50, the judge to” compel the Central Bank identifies sales of hard dollar currency in its daily auction ceiling does not exceed $ 75 million a day.

“with the exception of Governor of the Central Bank and the Agency on the Keywords, the court’s decision as” came in accordance with the Constitution and the Law on the Central Bank, which is a great importance because of its impact in promoting and supporting the independence of the bank and keep it out of influence the policies and decisions.

“The relationships declared in 20 of the month of November last that the bank reserves of foreign exchange of 60 billion dollars,” adding that “enough for six months,” noting that “the Central Bank is working on the application of parallel policy to maintain the overall stability of prices and curb inflation. ”