In the document … a deputy questions the governor of the central bank for violations of dollar sales and how to dispose of them
In the document … a deputy questions the governor of the central bank for violations of dollar sales and how to dispose of them
04/06/2021 14:50:11
A member of Parliament, Representative Jamal Al-Muhammadawi, addressed the Central Bank of Iraq regarding controlling dollar sales and the way it is disposed of, asking about the sales differences and their coverage from the bank’s foreign currency reserves.
A document issued by the Office of Muhammadawi, addressing the Governor of the Central Bank, revealed, “Referring to the reports of the Federal Office of Financial Supervision, the quantities of US dollars sold in the foreign currency auction in the Central Bank of Iraq for the period from (1/1/2015) until (12/31 /) 2015) up to (44303800) dollars (forty-four billion three hundred and three million eight hundred thousand dollars) according to the statements of the Financial Operations and Debt Management Department, the Foreign Currency Sale and Purchase Window Section, the Statistics and Research Department, the Macroeconomic Department and an index of a group of violations.
He added that “among these violations is the failure of some banks and financial transfer companies to provide the central bank with full information about their purchases of dollars, which indicates the absence of coordination between the relevant authorities in the central bank regarding controlling dollar sales and the way to dispose of it.”
He continued, “The dollar purchases from the Ministry of Finance during the same period mentioned above amounted to (32450) billion dollars (thirty-two billion four hundred and fifty million dollars), that is, a difference of (11853) billion dollars (eleven billion eight hundred and fifty-three million dollars) for the quantities sold from The US dollar led to the use of the bank’s foreign currency reserves to cover dollar sales. ”
Al-Muhammadawi stressed the need to clarify the causes of these violations and to reveal the necessary measures taken by the Central Bank.
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