Looming parliamentary investigation with the Central Bank, vast difference in the exchange rate of the currency
Finance looming parliamentary investigation with the Central Bank of the vast difference in the exchange rate of the currency
3.27.2014 twelve thirty-nine
{Baghdad: Euphrates News} A member of the parliamentary Finance Committee Hassan al-Bayati, that the continuation of the vast difference in the currency exchange rate between the central bank and private banks or banking companies for more than a year is considered corrupt and makes bank officials under penalty of law, pointing out that there might be an investigation into the In the future, the central bank regarding this matter.
He said al-Bayati told the News} {Euphrates on Thursday that “the central bank is responsible for the stability of the Iraqi dinar, which from its responsibilities to maintain the value of the national currency against foreign currencies and inflation in the country, these duties and responsibilities of the central bank must therefore be on the central bank to take measures to maintain the value of the Iraqi dinar. ” and added that “there is a vast difference between the exchange rate of the currency, the central bank and private banks or shops and banking companies, as up the difference at the exchange rate to seven or six thousand dinars and this very big difference did not exist previously.” He said al-Bayati said “mistaken policy of the Central Bank that led to it, it should not be there is such a broad difference, banks are and banking companies earn a lot of money and imaginary processes of buying and selling,” he said, adding that “there may be an investigation of the central bank in the future regarding this matter . ” and explained that “It is possible that this great difference between the exchange rate for months or for years, but continue to nearly two years indicates that the intent in this case exists,” noting that “the continuation of the central bank this deal will make it the responsibility of the governor and others under penalty law, as this deal is corrupt. ” He Bayati said that “the House of Representatives responsible for the accounting central bank officials, and the Office of Financial Supervision and integrity, so For Audit Court not to remain indifferent to this dangerous phenomenon.” Iraq has been widespread for offices and banking companies , is dominated by uncertainty since turned some of these companies to the machine to money laundering because of the lack of legal control them, according to economists. noted that traders buy and sell the dollar criticized the way in which the Iraqi Central Bank to sell the dollar and according to the opinion of some specialists in economic affairs, the Bank CBI did not follow the policy and legal foundations of monetary, financial and economic right in the process of selling the dollar. ended 2
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