Mafias in the banks control the exchange rate of the Iraqi dinar against the dollar and the Central bank turn a blind eye

And Vice experts: mafias in the banks control the exchange rate of the Iraqi dinar against the dollar and the Central bank turn a blind eye by

21-04-2013 12:36 PM

Iraqi dinar exchange rateBaghdad (news) / report / Hussein Faleh / .. After he saw the Iraqi dinar exchange rate against the U.S. dollar declined significantly during the last period, raised many questions about the reasons for this decline, despite the issuance of new measures by the Central Bank on the sale of hard currency, which some considered as supportive of the Iraqi dinar. has revealed a number of deputies and economic experts of the existence of mafias in some banks authorized to sell hard currency through the monopoly of the sale process certain people and not others, what made ​​the demand increasingly to buy the dollar in the market paid few display. and confirmed during the talk (of the Agency news) that hold the central bank to sell hard currency for citizens Using the passport decision is Saeb and helps to overcome citizens and encourage them to error. member of the Committee on the economy and investment MP / National Alliance / Abdulabas Xiaa, criticized the central bank’s policy on the sale of hard currency, being conducted at random is well thought out, which contributed to instability in the exchange rate Iraqi dinar against the dollar. said Xiaa (of the Agency news): The new measures issued by the bank on the sale of foreign currency allowed the average citizen who owns a passport he can buy (5000) dollars a month, from banks authorized to sell at a subsidized price from the central bank and in which the teams about (200) thousand dinars net profit. continued: What make citizens provide to banks from the early hours in order to obtain this amount through the passport, if the family consists of (6) Nfrat they get a net profit of an estimated one million dinars per month, Valaab not a citizen, but measures the central bank who learned the citizen to commit mistakes. continued: This is what makes dollar spent incorrectly, do not go to those who deserve from the merchants and owners of emergency travelers, calling for the central bank to amend its procedures for selling currency Alsabdh to support the exchange rate of the dinar against the dollar. either Prime Media Center Economic Dergham Mohammed Ali, refer reason for the high exchange rate to the existence of a black market to sell the dollar in cash through inefficient tools the central bank in the delivery of the dollar to the general public, according to the local market need real. said Mohammed Ali (of the Agency news): The central bank did not take control procedures real outlets in banks What Find agreements between some banks and people to sell the dollar through the purchase through passports of citizens in accordance with instructions Bank and sold to the market to get the differential profit. said: that the bank flopped in his instructions without access to the mechanics of objective to assess the needs of the local market of foreign currency and finding channels under the control of a real flow of currency into the market, or put mechanisms more flexible with the continuation of monitoring the flow of money remittances of Foreign Affairs. continued: These measures did not work on the new administration of the Central Bank, which Find a large gap between supply and demand for the dollar and led to higher prices because of the dominance of the gatekeepers on the sales outlets and dealing with them on the dollar market. For his part, economic expert, Salem al-Daini, the existence of mafias in the work of banks authorized by the Central Bank for the sale of hard currency, through the monopoly of the sale of certain groups and not others, which Stock up the exchange rate of the dollar against the dinar. said Daini (of the Agency news): The process taking place in an orderly and knowingly and science of the central bank, where the bank to sell currency in the auction’s public limited companies, mostly belonging to the banks, to you then sell them to people appointed, not with the need كالتجار and passengers for the purposes of treatment or tourism. said: There is confusion in the monetary policy of the central bank, and most of the procedures issued by the bank to not apply on the ground, and there are many operations conducted within the central bank is questionable. while a member of the Economic Committee MP / coalition in Iraq / Nora Bijari, explained , said that the current monetary policy pursued by the Central Bank of volatile and non-supportive of the exchange rate of the dinar against the hard currencies. said Bijari (of the Agency news): The Committee economy parliamentary been counting on the new administration of the Central Bank, but so far not been able to support the exchange rate of the dinar. She added: that the bank needs a special policy and good management familiar monetary policy and have the experience and expertise in the financial field to prove their worth during the coming period as it managed the previous administration that maintain the stability of the national currency and the monetary reserves of hard currency and gold. was the central bank has authorized private banks, in addition to Rafidain and Rasheed by some of its branches operating in Baghdad to sell the dollar for citizens wishing to travel on to submit a ticket and passport. However, these conditions did not apply and become every citizen can buy the dollar just because a passport in effect to then be re-Terms of Sale former because of a much of the corruption in the sales transactions. and the banks to sell the dollar for the citizens and by $ 5,000 compared to 1189 dinars to the dollar, thus enabling citizens to benefit from the price difference is due to rise in the domestic market that the price of the dollar which in 1227 dollars for dinars per share. / End / 8. l. m /