MP Hussein Al-Uqabi calls for an end to the “domination” of banks over the dollar exchange rate, describing it as a “farce.”
MP Hussein Al-Uqabi calls for an end to the “domination” of banks over the dollar exchange rate, describing it as a “farce.”
2020-12-17
Representative of the National Approach bloc, Hussein Al-Oqabi, called, Thursday, to end the “dominance” of some banks over the exchange rate of the dollar against the dinar, describing it as a “farce.”
Al-Aqabi said in a press interview, “What was leaked from the exchange rate of the dollar against the dinar in the draft budget that was not approved inside the cabinet and did not reach the House of Representatives, which increased our disappointment as it reinforces the rumors that are in the interest of corruption whales,” stressing that ” The importance of ending this farce and putting an end to those banks that survived on the citizen’s livelihood.
He continued, “During the past few days we have witnessed a tremendous rise in the price of the dollar against the local currency, which led to the depletion of the funds of small and middle merchants, in addition to the confusion of the Iraqi market and a rise in prices, which affects the poor class,” noting that “what we are surprised about is the absence of any measure.” Or government intervention to control this path. ”
Al-Oqabi added, “This rise has been added by a number of intermediary banks directly linked to the central bank and working to achieve their profits from the currency auction.”
Pointing out that “these banks are an extra link in the field of banking and do not need them because they achieve their profits at the expense of depleting the money of active merchants in the market and the sustenance of the poor citizen. They also do not possess any economic, investment, development or commercial activities in the country, but rather they live on the state’s capabilities.” Iraq through a currency auction. ”
He pointed out that “the leakage of the cabinet copy of the dollar-to-dinar exchange rate at the time raises many question marks and makes the government demand to clarify its exit before sending it to Parliament.”
He pointed out that “those banks invested a number of ideas and rumors that were put forward, which led to the rise in the exchange rate for the dollar,” explaining that “what increased our disappointment is the strengthening of rumors that are in the interest of corruption whales in banks and banks that live on the future and destiny of the citizen through Leaking a draft budget that is not approved by the Council of Ministers or reaches the House of Representatives in which the exchange rate for the dollar is 1450 dinars.
He stressed that “this exchange rate will prove the heavy losses of the Iraqi state and serve the interest of intermediary banks that subsist on the capabilities of the people and the currency auction, which we consider far removed from national development and the interests of the state, and this is unfortunate and we must put an end to this farce and end the hegemony of some banks through Influential figures in the Iraqi state reinforce rumors and raise the exchange rate in order to hoard billions of dinars with profits far from the interest of Iraq and its people. ”
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