Specialists: Inventory sell the currency on the one hand indicates the presence of myopia in the management of fiscal policy
Specialists: Inventory sell the currency on the one hand indicates the presence of myopia in the management of fiscal policy
04/29/2013 (23:01 pm)
BAGHDAD / tributary cactus
See specialists in financial affairs that the sale of hard currency from the Rasheed Bank only has scientific basis and indicate nearsightedness, noting that it does not contribute to the reduction of currency smuggling but lead to higher exchange rate
The economist said contrary goldsmith that inventory sell the currency in one bank is not the action proper through which keeps the currency at all, The subject of control of the smuggling of funds not
be an inventory of dollar selling third party and one returned those procedures بالبدائية which does not has the scientific relevance and show nearsighted, referring to that an inventory of the currency and sold through the Rasheed Bank lead to higher exchange rate more.
said the goldsmith, “there are actions carried out by the whole world through sections for money laundering in both banks of the duty to follow movements of funds to its customers and also from the dealers. stressing,” that control on the currency would be difficult to over in the event of relying on sales to a single bank, especially since you can not control it in several points of how a bank to bear the huge numbers.
predicted jeweler, “he will entail the burden of severe and problematic great on this decision Kashkagliat inappropriate in terms of behaviors.
However, the goldsmith, “that fiscal policy of the Ministry of Finance were not balanced enough with cash in the sense that the value of the Iraqi dinar can not be strong enough to enhance the value of exchange at both internal and external to become the Iraqi dinar required currency global.
between, “there is a global system connects All banks world electronically helps in reducing laundering, smuggling of funds away from being applied and the Ministry of Finance as well as the “absence of updates and action controls that operate international banks.
explained jeweler, “There are plans must be put to the budgets and have to be there to know whether these budgets matching what you doing and the Ministry of Planning, or are working to the trends do not fit nor consistent with those of five-year plans, all that will organize the banking business and limit manipulation without resorting to decisions that might harm the country’s economy and raise the rate again.
to that reported an economist Ismail Radi that further opening outlets for the sale of foreign currency by banks will contribute to lower exchange rate of the U.S. dollar against the Iraqi dinar, because it will meet the need of the market than the dollar.
Radi said in a press statement, said that the reason for increasing exchange rate of the U.S. dollar against the Iraqi dinar during the current period in the domestic market, due to the procedures for the Central Bank of aggravating the sale of hard currency and to the lack of the dollar in the market. called Radi, “to encourage private banks to open more than one port for the sale of hard currency with the control of the conversion of external financial. while praised member of the Finance Committee MP Najiba Najib, the decision of the Ministry of Finance to limit selling the dollar in the Rasheed Bank only with strict conditions usually a step towards the reduction of smuggling of hard currency and creating a balance between the Iraqi dinar and the U.S. dollar. said Najib told the independent press (Iba), “said the move stems from the fear and the Ministry of Finance of the deterioration of the Iraqi currency and rising mafias smuggling of hard currency to neighboring countries,
stressing that the continued high exchange rate of the dollar against the dinar payment of the Ministry of Finance, in coordination with the Central Bank by making the Rasheed Bank Bank Parent to sell the dollar and under specific conditions
. pointed to “compel the citizen who wants to buy the dollar by highlighting the passport to make sure the actual need to buy dollars To reduce the manipulation of the dollar buying and selling on the black market at high prices. “She continued,” The Finance Committee will add those involved in the central bank and specifically section auction and sell the currency, noting “there are some coordinators and exploited for the development of the country tensioned manipulating sell the currency and smuggled out of the Central Bank of
The MP for Iraqi coalition Haider Mulla said in February last year that “Iraq has lost during the three months in the central bank auction was $ [509] billion dinars.” Al Mulla said in a news conference that “the central bank lost during the period from October 17 last until 31 January last year 509 billion dinars in the central bank auction, since the receipt of the President Office of Financial Supervision Abdul Basit Turki Bank presidency by proxy. has decided to Ministry of Finance inventory sell dollars to citizens through the headquarters of the Rasheed Bank and Branch Shorja exclusively. said a ministry statement said “Minister Ali Shukri instructed the Rasheed Bank to sell the dollar for citizens through the headquarters of the bank and branch Shorja exclusively, after submitting a ticket and passport to reduce fraud and manipulation when buying. “The Ministry of Finance decided earlier sell the dollar in a number of banks to control the exchange rate of the dollar, which has seen a significant rise during the the past few days since the sale of the dollar did not put an end to control the rise.
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