Statistic: half of the money transferred from Iraq contraband

Statistic: half of the money transferred from Iraq contraband

Babylonian News / Baghdad

am 11:25 Saturday, 25/8/2012

Revealed a senior Iraqi official said half the funds transferred from Iraq to abroad since 2004 funds contraband, stressing that these funds have not been matched goods or services or meet the debt owed after business dealings and other but can be incorporated within the framework of smuggling for the benefit of views and described the Mafia linked joints many within the Iraqi state and abroad. And share legislative and executive branches charges of smuggling funds from within the formal framework or what is known بحوالات Central Bank of Iraq for the benefit of customers of banks eligibility and financial companies. Was Secretary General of the Council of Ministers on the Keywords admitted that five percent of foreign remittances only considered legal, stressing that the amounts smuggled through past years is estimated at $ 180 billion and considering that when the government is trying to intensify its control over the movement of funds, this is not an interference in the work of the Central Bank, but comes in order to maintain public money. said request of the Central tighten controls on the movement of funds and activating the Office of the Inspector General appointed by the President Ministers only that the bank refused to directly office work, explaining that Central Bank governor vowed to take some measures to reduce the smuggling of currency and control the work of banks, but the government has not seen any results of the procedures and reached things that converts from Iraq $ 180 billion without a document or document conversion or output, especially given that the amount represents half the country’s revenue during the past years. According to the Central Bank was able auction currency which is supervised by since 2004 from the sale of about $ 200 billion to banks eligibility and transfer companies Mali, rates ranged daily sales between $ 125 million and 200 million over five sessions per week . The price of the dollar against the dinar, before the start of mechanisms Auction Alvin and 400 dinars to the dollar while the pair is currently alpha and 120 dinars to the dollar also managed the central bank to reduce inflation from 59 percent to less than seven percent in the years past nine. Official confirmed banker declined to be named for security reasons that remittances abroad and via the central bank auction mostly not true because it relies on false documents while there are no control mechanisms on the movement of remittances. He added, as in most countries are supposed to provide banks and client companies transfer proves why conversion either import goods or introduce mechanisms for the implementation of projects or meet previous debts resulted from providing services or business dealings and continued: not talking here about financial surpluses give it investors and businessmen to start projects or transfer their business to outside the borders, but also for draining the country’s wealth represented in hard currency that comes from the sale of oil and exploited locally, but will flee. Asked about the responsibility of the Central Bank said: work of the bank is art only has nothing to do oversight on the movement of money but in terms of follow-up work banks and is unable to pursue the possibility of buying a particular bank and $ 100 million to convert them to the outside or the possibility of introduction of goods in exchange for those funds. He said that such mechanisms are the responsibility of many parties, including the central bank, customs, trade, finance and taxes, chambers of commerce and others. He revealed that the process of monitoring or follow a simple comparison between the size of currency transferred, estimated at one billion dollars a week and the volume of goods in return not exceeding often 10 percent of the amount, which means that the remaining amount enters within the framework of smuggling. Their reasons for not detecting the smuggling operations by the States which tend to fund confirmed that these transfers go first to certain accounts within banks abroad and there are distributed to client accounts and then turned more than once to put a formal them and mislead regulators and stressed that banks that deal smuggled funds are not considered it smuggling but dealing language profits that up to about 33 thousand dollars for each million transformation before deducting quotas for banking firms and currency traders and brokers.
Source: albabelyia