Through “corruption and fraud” operations… the secrets of smuggling dollars and withdrawing them from Dubai via electronic cards
Through “corruption and fraud” operations… the secrets of smuggling dollars and withdrawing them from Dubai via electronic cards
2024-08-14
Alsumaria News – Economy
Political analyst Rafid Al-Atwani criticized, today, Wednesday, August 14, 2024, the banks in Iraq, especially the private ones, due to the indicators of corruption and the dollar smuggling operations abroad that revolve around them, while he confirmed that the Iraqi banks are “unsound” and trade in dollars and do not provide services to the Iraqi citizen.
Al-Atwani said in an interview with Sumaria News that the general reputation of the bank in Iraq, especially the private one, is “very bad” and accused of corruption. In fact, there are indications of the existence of real corruption, and the evidence for that is the sanctions imposed on more than 15 banks.
He reveals that the dollar issued by the Central Bank of Iraq is under the control of Jordanian and Qatari banks, as attested by many members of the House of Representatives. The evidence for this is that when the government of Mohammed Shia al-Sudani was formed, the two sides (the Federal and Iraqi Central Banks) agreed that the process of exporting or purchasing goods (most of which are money laundering) would be through the SWIFT platform that all countries work on, which is a solid and sound organization that monitors the movement of the dollar and prevents money laundering that harms global trade. However, after more than a year, it became clear that these banks do not follow these procedures and deliberately launder money in agreement with traders and also smuggle the currency through the direct dollar sales window.
He points out that 90% of the dollar that leaves the Central Bank of Iraq goes to the export process, but the amount of imports does not exceed 30% actually in the market, meaning that more than 60% of this money is smuggled or returned through money laundering.
These indicators, according to Al-Atwani, show that the Iraqi banks and the management of the Central Bank are “unsound” and have not benefited the Iraqi state. On the contrary, we have not controlled the exchange of the dollar against the Iraqi dinar, noting that more than one bank is affiliated with political figures or their representatives.
The political analyst explains that this scene indicates that the Iraqi banks are unsound and trade in dollars, and there are no banks that provide services to the Iraqi citizen such as advances and commercial loans. There is also favoritism in dealing with loans and favoritism towards influential political figures, and the biggest victim is the Iraqi people, the value of the Iraqi dinar, and also Iraq’s external reputation. He added that according to a statement by a member of the Finance Committee, the profit of Jordanian banks from this corruption in the process of recycling the dollar is more than a million dollars per day.
Meanwhile, an informed source told Alsumaria News that “one of the banks that is operating and is not punished is withdrawing dollars via electronic energies at the official price in Dubai, and transferring it to Iraq to be sold in the market at the parallel price.”
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