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Economist: diversion and money laundering disaster against the Iraqi economy

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Rocky


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Economist: diversion and money laundering disaster against the Iraqi economy




11/17/15

Baghdad and babysit - between economic expert Abdul Hassan al-Shammari, said the leak and money laundering because of the Iraqi Central Bank auction is a major disaster on the Iraqi economy.
Al-Shammari said in a statement to the news agency public opinion (and babysit), on Tuesday, that "the diversion and laundering money from the Central Bank of Iraq is a major disaster against the Iraqi economy and the documentation submitted to the Central Bank of Iraq by private banks and banking offices false and untrue," pointing that "the Central Bank aware of this subject, but insists on the authorities to provide these funds."

He said Shammari said "Dollar selling at very low prices as the market price differs from the real price where selling the Central Bank of Iraq to 1180 dinars and banks sell to 1221", adding that "this great figure, sold by banks is a high-profit exceed three to four billion dollars annually and therefore, the money should go instead to the state go to the pockets of private banks and money laundering. "

Shammari said that "Iraq needs to develop true and correct mechanism for conversion of hard currency abroad and must be by letter of credit to get rid of financial and administrative" g / h corruption




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