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Jubouri: Buyers of "Cash in a" currency and central fleeing outside suspicions

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Rocky


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Jubouri: Buyers of "Cash in a" currency and central fleeing outside suspicions



11/18/15



BAGHDAD / Hazem martyr

The parliamentary finance committee said the Iraqi Central Bank reserves fell by almost $ 10 billion, and as I pointed observations about fraud operations in the auction sale of foreign currency, confirmed that the decline in the reserve is natural does not mean necessarily be caused by corruption in the Central.
The member of the Finance Committee MP Haitham al-Jubouri said in an interview to the "long", that "the drop in oil prices prompted the central bank to provide the market need of the dollar through foreign currency reserves out of the equation that the bridge that need to be met through imports State plus the offset of the Central from the reserve, which is owned by. "

He Jubouri, the "value collected by the state from oil imports in the past, up $ 370 million, turned to the central bank in exchange for local currency meant that the reserve was increased continuously measured by sales that ranged from $ 175 million to $ 250 million." noting that "the value of imports of the country after the decline in oil of approximately $ 120 million is what makes the central obliged to act as attributes of the cash reserve to offset the market need of the dollar."
Jubouri and ruled that "the decline in central bank reserves caused by financial or administrative corruption, accusing some traders the smuggling of currency they buy from the central auction.
"And that" the central Dollar selling in two ways, first by letter of credit, a sale contain guarantees, and the second way is the way the "cache", stressing that "the way the second sale punctuated by fraud through currency smuggling or buy real estate outside the country because they are beyond the controls and control.
"and currency smuggling al-Jubouri said that" some traders baptized to sell the dollar in countries suffering from the economic embargo such as Iran and Syria, "explaining that" those countries buy foreign currency by a large margin for the price because it lacks to sell and to Asthsalha because of international sanctions, "he said, adding that" the central bank decided to reduce the sale of the "Cache" of $ 15 million to $ 5 million to reduce the phenomenon of smuggling, "while al-Jubouri, stressed the need for the canceled sales that way to eliminate the phenomenon of smuggling once and for all.
did not Jubouri exclude that permeates sell the dollar documentary credits some fraud, but played down the chances, while stressed that the rate traders are buying from the central bank than the actual need for the purchase of goods and commodities.
fell the Central Bank of $ 67 billion to $ 58 billion reserve, When he arrived to 83 billion dollars by the drop in oil prices. in
and crossed the Iraqi central bank sales in the auction weekly sale of foreign currency two hundred million dollars several times, while it was facing parliamentary calls to be identified in accordance with Article fifty of the budget law to sell $ 75 million or less.
The Abadi Search last Sunday with Governor of the Central Bank on the Keywords, according to a government statement, the measures taken to stop the corruption and the mafias benefiting from central bank currency auction, and accounting of involving, as a government source said that al-Abadi instructed during the meeting to open an urgent investigation into the disappearance of $ 10 billion Iraqi Central Bank reserves.
The Federal Supreme Court, announced in the (July 6, 2015), several articles unconstitutional in budget 2015 law, including Article 50, the judge compel the Central Bank identifies sales of hard dollar currency in its daily auction ceiling does not exceed $ 75 million Daily.

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Rocky


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