April 6, 2015
Iraqi observer / special
In order to put an end to the high dollar prices in the Iraqi market and break the monopoly of some of the banks that are on the fingers of the hand allocated to sell the dollar for the sale of some parliamentary committees proposed to cancel the central bank auction. Where the parliamentary finance committee proposed the abolition of foreign currency auction at the central bank, confirmed that it will lead to lower prices in front of the Iraqi dinar. He said committee member Masood Haider said that "the Finance Committee submitted a proposal to cancel the auction at the Central Bank, in order to reduce the foreign currency rate against the Iraqi dinar." He added Haider, that "the proposal stressed the need to replace the auction process hard currency distribution the civil and government banks in a fair way by the competition, because the auction may impact on the Iraqi economy and led to the herald, "noting that" it will lead to lower foreign currency exchange rate of either the Iraqi dinar ".ouchehdt the past few weeks, a remarkable increase the price of foreign currencies against the dinar Iraq, despite the central bank to sell those currencies is reduced. For his part, the central bank said, to stop the work currency auction system begins remittance system. He informed the Central Bank director Fadel Hussein was "based on a decision the central bank governor was stopped work ERA permanently currency, we started remittance system because of smuggling and money laundering." The Governor of the Central Bank of Iraq on the Keywords announced that he "is not true that the central bank remains preoccupied with selling currency like ATM daily. "In the same vein, a report issued by the Central Bank of Iraq, saying," Based on the provisions of the Iraqi Central Bank Act for the purpose of achieving the objectives of the Bank and the stability of the Iraqi dinar exchange rate against foreign currency through the optimal use of foreign exchange resources to meet the needs of all and not Central occupancy of functions which are at the heart of the work of the banking system and the relevant departments, with a commitment to the requirements of the law against money laundering and terrorist financing Central decided to new instructions issued in this regard, ".oaalq Economists and Financial on the decision to stop the bank's daily currency auction that means cancel the sale by remittances, and cash sales will continue, explaining that he came to curb money laundering and smuggling of currency, warning against complacency and inaction in the follow-up and hand the money purchased by banks from the bank, stressing the need to follow those banks legal proceedings in converting Alambalg.aly the parliamentary Finance Committee promised, decision Cabinet wait on applying Article 17 of the budget as a "constitutional and legal violation," indicating that the Constitution provides that the law, which is prescribed by the House of Representatives and published in the Official Gazette facts longer valid Mufaul.oukal committee member Masood Haider said that "the parliamentary finance committee added to the Act current year budget 17 articles which are part of our constitutional rights, "noting that" this material is in the interest of ordinary citizens and the owners of the contracts and move daily. "He added that" the materials that were also added states in the interest of the popular crowd and displaced persons and providing emergency services to them, "explaining that" Among the materials that the government is challenged by Article 48 of the Budget Law, which provides for pension officials to stop the transaction until the disclosure of what Bzmmanm.
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