APRIL 6, 2015
Baghdad «Quds Al-Arabi»: Iraqi Vice detect money laundering and smuggling of large-place money of Iraq, and that the World Bank has warned that the currency drain Iraq would end its economy. He announced the parliamentary finance committee member Masood Haider that Iraq's imports from the sale of oil since 2006 to 2014 amounted to about $ 550 billion and 60% of that amount, or about $ 360 billion were sold in the currency auction, organized by the Central Bank of Iraq was transferred out of the country by civil companies and banking offices. The MP pointed to the case of a person who is not known to buy hard currency from the auction and the transfer of $ 550 million dollars out of the country within one year.
The MP Haider in a meeting in one of the satellite channels that the signals received from the World Bank that Iraq was dangerously exposed to the depletion of the currency will to the collapse of the economy, warning that what is being considered as terrorism against the state by wasting hard currency, revealing that the House of Representatives formed a committee to investigate the subject of the threat to the state's economy.
He made clear that the currency auction at the CBI process is a cover for currency smuggling and laundering funds, where the civil banks to buy currency and transfer abroad under the pretext of buying goods and the goods do not reach them to Iraq only a little, and any investment returns does not appear on the fact the service of the Iraqi versus the amounts sent to the outside.
In turn, the parliamentary Finance Committee announced the formation of a pentagonal committee to follow up operations money laundering and smuggling dollar out of the country, while confirmed that the stop manipulation would raise the value of the Iraqi dinar against the dollar.
The member of the parliamentary finance committee pros Hamadoun, that «Iraqi currency suffer from low against the dollar, which has led to the need to form a committee to follow up money laundering and smuggling of foreign currency operations committee was formed to follow up on this matter and verified », indicating that« the committee that will include members of the Economic Committee, Ministry of Finance, in addition to the General Administration of Customs and Taxes ».
She added that «the Commission will follow up the work of the Central Bank and the amounts of money sold, in addition to the follow-up work of the government and private banks that sell large amounts of dollar », noting that« stop currency manipulation will contribute significantly to the decline in the dollar rate against the dinar ».
A report issued by the International Center for Development Studies in London, revealed that " Development Fund for Iraq, which was established in 2003 to deposit the sales of Iraqi petroleum products based on resolution 1483 and reached its assets to $ 165 billion in 2009, but he also said, "but that these revenues were prone to corruption since disappeared $ 17 billion of them in 2003, while disappeared 40 another billion dollars in 2010. "
The report went on in 2013 Iraq Development Fund balances amounted to $ 7 billion, while the Iraqi government has failed to justify the disappearance of $ 11 billion of those funds, "noting that" mismanagement and cases of financial and administrative corruption has made this large balances shrink to reach in 2012 to $ 18 billion only, and to be Iraq without balances ».
Experts point in economic affairs that the poor Iraqi money management over the past years has led to the loss of a lot of money without achieving economic benefit for the country on the ground.
and « loss of Iraqi funds due to many reasons, the most important of corruption and mismanagement, financial planning, and the development of people, non-specialists in positions of sovereignty and economic mission since 2003 ».
Note that the money laundering and smuggling of foreign currencies phenomena that emerged strongly in Iraq after 2003 as a result of the emergence of mafias financial and economic due corruption, weak rule of law and the chaos and low administrative efficiency of the devices, in addition to the efforts of some neighboring countries to acquire some funds Iraq through the ways and means referred to by international organizations.
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