JUNE 15, 2015-
MPs accuse the central bank of dragging its feet over the erosion of the dinar and suggest urgent session
Parliamentary Energy warns over (time) from the collapse of banks and calls to deter speculative dollar
BAGHDAD - Mohammed Al-Salhi
To the Committee on Energy and Oil parliamentary warned of the collapse of the banks in the absence of any government plan to support the banking sector, stressing that this matter will lead to economic catastrophe in conjunction with the low price of the Iraqi dinar against the dollar, while the deputies of the Central Bank of Iraq administration was accused of being powerless in front of the collapse of the dinar against the dollar , demanding that the House of Representatives to convene an urgent meeting to discuss the matter, especially with the holy month of Ramadan near. He said the Committee on Energy and Oil parliamentary member Mazen Mezni (time) yesterday that the (Commission warns of collapse of a lot of banks that reached the brink of bankruptcy without announce it), stressing that (the lack of any government plan to support those banks would occur disaster in the national economy). He said Mezni that (the country is witnessing an economic war in conjunction with exposure to terrorism regulation is Daash intentionally destroying infrastructure such as dams, electricity and other resources as well as to sabotage the other sources of financing in conjunction with causing other countries to cut oil prices even fell sharply, adversely affecting the economic life), adding that the (dollar prices are speculative in a number of banks and the government to stop such speculation in all shapes because they cause heavy losses for the simple citizen who can not provide for daily strength against the waste of millions of dollars a day that way). He said that (the government broad powers over the Council of Ministers of the Economic Commission to enable them to diversify their sources of funding and rely on alternatives to oil as do many other countries because oil based on global prices can not be controlled locally), expected (continued relapse of the dinar in the case of continuing to pursue wrong policies with no make up the deficit in the public budget and pay off the debt). For his part, MP for the National Coalition Kadhim al-Shammari Central Bank of Iraq and the Office of Financial Supervision called (note the reasons behind the collapse of the local currency and the abnormal rise in the dollar price in front of her). Al-Shammari said in a Tuesday statement that (there is a rise abnormally in the dollar's exchange rate against the local currency which exceeded banknote exchange rate of dollars percent category Al137 thousand dinars), adding that (there are fears for the implications of Athmd consequences on the market situation, especially as we are on the doors of the month of Ramadan, with the presence of more than three million displaced Iraqis, in addition to the security and economic situation deteriorating originally).He stressed (the need to develop real plans and the creation of clear mechanisms at work between the central bank and community banks to take control of this matter before arriving at the borders can not be undone), adding (it raises big question marks about the role of the central bank and the plans announced by the former for the sake of control on the market) stability. He called in his statement to Al Shammari (accelerate coordination with the competent private banks sold the currency for the purpose of strategic professional and clear position to control the situation). In turn, he said the economic and investment commission parliamentary member Abdel-Salam al-Maliki said the work of the central bank's management is dragging its feet, about the height of Atar.oukal Maliki's exchange rate in a statement that (the bank's management reluctant to control the continuous rise of the dollar exchange rate, the central bank for the suffering and turn him in front of dominance mafias currency in the domestic market not to mention the lack of real policy has to deal with private banks to sell the currency, which is the other no longer with the ability to cope with daily market changes), adding that the (central bank management did not see them any real action to confront the winning inflation and height is natural and on a daily basis to the dollar exchange rate, and this lack of a clear vision of the Bank to face difficult circumstances) guide. He called on Maliki to (take swift action in parliament and claim to call the Central Bank's management for the purpose of standing on what these failures), pointing out that the (failed policies have made the dollar rise on a daily basis until he reached the ceilings can not be tolerated) .uazat committee economy parliamentary Najiba member Najib Dollar rises to the imposition of central bank rate of 8 percent in taxes and Customs on the dollar applications with low oil imports. She explained Najib said in a statement that (high dollar returns as a result of the bank to add 8 percent of requests from traders and companies to buy Atarmen through interpolation 5 percent tax and 3 percent Customs), adding that the (lower oil revenues due to lower oil prices from $ 111 per barrel to less $ 60 led to a lack of Iraq's revenues of hard currency). In turn, he called the parliamentary Finance Committee Haitham al-Jubouri, a member of the House of Representatives to convene an urgent meeting to discuss the reasons for the low rate of the dinar against the dollar. He stressed Jubouri said in a statement on (the need for the House of Representatives at the invitation of Finance and Economic Committee of Parliament to convene an urgent meeting brings together central bank management and the Directorate of Organized Crime and head of the private banks association to discuss the causes and consequences of the large decline in the Iraqi dinar exchange rate against the dollar), adding that (such a meeting would put appropriate solutions to punish economic mafias and stop money laundering and the smuggling of currency).
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