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Claims to tighten controls on foreign exchange
2/24/15
BAGHDAD / Obelisk: Student Iraq Economic Media Center, the Central Bank of Iraq, tighten controls on foreign exchange operations in order to prevent money laundering and the monopoly of foreign remittances and speculators control the process.
The lion Muhammad Ali, chairman of the Economic Media Centre, in a press statement seen by the "Obelisk", on Tuesday, said that "dealers are used for more than ten years on the bank to adopt a reference to convert the currency and buy the dollar as a government entity sober can be trusted and their operations."
He pointed out that "despite some problems, but that the bank has succeeded over the years to contain the dollar market and refer the task of the banks as they are true, they need to tightly controlled its operations, especially the private banks that have not practiced banking properly."
Explaining that "oversight will ensure justice and conversion mechanisms to prevent money laundering and terrorist financing and knowledge of the currency in which it was carried out by the central bank in the country paths."
He pointed out that Mohammed "banks in Iraq need to be a transition period to evaluate their work," and expressed "his belief that the market will not rise because the speculators in the main banks were responsible for the high prices of the dollar in the past period and that this new mechanism Stnasabhm."
The President of the Economic Media Center that "the central bank's assessment of the demands of the banks deal with this experience and have the irrevocable line in the event of failure."
He was on the Keywords Governor of the Central Bank of Iraq may face yesterday discontinuation of the auction currency to ease the pressure on the central bank.
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