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Parliamentary Finance: rising dollar prices of the subject of «temporary»
4/28/2015
BAGHDAD
parliamentary Finance Committee explained that the rising dollar Annie subject of prices will end as soon as the improved economic situation and the rise in oil prices in world markets and rising Iraqi oil exports in return, noting that the central bank has taken a number of measures to reduce the phenomenon of money laundering.
The committee member said Masood Haider told the "morning": that the low rate of the dinar against the dollar has many, including the war on terrorism and the decline in oil prices, factors in addition to the economic situation, which is going through the country, predicting that the dollar price declines in the period coming as soon as oil prices rise in global markets and rising Iraqi oil exports.
He said the economic situation gradually improve with the start of the increase in the country's imports of oil as a result of rising exports gradually, noting that the Kurdistan region will be at the beginning of the month of May the export of 550 000 barrels of oil a day and a month later increase to 600 000 barrels, noting that all these factors will increase state revenues and will affect positively on the depreciation of the dollar.
As for the issue of money laundering in previous years, the MP said the central bank has taken a number of measures against money laundering, including the imposition of taxes and customs on companies and banks that buy foreign currency from him, whether in cash or bank.
The deputy expressed hope that is in the next few months, the liberation of all the country from the grip of Daash which will make Iraq need large financial aid for reconstruction, which will open the way for the introduction of large amounts of currency to Iraq and thus lower Atar.okan CBI prices announced (17 March 2015) the adoption of a new mechanism for the payment of taxes and control of "money laundering" through prepayment of taxes and customs for goods entering Iraq, returned to that will double the country's imports.
and decided to Bank in (28 March 2015) are met 8% of tax rates and customs special Bokiem imports by private banks.
In turn, said Finance Committee member Haider al-Kaabi said his committee has taken many measures on dollar sales at auction in order to reduce the dollar prices as well as the subject of laundering Alamwal.oukal in a statement the "morning": that there is $ 200 billion from 2005 to 2014 out of Iraq by companies or banks are buying the dollar and convert it without submit lists of buying a topic related to money laundering.
He added that the Finance Committee formed with committees Integrity and the economy, legal, health, a committee to investigate the facts about who laundered the money and buy the dollar and smuggled out of Iraq, noting that the committee is supposed to give its results at the end of the current legislative term.
The current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (US dollar) in the daily auction ceiling does not exceed 75 million dinars, with the exercise of justice in the sale, and claim to participate in the auction banks to provide input goods documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of their purchase amount, and otherwise apply to them the penalties provided for in the central bank law or instructions issued from it, and use other tools to keep banking on the strength of the dinar against the dollar.
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4/28/2015
BAGHDAD
parliamentary Finance Committee explained that the rising dollar Annie subject of prices will end as soon as the improved economic situation and the rise in oil prices in world markets and rising Iraqi oil exports in return, noting that the central bank has taken a number of measures to reduce the phenomenon of money laundering.
The committee member said Masood Haider told the "morning": that the low rate of the dinar against the dollar has many, including the war on terrorism and the decline in oil prices, factors in addition to the economic situation, which is going through the country, predicting that the dollar price declines in the period coming as soon as oil prices rise in global markets and rising Iraqi oil exports.
He said the economic situation gradually improve with the start of the increase in the country's imports of oil as a result of rising exports gradually, noting that the Kurdistan region will be at the beginning of the month of May the export of 550 000 barrels of oil a day and a month later increase to 600 000 barrels, noting that all these factors will increase state revenues and will affect positively on the depreciation of the dollar.
As for the issue of money laundering in previous years, the MP said the central bank has taken a number of measures against money laundering, including the imposition of taxes and customs on companies and banks that buy foreign currency from him, whether in cash or bank.
The deputy expressed hope that is in the next few months, the liberation of all the country from the grip of Daash which will make Iraq need large financial aid for reconstruction, which will open the way for the introduction of large amounts of currency to Iraq and thus lower Atar.okan CBI prices announced (17 March 2015) the adoption of a new mechanism for the payment of taxes and control of "money laundering" through prepayment of taxes and customs for goods entering Iraq, returned to that will double the country's imports.
and decided to Bank in (28 March 2015) are met 8% of tax rates and customs special Bokiem imports by private banks.
In turn, said Finance Committee member Haider al-Kaabi said his committee has taken many measures on dollar sales at auction in order to reduce the dollar prices as well as the subject of laundering Alamwal.oukal in a statement the "morning": that there is $ 200 billion from 2005 to 2014 out of Iraq by companies or banks are buying the dollar and convert it without submit lists of buying a topic related to money laundering.
He added that the Finance Committee formed with committees Integrity and the economy, legal, health, a committee to investigate the facts about who laundered the money and buy the dollar and smuggled out of Iraq, noting that the committee is supposed to give its results at the end of the current legislative term.
The current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (US dollar) in the daily auction ceiling does not exceed 75 million dinars, with the exercise of justice in the sale, and claim to participate in the auction banks to provide input goods documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of their purchase amount, and otherwise apply to them the penalties provided for in the central bank law or instructions issued from it, and use other tools to keep banking on the strength of the dinar against the dollar.
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