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Fears that smuggling money abroad
On: Tue 1/10/2012 9:20
□ Baghdad / follow-up term economic
Economists confirmed the existence of cases of smuggling of money as a result of lack of control over the economy in full in addition to the misconception of some politicians on the subject of a market economy, as between the Central Bank of the possibility of the existence of simple operations of this phenomenon, pointing to impose measures working to reduce them.
The economist said Majid picture, according to (Rn) that this smuggling resulted from the lack of control over the economy in general on the grounds that the concept of a market economy for politicians is wrong, they think that this means full freedom for the disposal of funds and economic potential. "
He said the picture that the smuggling of funds abroad guide the weak economy and lack of control, indicating that some of the money smuggled in a formal way and informal as well as lack of control over the transfer of funds out-of-government banks. "
He said the picture that the existence of financial and administrative corruption is the most prominent reasons that lead to smuggling money, "noting "There are those who defended the smuggling of money and money laundering."
The financial corruption and theft of public money and the growth of wealth is a natural one of the reasons the smuggling of money that has grown and spread in recent years.
in turn, did not deny the central bank and there are cases of smuggling money out of the country, but stressed that monitor and follow up on all the sources and destination of funds. The deputy governor of the Central Bank of the appearance of Mohammed, told the Kurdish (Rn), that the "smuggling capital is classified as a money laundering if Mtherbh of taxes, but lighter than the process of money laundering the latter being the result of crimes and the drug trade. "
Saleh added that "Iraq by virtue of conventions of international, especially the International Monetary Fund signed in 1945, Article VIII, which stresses that all countries signatory to the Convention to liberalize the current account of balance of payments, this means allowing the transfer of funds for the purpose of the goods and services of any commercial purposes" .
Saleh continued: it wants to buy funds at the auction provide documentation that they use that money to trade. If we confirm that the person was an Iraqi and has a bank account and claims he was working on the import of goods after receiving the support of the tax and commercial documents which that money is not the result of money laundering. "
He pointed out that "the demand for foreign currency increased in the last stage due to the withdrawal of foreign Iraq and political issues, but the great demand is to shift some of the Iraqi traders adults to the dealer and broker of regional trade by virtue of conditions in the region with them."
Observers believe that the phenomenon of laundering money in Iraq have grown in the absence of an integrated banking sector governing financial transactions between the inside and outside Iraq on the one hand, and between markets within the country on the other. The Economic Committee in the House of Representatives: to control the process of smuggling, money laundering, require extra effort in Iraq, if compared in stable countries and scientifically advanced.
A member of the Committee Mahma Khalil (Rn), "The control of the phenomenon of money laundering and smuggling require state electronic and culture and procedures, laws, political stability and security, even if we compare Iraq to developed countries and stable world it is chugging along fine. "
Khelil said that "Iraq has changed from a state with a centralized economy to a state with a free economy and this requires processors from all aspects, most notably address the financial and administrative corruption, which provides a way for the widening the phenomenon of smuggling and money laundering. " The developing and underdeveloped countries a suitable environment for money laundering operations to these countries is characterized by weakness in the laws and the fragility of the legal control and a clear decline in the level of statistical and mathematical operations.
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