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Sunday, February 5, 2012 08:16
Central Bank: the black market to dominate the Iraqi economy
BAGHDAD / Baghdadiya News / .. The Central Bank of Iraq to the black market is the dominant economic transactions taking place in the country, in reference to find the application of the bank's decision to disclose
For trading in hard currency.
Deputy Central Bank Governor Dr Mazhar Mohammad Saleh in a special statement / Baghdadiya News / he "has become clear that the black market is dominant on the Iraqi economy by virtue of economic transactions large witnessed by the market," noting that "when we asked the banks to bring instruments to find out who buys dollar has not come to us from sales of $ 300 million only three million dollars. "
However, Saleh said that "some dealings on the black market is contrary to the laws, but traders insist on hiding from formal institutions because of low culture, economic and tax evasion," adding that "it is regrettable to note that everyone prefers to work in the dark and away from light, and in Iraq there are dealers selling and buying millions of dollars but avoid opening a bank account of the definition of themselves. "
The Deputy Governor of the Central Bank that "a lot of traders entering the windows of the central bank through banks the names of others or using aliases or through a fictitious company, although some of them practiced business operations are correct, but there is a fear of openness with the official institutions, in addition to those who violate laws and engaged in illegal activities. "
The central bank took the decision to compel banks to disclose their customers who buy foreign currency, after what was known of the smuggling of foreign currency extensive to Syria and Iran after the economic sanctions the World, which increased demand for the dollar in these countries. / Finished / 26 / a. P
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Central Bank: the black market to dominate the Iraqi economy
BAGHDAD / Baghdadiya News / .. The Central Bank of Iraq to the black market is the dominant economic transactions taking place in the country, in reference to find the application of the bank's decision to disclose
For trading in hard currency.
Deputy Central Bank Governor Dr Mazhar Mohammad Saleh in a special statement / Baghdadiya News / he "has become clear that the black market is dominant on the Iraqi economy by virtue of economic transactions large witnessed by the market," noting that "when we asked the banks to bring instruments to find out who buys dollar has not come to us from sales of $ 300 million only three million dollars. "
However, Saleh said that "some dealings on the black market is contrary to the laws, but traders insist on hiding from formal institutions because of low culture, economic and tax evasion," adding that "it is regrettable to note that everyone prefers to work in the dark and away from light, and in Iraq there are dealers selling and buying millions of dollars but avoid opening a bank account of the definition of themselves. "
The Deputy Governor of the Central Bank that "a lot of traders entering the windows of the central bank through banks the names of others or using aliases or through a fictitious company, although some of them practiced business operations are correct, but there is a fear of openness with the official institutions, in addition to those who violate laws and engaged in illegal activities. "
The central bank took the decision to compel banks to disclose their customers who buy foreign currency, after what was known of the smuggling of foreign currency extensive to Syria and Iran after the economic sanctions the World, which increased demand for the dollar in these countries. / Finished / 26 / a. P
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