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Experts and lawmakers: mafia banks control the dinar exchange rate against the dollar and the Central Bank ignored them
21-04-2013 12:36 PM
Baghdad (News)/report/bahtik/... As the Iraqi dinar exchange rate against the US dollar decreased significantly during the past period, raised many questions about the reasons for this decline, although issuance of new measures by the Central Bank on selling hard currency which I consider by some as supportive of Iraqi dinars.
Where a number of lawmakers and economists about a mafia in some banks to sell hard currency through the monopoly of the sale of certain people, leaving a growing demand to buy dollars in the market for display.
They stressed during their talk (News Agency) that a Central Bank sale of foreign currency for citizens through the Passport is right and helps to overcome and encouragement of citizen on error.
Member of the Committee for economy and investment/MP/-abbasn sheyaa, criticized the policy of the Central Bank to sell hard currency, being conducted at random, thoughtless contributed to the instability of the dinar exchange rate against the dollar.
Said sheyaa (News Agency): that the new procedures issued by the Bank in respect of the sale of foreign currency allowed the ordinary citizen who owns a passport he could buy $ 5,000 per month, from the authorized banks sale powered by the Central Bank, in which teams of about 200 000 net profit.
He continued: what make citizens brought to banks from the early hours to get this amount through passport, if the family consists of 6 alienations they get net profit estimated 1 million dinars per month, the defect is not a citizen but the Central Bank actions learn to citizens to commit errors.
He continued: this made the dollar paid incorrectly and does not go to the rightful claims of merchants and owners of emergencies, calling on the Central Bank to modify its procedures for the sale of alsabdh to support currency the dinar against the dollar.
The head of the economic information center Mohammed dargham, blaming high rates of Exchange to a black market to sell the dollar in cash through inefficient Central Bank delivering tools to the general public in accordance with the needs of the local market.
He Mehmet Ali (News Agency): the Central Bank has not taken real control over what banks outlets created agreements between some banks and people to sell dollars through the purchase via bank instructed citizens passports and sold them to the market for a profit.
He added: the World Bank in its teachings flopped without access to thematic mechanisms to assess the needs of the local market of foreign currency and a real control channels for the flow of currency to the market, develop mechanisms more flexible with the constant surveillance of the foreign remittance flow of funds.
He continued: these procedures do not work on the new management of the Central Bank, which has created a large gap between supply and demand of the dollar led to higher prices because of the dominance of the gatekeepers to the outlets and dealing with them on the market.
Economist, said Salem Al-daini, a mafia in banks authorized by the Central Bank to sell hard currency through the monopoly of the sale of certain groups which contributed to the increase in the dollar exchange rate for the dinar.
He said Al-daini (News Agency): the process is orderly and knowledgeable and aware of the Central Bank, where the Bank is selling currencies in the Basra public limited companies, most of the banks, then sell them to persons who are not in need as merchants and passengers for treatment purposes or tourism.
He added: there are floundering in the monetary policy of the Central Bank, and most of the Bank's actions are not applicable on the ground, there are many processes within the Central Bank is questionable.
While a member of the Economic Committee Deputy of Iraqi coalition/Nora/albegari, explained that the current monetary policy by the Central Bank of oscillatory and non-supportive of the dinar exchange rate against foreign currencies.
She said albegari (News Agency): parliamentary Committee of economy were counting on the new management of the Central Bank, but so far has not been able to support the dinar exchange rate.
She added that the World Bank needs to have special policy and good management familiar with monetary policy and has the experience and expertise in the financial field to prove their worth in the coming period as the previous Administration has been able to maintain the stability of the national currency and the monetary reserve of hard currency and gold.
The Central Bank has authorized private banks, Rafidain and Rasheed banks through some branches working in Baghdad to sell the dollar for citizens wishing to travel on the ticket and passport.
However, these requirements do not apply and become every citizen could buy a dollar just to carry a passport valid for the previous conditions of sale back then because there was a lot of corruption in the sale.
And banks selling dollars to citizens and $ 5000 vs 1189 dinars to the dollar, allowing citizens to benefit from the price difference due to the rise in the domestic market when the dollar reached us $ 1227./finished/8 l. Eng.
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21-04-2013 12:36 PM
Baghdad (News)/report/bahtik/... As the Iraqi dinar exchange rate against the US dollar decreased significantly during the past period, raised many questions about the reasons for this decline, although issuance of new measures by the Central Bank on selling hard currency which I consider by some as supportive of Iraqi dinars.
Where a number of lawmakers and economists about a mafia in some banks to sell hard currency through the monopoly of the sale of certain people, leaving a growing demand to buy dollars in the market for display.
They stressed during their talk (News Agency) that a Central Bank sale of foreign currency for citizens through the Passport is right and helps to overcome and encouragement of citizen on error.
Member of the Committee for economy and investment/MP/-abbasn sheyaa, criticized the policy of the Central Bank to sell hard currency, being conducted at random, thoughtless contributed to the instability of the dinar exchange rate against the dollar.
Said sheyaa (News Agency): that the new procedures issued by the Bank in respect of the sale of foreign currency allowed the ordinary citizen who owns a passport he could buy $ 5,000 per month, from the authorized banks sale powered by the Central Bank, in which teams of about 200 000 net profit.
He continued: what make citizens brought to banks from the early hours to get this amount through passport, if the family consists of 6 alienations they get net profit estimated 1 million dinars per month, the defect is not a citizen but the Central Bank actions learn to citizens to commit errors.
He continued: this made the dollar paid incorrectly and does not go to the rightful claims of merchants and owners of emergencies, calling on the Central Bank to modify its procedures for the sale of alsabdh to support currency the dinar against the dollar.
The head of the economic information center Mohammed dargham, blaming high rates of Exchange to a black market to sell the dollar in cash through inefficient Central Bank delivering tools to the general public in accordance with the needs of the local market.
He Mehmet Ali (News Agency): the Central Bank has not taken real control over what banks outlets created agreements between some banks and people to sell dollars through the purchase via bank instructed citizens passports and sold them to the market for a profit.
He added: the World Bank in its teachings flopped without access to thematic mechanisms to assess the needs of the local market of foreign currency and a real control channels for the flow of currency to the market, develop mechanisms more flexible with the constant surveillance of the foreign remittance flow of funds.
He continued: these procedures do not work on the new management of the Central Bank, which has created a large gap between supply and demand of the dollar led to higher prices because of the dominance of the gatekeepers to the outlets and dealing with them on the market.
Economist, said Salem Al-daini, a mafia in banks authorized by the Central Bank to sell hard currency through the monopoly of the sale of certain groups which contributed to the increase in the dollar exchange rate for the dinar.
He said Al-daini (News Agency): the process is orderly and knowledgeable and aware of the Central Bank, where the Bank is selling currencies in the Basra public limited companies, most of the banks, then sell them to persons who are not in need as merchants and passengers for treatment purposes or tourism.
He added: there are floundering in the monetary policy of the Central Bank, and most of the Bank's actions are not applicable on the ground, there are many processes within the Central Bank is questionable.
While a member of the Economic Committee Deputy of Iraqi coalition/Nora/albegari, explained that the current monetary policy by the Central Bank of oscillatory and non-supportive of the dinar exchange rate against foreign currencies.
She said albegari (News Agency): parliamentary Committee of economy were counting on the new management of the Central Bank, but so far has not been able to support the dinar exchange rate.
She added that the World Bank needs to have special policy and good management familiar with monetary policy and has the experience and expertise in the financial field to prove their worth in the coming period as the previous Administration has been able to maintain the stability of the national currency and the monetary reserve of hard currency and gold.
The Central Bank has authorized private banks, Rafidain and Rasheed banks through some branches working in Baghdad to sell the dollar for citizens wishing to travel on the ticket and passport.
However, these requirements do not apply and become every citizen could buy a dollar just to carry a passport valid for the previous conditions of sale back then because there was a lot of corruption in the sale.
And banks selling dollars to citizens and $ 5000 vs 1189 dinars to the dollar, allowing citizens to benefit from the price difference due to the rise in the domestic market when the dollar reached us $ 1227./finished/8 l. Eng.
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