View Full Version : Parliamentary Finance: high dollar prices of the subject «temporary»

04-28-2015, 08:23 PM
Parliamentary Finance: high dollar prices of the subject «temporary»

4/28/2015 0:00

Central Bank to take action to reduce the phenomenon of money laundering
BAGHDAD Shaima Rashid
parliamentary finance committee explained that the rise in the dollar Annie subject of prices will end once the improved economic situation and the rise in oil prices in world markets and the rise of Iraq's 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 that is going through the country, expecting that the dollar decline 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 increased to 600 000 barrels, noting that all these factors will increase state revenues and will affect positively on the dollar's decline.

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 (http://rover.ebay.com/rover/1/711-53200-19255-0/1?toolid=10029&campid=CAMPAIGNID&customid=CUSTOMID&catId=11450&type=2&ext=301581913000&item=301581913000) which will make Iraq need substantial financial assistance for the 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 the prepayment of taxes and customs of the goods entering Iraq, returned that will double the country's imports.

and decided to bank in (28 March 2015) to meet 8% of tax rates and customs own 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 washing Alamwal.oukal told the "morning": that there is $ 200 billion from 2005 to 2014 came from Iraq by companies or banks are buying the dollar and convert it without providing lists of buying a topic related to money laundering.

He added that the Finance Committee formed with committees Integrity and economics, 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 the 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, with the exercise of justice in the sale,

and claim to participate in the auction banks providing goods enter documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and otherwise apply to them the penalties stipulated in the Central Bank Act (http://search.barnesandnoble.com/Federal-Reserve/Source-Wikipedia/e/9781230645186) or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.