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  1. #1
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    Central Bank: Permit the conservative lower U.S. dollar exchange rate based law

    Central Bank: Permit the conservative lower U.S. dollar exchange rate based law

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    BAGHDAD (Iba) .. The Central Bank of Iraq on his decision authorizing the governor powers to reduce the dollar exchange rate to the Bank Act document.

    A source at the bank in connection with the independent press (Iba) in response to a statement the former governor Sinan al-Shabibi, describing the decision (b wrong) that Article 20, paragraph one of the central bank law, which refers to the tasks the central bank governor as the chief executive and his conduct of daily operations.

    He also passed the same article to maintain the exercise of any powers conferred upon the Board of Directors of the Bank governor.

    The bank's board has decided to empower the governor to reduce the sale price of the dollar and of (1179) dinars per dollar to enhance the value of the Iraqi dinar based on market demands.

    For his part, former central bank governor issued an arrest warrant Shabibi, Thursday, authorization decision "wrong", stressing that this economic decision, as he emphasized that the authority of the Board of Directors higher than the authority of the province.

    Shabibi said in an interview with the local agency, said that "the central bank's recent decision to judge authorizing the new governor the power to reduce the sale price of the dollar is wrong," he said, adding that "the decision to reduce the price of the dollar economic and not administratively." (End)
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    Consensus is the absence of leadership-Margaret Thatcher
    Concentrated power has always been the enemy of liberty.
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  2. #2
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    "Denial and assertion" .. Private banks involved with corruption of the Central Bank
    Published in: 6:02 am, December 14, 2012 by ipa 2 Views: 111
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    BAGHDAD (Iba) .. Report / dreams Furaiji / .. at the time raised the issue of the Iraqi Central Bank a lot of questions about the nature of the banking system in Iraq and the smuggling of currency and money laundering and other things that were traded through the media, resorted House of Representatives to form an investigative committee to look for operations corruption at the central bank.

    The initial report reached Leh Committee members confirms the existence of investigative documents linking some private banks with the central bank money smuggling operations through currency auction sales of the Central Bank.

    In this context, confirmed by the Economic Commission Attorney Nora البجاري told the independent press (Iba), that the Commission investigative formed about discuss the issue of central bank gave a preliminary report sensitive includes the presence of financial and administrative corruption linked between the central bank and ten banks civil involved ERA selling currency, which is evaluated Bank Central.

    She البجاري "The parliamentary commission of inquiry, which was formed under the chairmanship of the Committee on Economy and Investment Ahmed al-Alwani and Deputy Speaker of Parliament Qusay al-Suhail and Chairman of the Finance Committee Haider Abadi ongoing investigations in the case of the central bank, pointing out: that the problems of other political issue deal of Russian arms and internal conflict on disputed territories became a lid on the issue of the central bank but the Commission continues its investigation of the smaller bank's employees to the largest employee in the bank. "

    They attributed: fluctuation of currency exchange rate to the lack of standardized instructions serious fixed issued by the Central Bank in the currency auction, saying: that the instructions issued to calculate the influential figures in the state to serve their interests.

    She البجاري: that the preliminary report of the Commission of Inquiry revealed the existence of large amounts estimated at 150 million dollars are being manipulated by a day through an auction sale currency, adding: no goods and fake recorded as imported goods internationally for the benefit of Iraq, but only names without the presence of any imported goods and amounts go to figures from the central bank and some politicians.

    She added: that the investigative committee found the artifacts are priceless reservoir Iraq cash in plastic bags will not be recorded in the central bank codes since the fall of the regime in addition to coins in large quantities will not register within the codes of the central bank and left a long time ago.

    She noted: the release of some employees to prove their innocence, but after that arbitrary arrests led to some bank staff to tarnish their reputations in prison and get negative results affect Mansbehn in the bank.

    The البجاري: The completion of all reports of the investigative give the penalty fair to both manipulate Bakot Iraq at the expense of the Iraqi people., Especially since this affects the economy of the country, especially the central bank is the only factor in the advancement of the Iraqi economy fi abuse to his reputation central bank negatively affect investment and the entry of investment companies and their dealings with Iraq.

    But a member of the Finance Committee MP Abdul-Hussein al-Yasiri his part, denied the involvement of banks with corruption civil jointly with the Central Bank.

    Yasiri told (Iba) .. "that private banks were not involved with corruption through central bank sales, saying: All the news about the involvement of civil banks by acquiring large amounts unfounded.

    As a member of the Economic Committee MP for the Liberal bloc Abdul Hussein Resan, he stressed that "the issue of the Central Bank of investigative made great strides and revealed many of the official documents that confirm the involvement of some private banks acquired central bank sales.

    Resan told (Iba) .. "The initial report of the investigative committee revealed the presence of significant corruption in a deal remittances and currency auction market due: the reason for the widespread corruption in the transfer of financial transactions through the accessories business in some Iraqi embassies outside Iraq.

    He added: that the next few days will see the results of the full report by the Parliamentary Investigation Commission.

    He Resan: that the central bank a large organization representing international economic link countries invested and the continuing spread of corruption among the corridors will lead to the loss of foreign investor confidence in dealing with Iraq.

    Conversely regarded investment bank adviser Nafie funding Elias Abou, all news referring to the involvement of private banks with corruption are rumors financial enhanced evidence and proof. "

    He explained Abbou's (IBA) "mechanism sell the currency and converted to banks at the central bank auction, noting: that all private banks provide commercial lists to import goods to the Central Bank and after the approval of the bank amount is converted to banks."

    He expressed surprise at the announcement of the appearance of corruption documents in private banks, stressing: that all these statements against banks are rumors aimed to discredit the private banks and the economy of Iraq.

    The official document revealed high sensitivity seen by the independent press (Iba) that ten banks belonging to the private sector dominated the CBI auction for the duration of 8 months starting in early 2012 until August 31, 2012.

    The document showed: acquisitions ten banks accounted for 81% of the central bank auction sales.

    The central bank governor said Acting Abdul Basit Turki in an earlier statement, "The investigation is ongoing in suspicious transactions to organize an auction of foreign currency and money laundering department." (End)
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    Consensus is the absence of leadership-Margaret Thatcher
    Concentrated power has always been the enemy of liberty.
    Ronald Reagan

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