FC: you must monitor exchange offices to curb smuggling hard currency

Date: Wednesday, 04-07-2012 08: 35 pm
Baghdad-the citizen

Invited Member of the Finance Committee, MP Ibrahim Al-mutlaq to tighten legal supervision on work and money exchange offices to reduce smuggling hard currency abroad.

Iraq's President said in a press statement Wednesday: Although there are currency smuggling operations in all countries of the world and in different ways, they are disproportionately from one country to another, but the ratio of currency smuggling in Iraq and began spreading rapidly as a result of the absence of effective control on exchange offices.

He added: the ways to conduct smuggling hard currency in Iraq conducted several ways, including remittance offices of internal and external currencies although it officially sanctioned by the State but are questionable because of the lack of real control by the Government. and said: you must establish controls and legal action to follow up the work of exchange offices and cash currency exchange offices because they would undermine the Balkhash national economy, indicating that the phenomenon will appear later through deterioration dangerous local currency. continued smuggling hard currency out of the country, particularly for States that are International economic blockade, like Syria, which made the dinar has fluctuated against the greenback in recent period