Parliamentary Finance: Committee formed to monitor the work of the central bank will raise its report to the Commission on Public Integrity .. And the presence of significant corruption in the sale of hard currency
Date: 10/10/2012 10:39:07 Wednesday
Baghdad (news) .. According to a member of the Finance Committee MP / National Alliance / Magda Tamimi, that the committee formed to monitor the work of the central bank completed its final report regarding the sale of hard currency, pointing to the existence of financial corruption senior central bank auction for the sale of hard currency.
said Tamimi (of the Agency news) today Wednesday: The Presidency of the Council of Representatives form two committees, one permanent and the other temporary monitor the performance of the central bank, indicating that the permanent consists of two deputies in the Finance Committee, while temporary consists of mainly the Finance Committee and the Committee of Economy Alniabaten and Chairman of Supreme Audit.
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said: that the Interim Committee submitted its report to the Presidency of the Council of Representatives regarding the sale of hard currency in the central bank auction and now the process of raising the report to the Public Integrity to take legal procedures regarding this, saying that the report prepared proved the existence of financial corruption large in the process of selling hard currency and person cases and the names involved in the sale of currency at auction Central involved so.
explained: that the report pointed out that there names were repeated are dealing with central bank auction day ie there is a process monopoly to sell the dollar in the auction and this will lead to sabotage the national economy and may be legally will be dealt with decisively in the coming days. indicated to: that every financial institution gets the corruption but the central bank turned out to be a corruption of a very large, especially when changing Iraqi dinar exchange rate against the dollar point or two points (any point means the dinar)
This, when combined will become large sums lose the country every day and there are people gangs benefited greatly From this the change rate of the currency. said: permanent committee formed to monitor the performance of the work of the central bank in terms of its disadvantages and advantages will report during the next two weeks to the Presidency of the Council of Representatives to see the performance of his work in general.
Baghdad / Orr News I learned Agency (UR) of political source familiar with the continuing investigation file currency auction sale in the Iraqi Central Bank, and sources confirmed that the results of the investigation will lead within days to withdraw by Central Bank Governor Sinan al-Shabibi of Directors of the bank.
The source said that "the coming days will witness a parliamentary decision to withdraw by the province of the Central Bank of Iraq Sinan Shabibi and some officials in the bank against the backdrop of significant financial suspicions of corruption as well as money laundering and will be brought to justice."
The House of Representatives form a parliamentary committee to investigate ERA selling currency in the Iraqi Central Bank and the Commission concluded that writing a report marking significant violations included in the sale file currency and money laundering and Mhoppeh transactions to people from within the bank.
The spin great suspicions about the work of the central bank which had previously confirmed that the Finance Committee in the House of Representatives and there are many financial irregularities i the bank, in addition to the existence of financial and administrative corruption is unprecedented.
[BondLady] I should probably explain these ok this is the gig on these arts shabs won't disclose everything to parliment and the goi his monetary plans he fears the corrupt ones who could and would exploit it imo so they are freaking out about the huge huge auctions
[BondLady] they don't understand what imo shabs is doing imo i think he is removing the majority of the 000 notes preparing for the next step releasing the ld's but he can't exactly tell too many whats up
[BondLady] so they freak out only seeing the huge numbers going through the auctions and not understanding shabs plans
[BondLady] so there saying cbi corruption this is imo only but i do believe when shabs stablized the rate a few days ago he allowed more usd to be sold and bought through the banks
[lightingcslt] BondLady yes thats why he needs to do this so that they would then understand why he did it
[BondLady] this stablized the dinar and he also set the 10 k usd restriction for leaving the country ] he's trying to guard theUN sanctions and not violate them per Iran the main 1 and Syrias un sanctions and still keep his monetary policy and the dinar stable and still guard inflation
[BondLady] so parl doesn't understand shabs plan i believe he has and that he's actually removing the 000 notes from the streets by increasing usd to sell through the banks in exchange for the 000 notes
[BondLady] thus drying up the markets more in preparation for the next phase the more 000 notes off the streets the better exchange rate can be added to the dinar
[BondLady] I believe that's been the plan all along but its imo though it can be the 2003 or the ones that have kurd language
[campdav] Shredd Thats a bunch of 000's off the streets with those huge auctions
[BondLady] the ones would be printed now we just dont know till it happens the less 000 off the streets the better rate for us and the exchange rate if they had tons on the street we be lucky to see a penny if they cut that by half we could see 25 cents or more
[pastor3] Do you believe the plan is to try and get these 000 notes off the street and release lower denom by the beginning of 2013.
[BondLady] if they removed 2/3 etc the rate would then be more at 1166 to withdaw 000 down it moves the pip from 1166 down 1100, 1090, 1000 etc.. on down till it was even 1-1 kinda
[BondLady] then it would start moving up which is plus instead of the minus like it now is make sense? depends pastor3 if it turns out to be a rd , ri, or a rv we won't know until it happens
[BondLady] and I suggest we stay away from dates such as 2013, 2014-15 etc... those things are there to confuse and curb speculators imo these are my opinions and thank you