Local banks smuggled billions of dollars through front companies run

Writings Thursday, 06 Aug 0.2015

A report prepared by the Parliamentary Finance Committee for a one Iraqi banks to transfer amounts exceed the budget of some neighboring countries, adding that dozens of front companies operating as fronts for the commercial banks involved smuggling currency since 2012.

The report goes back to late last June during the setback suffered by the Iraqi dinar exchange rate against the dollar after that. The central bank took out, early last June .14 banks waged from the auction currency for failing to pay the amount of remittances taxes and customs, but returned on June 20 and canceled a decision that sparked widespread controversy and caused a remarkable rise of the dollar exchange rate against the local currency.

Explains the report, which was obtained by the (long) a copy of it, that one of the banks, which have reservations on anonymity, he bought a $ 8.8 billion between 2012-2015, while the transfer of $ (6.455) billion dollars to a Jordanian banks. The same as the Bank transferred $ 1.8 billion to another bank, while the transfer of more than half a million dollars to the Bank of Jordan third.

The report confirms the Parliamentary Finance Committee as a 'through the account statement it became clear that the bank sent to one exchange companies in Oman amount of more than $ 5.5 billion', Msheeraly that the amount transferred more than balance the Jordan itself.
Turning to the parliamentary report by the Iraqi another bank transfer (7.923.570.500) billion dollars between 2012 to 2015, and he has transferred more than $ 1.7 billion to the Bank of Jordan.

The report points out that the bank itself, has transferred more than $ 1.7 billion to the Iraqi foreign exchange company in Oman, wondering reports from thesThe report points out that the bank itself, has transferred more than $ 1.7 billion to the Iraqi foreign exchange company in Oman, wondering report 'Who benefits from these large orders?''
The parliamentary report also points out that the 'total remittances banks that we have received, through the statements of the central bank, is 12.481.22.30 billion, of which 8,825,710 billion dollars went to the exchange companies', noting that' the Iraqi Central Bank by the transfer of names of their applications have been submission '.
The report said 'we have the amount of 3,250,870 billion dollars we do not know where to go', noting that 'This is the amount that we were able to detect him from remittances is 12% of the remittances of the central bank only'.

And how to buy these funds, the parliamentary report shows that 'there are requests submitted to the Central Bank of the names of companies for the purpose of importing and then these banks operate (double Asowic) correspondent bank and of that there is no name of the companies that submitted to order the back of her name transfers nor the name of the companies that her name appeared transfer of names submitted an application to buy the currency ', asking,' We do not know what this is called, you are offering false documents? Or money laundering? '.

The report notes that 'groups that operate these issues are large buyers of the dollar, where a bank in 31/5 purchased fifty-two million dollars, while another bank bought forty-eight million eight hundred thousand dollars and other banks'.
He stressed that the Parliamentary detected each purchase includes a profit of $ b (14) dinars, which means that the profit of one million dollars to include 14 million dinars, persisting saying 'how if it hit the (50) million dollars?'.

Wondering how to finance reports for banks and the purchase price of the dollar and where her money? And those who back? He acknowledged that 'abilities to get to the facts difficult and not easy'.

It deals with the report prepared by the Parliamentary Finance Committee that 'the chairman of a bank born in 1989 was employed architect in previous periods in the laboratory for the bran flour but between overnight income currency auction was entering each day $ 30 million in the year 2012'.

The report reveals that the recent bank is one of the first five banks that were to take 94%, from central bank sales.

The parliamentary report noted that 'all Ahli Bank today has at least 15 trading company which is all fake, which comes to him daily amounts of cash revenue and expense involved in turning to these banks, which in turn included in the auction. "

The report speaks of 'customers' liberated in 2012 'pilot checks' on the state banks $ 6.5 trillion Iraqi dinars, and have purchased $ 3.7 billion.
It is said that 'checks Flyer' instruments without some assets granted by banks to customers to complete the purchase of some operations and security