Report: Iraqi banks smuggled billions of dollars

August 6, 2015 13:15

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

The report is due to late June during the setback suffered by the Iraqi dinar exchange rate against the dollar after that.

The central bank took out, early last month, 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 the decision triggered controversy and caused a remarkable rise of the dollar exchange rate against the local currency.

Explains the report, according to the news agency "pratha", 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 a Jordanian bank third.

The report confirms the Parliamentary Finance Committee that "through the account statement it turned out that the bank was sent to one of the exchange companies in Oman amount more than 5.5 billion dollars," Mushir that the amount transferred more than Jordan the same budget.

The parliamentary report touched on the Iraqi another bank transfer (7.923.570.500) billion dollars between 2012 to 2015, and that it has transferred more than $ 1.7 billion to a Jordanian bank.

The report notes that the bank itself, has transferred more than $ 1.7 billion to the Iraqi foreign exchange company in Oman, the report asks, "Who benefits from these large orders?".

The parliamentary report points out that "the total remittances of 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 by the names of their applications have been submission ".

The report added: "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 explains, that "there are requests submitted to the Central Bank of the names of companies for the purpose of import, and then these banks operate (double Asowic) Bank The reporter that there is no name of the companies that submitted to order the back of her name transfers nor name of companies that appeared transfer its name names submitted an application to buy the currency, "and wondered" We do not know what this is called, you are offering false documents? or money laundering? ".

The report points out that "groups that operate these issues are large buyers of the dollar, which has one of the banks 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 every purchase includes a profit of $ b (14) dinars, which means that one million dollars to include a profit (14) million, persisting by saying, "How If you hit the (50) million dollars?".

Wondering how to finance reports for banks and the purchase price of the dollar and where have these funds? And those who back? He acknowledged that "capabilities to get to the facts difficult, not easy."

It deals with the report prepared by the Parliamentary Finance Committee that "the chairman of a bank management was born in 1989 was employed architect in previous periods in the laboratory for the bran flour but between overnight income currency auction, and it enters every day to $ 30 million in 2012".

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

The parliamentary report pointed out that "all my family 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" Free 2012 "pilot checks" on government banks, $ 6.5 trillion Iraqi dinars, and have purchased $ 3.7 billion.

It is noteworthy that "checks flying" without instruments balances granted by some banks to customers; some operations to complete the purchase and warranty.