Economists are demanding accountability of banking companies involved wasting money

2016-06-07 18:06:00 | (Voice of Iraq) - Baghdad

A number of economists, on Tuesday, government accountability and financial banking companies involved conversion of wasting money.

The expert said Mohammed al - Rubaie , said that "the government should hold accountable the financial and banking companies involved conversion of wasting money , " adding that "there are also banks that are involved and those responsible should be punished it."

Rubaie added that "some banks do not work have only currency trading via the corporate banking and money transfer affiliated one way or another , " pointing out that "those banks follow several ways to circumvent the law and pass their deals."

According to informed sources on economic affairs that there are international control mechanisms on the movement of funds in Iraq in coordination with the Iraqi government to monitor both large and small details in this regard, and that the banks that operate twisted ways owners can not disavow the legal responsibilities.

Iraq held during the past years several agreements with various countries to control the cases of money laundering and smuggling, after there were reports from international organizations indicate widespread financial violations in the country.

The Iraqi Ministry of Finance in April, it has received support from the United States on credit and prepare anti - money laundering arrangements.

The terms of support for a deal between Iraq and the International Monetary Fund on the standby credit arrangements, and willingness to contribute to the loan guarantees.

The Iraqi government and aims of all these moves to reduce the phenomenon of wasting money and acquire a few companies large amounts of them, and including banking companies.

He revealed a news article published late last May, the arrival of the US commission specialized combat financial intelligence department staff to Baghdad and set them up at the US Embassy for the purpose of expanding coordination with the Central Bank of Iraq.

The writer said he "was deprived of 300 company financial and banking transfer from dealing, where they are provided with the central bank 's weekly information about the companies and the Iraqi banks by suspicions of money smuggling, fraud, money laundering," pointing out that " the bank literally implement the recommendations of this committee , which provide him weekly information. "