Parliamentary reveal financial operations "a new gimmick to manipulate prices the dollar" and asserts: loans will go to the mafias

Author: HH, MJ
Editor: BK, HH 6.29.2016 16:02

Long-Presse / Baghdad
Parliamentary Finance Committee revealed on Wednesday, on the operations of a "new gimmick" to manipulate prices the dollar, and accused the exchange companies and banks eligibility to stand behind it, and as I came back to government loans "will not achieve" its goal of being will go to "the pockets of the mafia" economic, economist stressed that those loans will reduce the dollar exchange rate because it will stimulate employment and production sectors.

She said the Parliamentary Finance Committee member Majida al-Tamimi said in an interview to the (long-Presse), "The instability of the dollar exchange rate in Iraq is due to influenced by internal and external factors," noting that "monetary policy and the auction of the currency too much impact on the dollar exchange rate."

And praised al-Tamimi, "the central bank decided to impose sanctions on the exchange companies or banks that do not sell the dollar at the official rate set," revealing "the exchange companies out fraud by selling the dollar more than the official price without being subjected to the death."

She said Tamimi, "The owner of the company is selling the dollar, which he got from the auction currency of one of its partners at the official rate on according to official receipts," pointing out that "the partner sells the dollar far ahead of the official price set for the citizen without the central bank to be able to hold him accountable because it does not It holds official status. "

Tamimi confirmed, that "the dollar's exchange rate is subject to fraud and manipulation operations followed by banking companies and banks participating in the auction of the currency", expressing astonishment, of "not to impose sanctions on participants that fraud and manipulation."

He promised al-Tamimi, a deputy from the Liberal bloc, "Many companies and banks, which by a lot of question marks participate in the auction of the currency," noting that those "are companies and banks controlled auction sale currency and the dollar exchange rate."

And on the Cabinet's decision to limit the purchase of currency registered with the Ministry of Commerce companies, described al-Tamimi, the "good" afterthought by saying, "But it's better to cancel the auction of the currency and go to the Sindhi credits."

She pointed to a member of the Finance Committee, that "the actual stability of the currency mortgage transforming the Iraqi economy into a product which raises the value of the dinar."

In another context, Al-Tamimi confirmed that "a lot of corruption taints government loans operations for citizens, industrialists and peasants", stressing that "the economic mafia is controlled on those loans."

Tamimi has ruled that "the aim of the government loans achieved or that positive in the economy or contribute to the development of the country affect", citing reasons that it "will go into the pockets of economic mafias and gangs."

For his part, the economic expert on behalf of Jamil Antoine, in an interview to the (long-Presse), said that "some banks and companies that participate in the auction of dollar behave behaviors is committed to affecting the exchange rate."

He said Antoine, that "some of those companies and banks own methods that enable them to sell the dollar on the black market away from the central bank and controls censorship," returned to "stabilize the dollar exchange rate can not be achieved in a short period of being a process linked to the price of oil."

He noted economic expert, that "the government bond exchange and payments to contractors, will move the domestic market and leads to a state of relative stability," stressing that "the granting of government loans will reduce the dollar exchange rate against the dinar because it will activate the various work and production sectors, thus reducing import."