Haitham al-Jubouri likely collusion between government officials and others in the Central Bank exchange rate to rise causing the dollar against the dinar

Friday, April 20 / April 2012 14:19

[Baghdad - where]
Most likely a member of the parliamentary finance committee of collusion by some government officials and traders with officials at the Central Bank caused an increase of high exchange rates of the dollar against the Iraqi dinar.

A member of the Committee Haitham Jubouri told all of Iraq [where] the day Friday, "I do not rule out that there is collusion and cooperation between some government officials, traders and businessmen with some weak people, and corrupt at the central bank behind the process of increasing the height of the dinar against the dollar in order to gain and personal interests, especially since the issue of corruption in the country today, and even use for everyone and exist in many state institutions. "

He added, "Understanding management of the Central Bank as its law gives him the right of isolation from the rest of the work of government institutions is wrong and untrue because the article [24] of the Act [56] and was ratified in the Coalition Provisional Authority at the time of the civil governor U.S. [Paul Bremer] confirmed that there would be regular meetings and consultation and coordination between the Central Bank and government representatives such as the Ministry of Finance for cooperation in the field of economic policy-making and financial of the country. "

Jabouri said that "it is necessary that there be controls in the conversion process of external financial and specify the number amounts to be converted to Aaatheraly economic situation," noting that "there will be a meeting on Sunday between representatives of the Ministry of Finance and government and private banks and the Central Bank to find out the solutions effective to reduce the high exchange rate of the dinar against the dollar and other currencies. "
And witness the Iraqi market rise significantly in the exchange rate of the dollar against the Iraqi dinar, as it arrived in hair buy dollars in some of the past few days to 1300 dinars, while the price specified by the Central Bank to this day is 1166 dinars, an increase of 134 dinars per dollar, and this equates to about 11 percent of the formally specified price.

As announced the General Secretariat of the Council of Ministers formed under the chairmanship of Deputy Prime Minister for Economic Affairs [Ruz Nuri al-Shawish] and the membership of the Deputy Prime Minister for Energy [Hussain al-Shahristani] and members of the Committee on Economic Affairs and the Secretary General of the Council of Ministers [on the Keywords] to study the fluctuation of the exchange rate of the Iraqi dinar recently, in addition to propose appropriate solutions and to address and prevent harm to the national economy. "

The central bank attributed the might and the words of Deputy Governor of the Bank of the appearance of Mohammed's [where] the high dollar exchange rate and increase the demand for it in Iraq to the global financial restrictions imposed on some neighboring countries, referring to Syria and Iran.

The Chairman of the House of Representatives Osama Najafi said during a session of the House of Representatives for "a message sent by him to Prime Minister Nuri al-Maliki urging him not to interfere in the matters of the Central Bank, and showed the message functions and duties of this bank, which is one of the independent institutions."

For his part, denied the Secretary General of the General Secretariat of the Council of Ministers on the Keywords in a statement on 13 April the current government's request to link to the Central Bank or weaken the independence and said that "the general policies of the state of the terms of reference of the Federal Government, and that monetary policy is part of economic policy," noting that " BSA reports I have twice the central bank to control foreign exchange operations and the existence of processes and involving the smuggling of fake organizer of money. "