An international investigation team reveals to Ebadi the rampant corruption in the dollar auctions of the Iraqi Central Bank


Economic Page

Bertha News Agency
views 104 2017-11-20

A source close to Iraqi Prime Minister Haider al-Abadi said on Monday that the international team investigating corruption files in Iraq, Abadi told the involvement of dozens of Iraqi officials to waste public money and stolen through the dollar auctions of the Central Bank of Iraq

According to the source, "the investigations revealed that Iraq is wasting large amounts of money, sometimes amounting to one billion dollars per day, because of the difference between the dinar exchange rate between the auction and the black market."

He added that "the auction was not controlled because of the entry of banks not approved daily auctions and benefit from the exchange rate without realistic processors, in addition to the introduction of ten companies banking and financial transfer in the auctions, without effective control,

Noting that "most banks owned by Iraqi officials or have large shares in them, and entering the auction means raising the capital of the bank ten times a year at the expense of blocking the dollar at the price of the state for the ordinary citizen."

The source said, "The team informed the Prime Minister, Haider Abadi, the completion of the investigation of the auction file, and disclosure of funds deposited in foreign banks to dozens of Iraqi officials."

He stressed that "Abbadi directed the Central Bank to adopt international classifications to give banks the dollar and engage in auctions, in exchange for maintaining the dollar exchange rate, which remained stable at 1180 dinars to the dollar," pointing out that "the Central Bank is currently taking procedures to write off 24 out of 42 A bank involved in daily auctions to sell the dollar. "

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