Deputy calls for an extraordinary session to discuss the issue of suspicious transactions in the bank
On: Saturday 11/08/2012 19:42

Central Bank announces the rise of foreign exchange reserves to $ 67 billion

BAGHDAD - The Citizen
Central Bank of Iraq, a rise in its reserves of hard currency to $ 67 billion, confirming that these reserves are the largest in the history of Iraq, pointing out that these reserves is one of the monetary policy to reduce inflation in Iraq, so A member of the Economic Committee in the House of Representatives Aziz Sharif Mayahi of the existence of entities operating in an orderly fashion to destroy the Iraqi economy through the drain of hard currency in Iraq, calling for
The deputy governor of the Central Bank of the appearance of Mohammed Saleh was quoted by "Alsumaria News", "reserves the Iraqi Central Bank foreign currency rose to $ 67 billion, up from $ 63 billion the end of last May," noting that these "reserves are the largest in the Iraq's history. " Saleh added that "this increase will increase confidence in local currency and will increase stability," stressing that "the Iraqi dinar has become covered by these reserves to 1.3 in the foreign currency." Salih stressed that "the Iraqi currency has become strong due to high bank reserves, in spite of fluctuations in recent exchange rate of the Iraqi dinar due to outflows of foreign currency," pointing out that "these oscillations are treatable, but they need time to cure the problem." Saleh pointed out that the "high bank reserves would be a monetary policy that could reduce inflation in Iraq through the use of an impact on levels of domestic liquidity, to absorb the excess demand by providing a display of foreign currency." The Central Bank of Iraq announced on 27 January last, the high foreign currency reserves to $ 63 billion, after recording the sixth of January 2012 bank reserves $ 60 billion, up from $ 50 billion year-end 2010. So said a member of the Economic Committee in the House of Representatives Aziz Sharif Mayahi, according to a press statement that "there are suspicious transactions undertaken by influential figures within and outside the central bank is working with specific companies in the form of mafias economic work in an orderly fashion on the depletion of central bank reserves and to provide cover for the funds of unknown source laundered view to re-move it to third parties does not want the best for Iraq and its people "." The situation is worsening in the Central Bank and entities operating in an orderly fashion to destroy the Iraqi economy through the drain of hard currency in Iraq to force the Iraqi citizens to remain captive and follower of desires is not legal. "and demanded Mayahi Presidency of the Council House of Representatives held a special meeting this week to develop solutions in this critical topic and to find appropriate mechanisms to prevent such a suspicious transaction will harm significantly the economic development of Iraq. " He was a member of the Committee of Economy and Investment Salman al-Moussawi revealed the inability of the House of Representatives to monitor the performance of the Central Bank because of the lack of experts in financial management and banking noting that Central Bank Governor Sinan Shabibi rejected earlier that the central bank is subject to the supervision of the executive branch as an independent body and that Constitution making the control of the central bank linked to the Council of Representatives. "He was a member of the Finance Committee's parliamentary deputy Haitham Jubouri had called earlier in the Presidency of the Council of Representatives to intervene to stop what he called" bleeding the hard currency and money laundering in the Central Bank of Iraq. "he said in a press conference that" there is information received indicate the presence of significant violations of the Central Bank carried out by the mafias from inside and outside the bank in addition to companies that participate in the auction sale of hard currency, in addition to the lack of seriousness in the activation of anti-money laundering law No. 93. "
For his part, the central bank adviser appearance of Mohammed Saleh, told the news Saturday that the central bank is not a corridor for criminals and smuggling of money as claimed by some members of the Finance Committee, a prestigious institution with a history distinguished, indicating that the central bank is ready accountable to the House of Representatives. He added that the Article (103) of the Constitution provides for the accountability of the central bank in front of the House of Representatives if there is any doubt in the work of the Central Bank a right of the Finance Committee after the Ministry of Finance. He pointed out that the bank would cooperate with the Finance Committee to detect people who want to tarnish the reputation of the bank through the work of smuggling, if any, praised, the work of the financial and control of the central bank for the detection of terrorists and smugglers of public money. said that the most important elements of governance of the Central Bank is the accountability, transparency and disclosure to create an atmosphere appropriate to the Finance Committee to search for terrorists in the central bank.