Chalabi fear of Iraqi banks to pay large sums of local currency to buy dollars from the Central Bank : Monday, August 13 / August 2012 13:04

Baghdad {: News} Euphrates President expressed his Iraqi National Congress Ahmed Chalabi, his fear of Iraqi banks to pay large sums of money from the very sources of the local currency to purchase those quantities of dollars from the Central Bank.

Chalabi said in a statement received by the Euphrates {News} a copy of it on Monday that "the Iraqi banks to pay large sums for the purchase of very dollar raises fears of sources of local currency that was provided to purchase those quantities of dollar from the central bank."

"The Iraqi banks paid {3} trillions and {749} billion dinars for the fourth month of this year, and {4} trillions and {634} billion dinars to buy dollars in the fifth month of this year, with paid {4} trillions and { 177} billion dinars in the past six months. "

Chalabi said, "We have to ask .. where you got these banks on these massive amounts of Iraqi dinars to buy dollars at an auction in Central Bank of Iraq?".

"The Board of Supreme Audit and the CBI are called upon today, check the account of their customers bought Iraqi banks these local dollars, because it is known that the banks are prohibited from buying foreign currency and speculate on its behalf if it is not there to have a customer who has a reason to buy dollars, according to law and order" .

"We must also check where you got those customers on these large amounts of Iraqi dinars to buy such large amounts of dollars."

Chalabi said, "The Central Bank of dollars to prevent the bank account to the buyer's correspondent bank, the Central Bank and the right to request access to the bank account statement to the local Iraqi reporter with any bank in the world."

And went on "so necessary to the central bank to look at and analysis on the transfer of dollars bought by the correspondent bank after conversion from Iraq, if the these parties Office of Financial Supervision and the Central Bank analyzed the purchases of the dollar would amount to the fact of the money laundering and the transfer of foreign currency from Iraq, in contrast the law. "

He acknowledged that the central bank in charge of the protection of the dinar exchange rate, he succeeded in this mission a success worthy of praise, saying, "If we compare the exchange rates of the currency in Iran, Turkey and Syria to exchange rates in Iraq over the past five years, we find that the fluctuations of exchange rates in Iraq did not exceed the 8% While in Iran has reached to 120% and 90% Turkey 80% and in Syria. "

Chalabi called on parties concerned to "study the matter seriously because any collapse in the Iraqi dinar exchange rate would have significant negative consequences affecting the poor and low-income because commodity prices will double what they lead to the erosion of their purchasing power."