Finance Committee Member: Confirm wasting funds auction the CBI and the latter ......
Finance Committee Member: Confirm wasting funds auction the CBI and the latter confirms that the institution that is not profitable : 12/08/2012 11:39
A member of the Finance Committee Parliamentary there is money now lost by the Central Bank of Iraq through the daily auction of foreign currency, with the bank denied the accusations confirmed that an organization that works to stabilize the market and not fall on profit and loss.
Jubouri said to (Center Brief for the Iraqi Media Network) that “what was he missed because of the money from the Iraqi Central Bank auction is equivalent to many times the announced increase in the size of the reserves, the money supply by the Bank.”
The Central Bank of Iraq announced yesterday its high reserves of hard currency to the $ 67 billion.
He denied the CBI on charges of causing financial loss due to daily auction of the coin, and stressed that he does not deal with the principle of profit and loss.
The deputy governor of the Bank for the appearance of vegetables (Brief Center for the Iraqi Media Network) that “the central bank is not a commercial bank, but bank policy works to stabilize the market does not deal profit or loss.”
He added that “the functional central bank is to maintain the stability of the market with a profit, even if we were to make a profit was possible to increase the price of the dollar.”
The Jubouri has revealed the formation of an investigative committee by the House of Representatives after the holiday holds the check numbers and the priorities of the Central Bank in addition to a joint committee composed of the heads of a second the two financial, economic and BSA.
Jubouri was revealed two days ago about the involvement of influential political figures, (undisclosed), the phenomenon of trafficking (5-10) million dollars a day through an auction sale of the currency, and emphasized that the money part of which goes to support “terrorism.”
Asked the CBI to investigate “immediately” to “alleged” involvement of influential politicians, the phenomenon of money laundering, describing the involvement of politicians talk about the “danger.”
The main tasks of the Iraqi Central Bank to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, in addition to regulating the sector banks.
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