And companies are smuggling fake currency

10/11/2015 0:00

 BAGHDAD - Muhannad Abdul Wahab
Stressed the Integrity Committee in the House of Representatives on the need to put an end to The Phantom of the companies working on money smuggling out of the country by illegal means, as revealed the existence of community banks involved to money laundering, it confirmed that it is working in cooperation with the Central Bank and the Ministry of Commerce to develop mechanisms that will limit and control the operations money laundering and smuggling.

He revealed Committee member Abdul Karim Abtan, in a special interview for »morning», about the existence of fake companies dealing with the Central Bank amounts millions of dollars without being registered in the Ministry of Commerce, stressing that the Committee continues to search for these companies and Stlahakha to recover funds from them.

And between Abtan that «these companies are dealing with the Central Bank through forged papers, turning to the accounts of hundreds of millions of dollars», noting that all of these thefts is the taxes of the Iraqi people.

The MP said the central bank and the Commission on Integrity situation mechanisms to reduce these thefts, adding that the Commission will work with the Ministry of Commerce to detect these companies and to stop the frauds practiced.

The Parliamentary Integrity Committee hosted a Central Bank director on the Keywords, and I discussed with him about the development of mechanisms to reduce the theft of hundreds of millions of dollars through front companies not registered with the Ministry of Commerce.

Committee Chairman Talal Khudair Zobaie, at a news conference with the participation of a number of members of the committee, attended by «morning»: The «Integrity Committee hosted the Governor of the Central Bank and his accompanying delegation, to discuss the central bank's fiscal policy, and the obligations incumbent on Iraq as a member of the International Monetary Fund and a mechanism to combat the smuggling of foreign currency in ways that circumvent the law ».

And between Zobaie that «the Committee discussed with the Governor of the Bank of the mechanisms that must be taken by the central bank to deter private banks in violation of the regulations and instructions», adding that «the debate also covered the banks that are reluctant to pay the dues of Baadaat customers and address letters of bank guarantee and the policy of the Central Bank followed in sale currency compared to neighboring countries. »

The Chairperson of the Integrity Committee that «hosting touched to discuss the process of the advancement of the Iraqi economy and trade and plans of the Bank's future in light of the current crisis», stressing that «it was agreed with the governor of the bank to deal with illegal methods by the banks in the process of selling hard currency».

He pointed out that «the debate also covered the damage resulting from the use of loans in return for interest of foreign banks, and the mechanism of control over the rate of the Iraqi dinar, investigation and audit and follow-up phantom companies not registered with the Ministry of Commerce that share the currency auction».

He said he Zobaie «An inquiry was made by the Governor of the Central Bank on the legal mechanisms in hard currency from Iraq Switch to abroad», stressing the need to «accounting lagging banks and horseshoe on the law in the process of buying the currency and smuggling».

In turn, he stressed the Integrity Committee member Juma Bahadli, the need to take the ministries and institutions of the state has a responsibility to follow the people's money and disclosure of thieves of public money from the phantom companies.

Said Bahadli in a statement »Sabah», that «the Ministry of Commerce is the first on the themes of thefts that occur through phantom companies that deal with it», indicating that «rapid, conducted by the Integrity Commission, the Ministry of Commerce detection proved the existence of a lot of phantom companies that did not register in the ministry and go to it a lot of Iraqi money because they deal according to invoices and forged seals ».

MP revealed the existence of four community banks involved money laundering, noting that what arrived in the state treasury of fining these banks amounted to 450 billion dinars.

With Bahadli noted that the UAE handed over the amount of remittances to Iraq in AED to prevent money laundering operation, and between Jordan began pursues the same approach in dealing with the currency, adding that Turkey did not respond with the central bank so far in this regard.

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