Suhail: proceedings of the Committee in charge of monitoring central bank auction helped raise the value of the dinar

Wednesday, October 03 / October 2012 - 16:15


First Deputy Chairman of the House of Representatives Qusay al-Suhail

(Alsumaria News) BAGHDAD - The First Deputy Chairman of the House of Representatives Qusay al-Suhail, Wednesday, that the proceedings of the commission charged with overseeing the central bank auction contributed significantly raise the value of the Iraqi dinar against the dollar, saying that raising the value of the dinar will be reflected Positively on the lives of citizens.

Said Qusay al-Suhail said in a statement issued by his office today, and got "Alsumaria News", a copy of which, "The Committee tasked with monitoring the central bank auction and the extent of transparency applied where contributed significantly raise the value of the Iraqi dinar against the dollar through the recommendations and actions taken by" , noting that "it came after the proposals made by Connie president during repeated meetings with officials in the bank and BSA on auction for control of the waste of public money and selling foreign currency and money laundering."

He added Suhail that "this will be reflected positively on the lives of citizens, as the revaluation Iraqi dinar has returns positive living," adding that it would continue "to hold meetings with the Commission to set rules and procedures to ensure the non-exploitation of the owners of weak souls and traffickers money of the Iraqi people in the bank auction Central. "

The parliament speaker Osama al-Nujaifi said, on September 26, 2012, on the importance of the independence of the central bank and the priority follow-up daily auction of foreign currency, as pointed head BSA to near present the results of the Committee's report investigative on daily auction organized by the bank to sell the dollar on the Council.

The Nujaifi, in (10 September 2012), the need to adopt the current policy adopted by the Central Bank of Iraq in light of the regional situation troubled politically, economically and socially as well as having convinced that the dollar seeps out of the country illegally, while calling for the need to facilitate procedures for citizens to currency from the bank in critical situations.

The MP for the coalition of state law Haitham al-Jubouri in (12 August 2012) for the formation of an investigative committee will visit the central bank and look at the records and the numbers, sales and people who earn hard currency, noting that the work of the investigative different from the Commission's work regulatory Council approved formation , which includes the heads of the financial and economic committees and BSA.

The Central Bank of Iraq announced, (11 August 2012), the high 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.

As announced on 27 January 2012, rising foreign currency reserves to $ 63 billion, after it posted on the sixth of January 2012 bank reserves of 60 billion dollars, up from $ 50 billion in the end of year 2010.

The central bank held the Iraqi daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of public holidays in which the Bank stops for these auctions, and sales can be either in cash, or in the form of remittances sold abroad for a commission certain.

And escalated the charges on smuggling currency that overshadowed selling prices dollar in local markets and led to increased exchange rate over the past month, while lawmakers have demanded the need to take the initiative on the government to stop selling the currency in auctions the central bank, others stressed that Iraq is losing money great result smuggled daily out of the border, despite the praise of many specialists in economic affairs on the positives of the auction to reduce inflation and to control the value of the Iraqi dinar.


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