Governor of the Central Bank and the agency: report Audit reservation on some transactions currency auction

Wednesday, October 17 / October 2012 - 12:29

Governor of the Central Bank and Abdul Basit Turki Agency

(Alsumaria News) BAGHDAD - An Iraqi Central Bank Governor agency Abdel Basset Turki, Wednesday, that the report of the Office of Financial Supervision reservation on some currency auction transactions, while stressing that the results of the investigation will be presented to the public after the completion, expressed the hope that Freezing does not affect Shabibi on bank transactions with the international banks.

Said Abdul Basit Turki said in an interview for "Alsumaria News", "report the BSA, which was sent to the Integrity Commission about the existence of corruption in the Central Bank guarantee check transactions currency auction of the period between the first of January last until early last August, where she was There are cases of the absence of follow-up and monitoring the private banks, "asserting that" the reservation to report some hard currency auction transactions conducted by the bank. "

Turki added that "the results of the investigation on the existence of corruption in the Central Bank will announce to the public until the completion of the investigation," and expressed hope that "does not affect the freezing Shabibi on the Bank's work and dealings with international banks."

Turkish considered that "the continued currency auction and support the right direction is necessary," stressing the importance of "transaction to be completed in a real bank transactions."

The Iraqi Council of Ministers decided, on Tuesday (16 October 2012), the prime BSA Abdul Basit Turki management position of Governor of the Central Bank and the Agency.

It quoted a number of media, in the 14 of October 2012, sources monitoring the Iraqi judiciary issued an arrest warrant for bank governor Sinan al-Shabibi corruption charges, pointing out that Shabibi fled abroad after the issuance of the note, with the bank denied the news, saying that the governor participate in an annual conference in Tokyo and will return to Baghdad.

He was a member of the Committee investigative on the work of the Central Bank of Haitham al-Jubouri said, in the 14 of October 2012, arrest warrants were issued and travel ban against Central Bank Governor Sinan al-Shabibi and officials at the bank, and is regarded as the survival of the conservative abroad will prove corruption charges. Demanded the Finance Committee in the House of Iraqi parliament, the first on Monday (15 October 2012), Central Bank Governor indictees providing evidence, while some expressed the fear that the accusations were "politically targeted" for the bank.

And accused the Iraqi List led by Iyad Allawi, in (14 October 2012), some political forces "trying Nile" the independence of the Central Bank of Iraq, arguing that the independence of the Bank are necessary to maintain the exchange rate of the dinar and the protection of the currency and prevent inflation, while government held responsible for investigating money laundering and disclosure of beneficiaries.

The head of the House of Representatives Osama Najafi revealed, in (7 October 2012), the existence of suspicion of corruption in the work of the Iraqi Central Bank, while noting that the Council proceeded to achieve "depth" in the policy of the central bank since 2003, vowed to pursue the investigation "personally" the importance of the issue.

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.

It is noteworthy that the pace of accusations escalated on smuggling currency that overshadowed selling prices dollar in local markets and led to increased exchange rate months ago, while deputies asked 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 substantial funds by 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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