Expert warns of dollar smuggling after allowing companies to enter the conversion Auction Central

April 26, 2014



Warned the economic expert Majid picture of allowing money transfer companies participating auction without tightly controlled currency, warning banks offload of U.S. currency.

And said the picture that "money transfer companies in Iraq of 34 companies dealing with banks in specific ways for the dollar by switching Awanakd and allow it to enter the auction will facilitate the launch currency and actively participate Noting did not specify the ceiling uniform amounts granted to them from the U.S. currency censorship it will lose its effectiveness" .

"If companies were uncensored and trace the modern methods in their dealings, it will lead to the leakage of money out of Iraq by goods Almohmah or ways to smuggle other as they reach the currency to people banned them or not known where they are uninformed sources of stability,"

and explained that the picture "central bank's move to allow these companies to enter the auction contains the first positive sides which facilitates the trading of the currency but the event of loss of control, it will lead to negative results and the tent is to offload the banks and the local markets of the dollar."

The bank had announced to allow money transfer companies to participate ERA currency, stressing that this would contribute to the stability of the exchange rate permanently.

The bank said in a statement that "the management of the bank has agreed to do money transfer companies to open accounts directly with the central bank dinar and the dollar to carry out procurement of foreign currency." The bank added that "this process will expand special events auction of foreign currency and contributes to the stability of the exchange rate permanently."


http://www.uragency.net/economy/1224-2014-04-22-09-34-11.html


http://www.uragency.net/economy/1224-2014-04-22-09-34-11.html