The House of Representatives votes on the decision and ends discussion of the file of the Central Bank to form a fact-finding committee

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[ltr] November 21, 2018 November 21, 2018
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[ltr]The House of Representatives in its fourteenth session held under the chairmanship of Mr. Mohamed Halboussi, Speaker of the House of Representatives on Wednesday 21/11/2018 and in the presence of 204 deputies discussed the financial and monetary situation and the work of the Central Bank and took a decision to form a fact-finding committee on the building of the bank and auction sale of currency and damaged money, While voted on a decision to suspend the work of the previous decisions of the Council of Ministers issued since July 2018 until 24 October.


At the start of the session, Mr. Mahmoud Abd al-Rida Talal was sworn in as a member of the House of Representatives after the vote to add the paragraph to the agenda.


The President of the Council to the presence of ten winners of the membership of the House of Representatives have not been sworn in so far.


The Council voted on a resolution related to the decisions of the former Council of Ministers during the period of the conduct of business submitted by the Legal Committee.


The resolution stipulated that "the House of Representatives decided to consider the decision of the Prime Minister and his previous government a number of decisions contrary to the provisions of the Constitution in its articles (24,61,80) during the period of the end of the third parliamentary session and the absence of legislative and oversight role of the House of Representatives, the House of Representatives decided to suspend the decisions since The first of July 2018 until 24 October 2018, and the Prime Minister and members of his government to review the decisions issued and take what is required in accordance with the provisions of the Constitution and the laws in force.


He pointed out that the House of Representatives has received from the Supreme Judicial Council a list of names nominated for inclusion in the agenda of the Council for a vote at the next meetings. .


On the other hand, the President of the House of Representatives to host the head of the border crossings and customs to inquire about the mechanism of work adopted at some ports, as well as hosting the Council of the Director of the Iraqi Trade Bank in the next session.


On the other hand, the Council ended the discussion of the financial and monetary situation and the work of the Central Bank in the presence of the Governor of the Central Bank and members of the Board of Directors.


Mr. Ali Al-Alaq, Governor of the Central Bank, stressed the importance of attending the Parliamentary Finance Committee to the Central Bank on a regular basis to view the functions and details of the bank's work. He pointed out that there are several supervisory departments within the Central Bank. In addition to the establishment of two risk management and compliance departments that contribute to the examination and audit of the activities of the bank and identify the points of imbalance in it, noting that the state treasury did not Any loss due to the sinking of public funds due to the filling of the financial value of the fees.


As for the repercussions of the damage of seven billion dinars, the Director General of the Department of issuance and safes during the period of sinking that the entry of rain water in November 2013 caused damage to the funds in the coffers of Rafidain Bank, noting that it is the duties of the Central Bank to receive the damaged currency and replace it as part Of his administrative work, stressing the receipt of the currency affected by the drowning after confirmation of authenticity and then destroyed after being restricted to Rafidain Bank, pointing out that the Office of Financial Supervision in his report on the occurrence of damage to the currency mentioned and the need for replacement by the Central Bank.


The interventions of the ladies and gentlemen of the deputies focused on the report of the Bureau of Financial Supervision revealed that the sinking of the money was due to holes in the wall of the room as a result of the lack of repair cable special communications, and inquire about the amount of money spent from the amount allocated to lend funding initiatives, including the agricultural initiative, The amount of money seized under money laundering and terrorism financing, in addition to the demand to stop building the building of the Central Bank for its large financial cost and its location next to the river and the middle of a residential area in addition to a complaint from the owner of the land.


For his part, Mr. President Halabousi approached the Weather Department to ascertain the weather on the day that the money was deposited in Rafidain Bank.


The intervention included knowing the procedures used in the sale of the currency for the existence of suspicions of corruption in it and stressing the importance of tightening its measures to prevent waste of money and the tendency to take advantage of the flexibility of monetary policy to reduce the exchange rate, as well as praise the policy of the Central Bank impact of its transition from the black to gray area and seeking to reach The free zone and the claim to preserve the banking institutions, in addition to the inclusion of the Kurdish language beside the Arabic when printed currency.


In his response to the interventions, the governor pointed to the approach of the Central Bank of the Ministry of Finance after the damage to the currency in the Rafidain Bank and the establishment of a committee of the bank identified the imbalance causing the sinking of the currency, indicating that the loans granted to the Housing and Real Estate Fund has achieved their objectives as opposed to bank loans, And did not achieve the desired goal, calling for attention to the local economy of Iraq and its development that the dependence on oil imports to meet the cash need will be threatened in the next thirty years, explaining that the work of the Central Bank lies in the mediation between the Ministry of Finance and the local market in The conversion of the currency from the dollar to the dinar and work to balance the price of the dollar, indicating the establishment of the bank to a database of information on the fate of funds that go outside Iraq, announcing the imposition of 560 billion dinars fines on banks for violating regulations.


For his part, the President of the Council announced the holding of a joint meeting between the Governor of the Central Bank and the members of the Board of Directors and the Finance Committee of Parliament requesting them to discuss the Bank's policy. He called for legislation to allow the Central Bank to contribute to supporting state institutions in the development of educational and health sectors.


On the building of the new Central Bank, the Director General of the Administrative and Engineering Department at the Central Bank explained that the design of the new building was referred to the Office of Architecture Zaha Hadid, which consists of 37 floors and is located on an area of ​​19 thousand square meters and belongs to the Ministry of Finance, noting the nomination of 18 global companies capable of He said that the competition was limited to 4 international companies only and referred the project to an Azerbaijani company that offered less than the estimated cost of $ 837 million, beginning to provide the parliamentary finance committee with all the documents On the subject of the new central bank building.


For his part, the director general of the currency sale window pointed out that the monopoly of the currency and economy by the government created a problem in the price of the dollar and determine the amount of sale, praising the procedures of the Central Bank since 2016 for the sale of currency and included auditing and follow-up assets of funds and access to the final beneficiary and the official price match Until he reached the local market, noting to take the Central Bank legal proceedings against Bank of Baghdad after the submission of its management of bank violations.


And called on the interventions of ladies and gentlemen MPs, bearing the responsibility of previous governments responsible for deliberate negligence, which led to waste of public money and the opening of an investigative board to investigate all approvals and actions taken on the project of building the Central Bank, as the estimated cost of construction of the building is very high,


The Chairman of the Council appointed a fact-finding committee of the Finance Committee and a number of deputies of the committees of integrity, economy and investment on the building of the Central Bank to verify the cost of the project and research in the technical and design details and the timing of the selection of the project and consult with the specialists, to be voted on the members of the Committee at the next meeting, Search the sale of the currency and the priorities of replacing the damaged currency and its real quantity.


The meeting was adjourned until Saturday, 24/11/2018
Department of Information
Parliament
21/11/2018




http://ar.parliament.iq/2018/11/21/مجلس-النواب-يصوت-على-قرار-وينهي-مناقشة/
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