The owners of banks and banking offices are critical of the policy of the CBI

Posted: January 28, 2014 in Iraqi Dinar/Politics

January 27, 2014

Baghdad: News Network fortune-teller – criticized traders buying and selling the dollar the way in which the Iraqi Central Bank to sell the dollar and according to the opinion of some specialists in economic affairs that the CBI did not follow the policy of the legal foundations and monetary, financial and economic right in the process of selling the dollar, as the process selling of the dollar must be carried out to bid, or at least selling price installer from the state, and the procurement process must be conducted in the tender and just like being in the world,

when you drop the currency in these countries the banks to sell part of the hard currency has against the local currency, and when they get better currency in this State banks where to buy foreign currency from the market for the local currency, but the error strategic central bank does not have auctions, but introduced the dollar prices downward any he carried out the tender gradual rather than bid, meaning that the bank had speculation and manipulation of the price of the dollar in the foreign exchange market for the benefit of companies and banks fraudulent instead of carrying out a bid real dollars to withdraw cash big market, which led to disastrous results, at a time when the national central banks in the countries of the world to intervene in the market only when the rise or fall of the local currency and not doing these banks in the world to sell hard currency daily quantities fictional prices downward for the dollar.

There are those who see specialists that those in charge of dealing and management of the central bank have neither any idea or knowledge in dealing with private banks or even banking offices, which is now experiencing and complaining to the authorities because of financial sanctions or graphics without taking into consideration the several constitutional articles granted to the citizen despising the profession of the Assembly of the field of its own.

number of owners of Iraqi banks and private business people and traders and continuing to the owners of banking offices criticized the mechanisms and decisions of the central bank in dealing with them and grant some foreign companies that are located in Baghdad privileges over offices of Iraq despite the fact that the assets of these foreign companies very little compared to what is imposed companies and banks Iraqi civil.

single company owners National Banking says: “One of the main obstacles facing him his company is the subject of a fine, which sees the prejudice against him, and the amount of the fine up to 25 million dinars due to the delay in statements quarterly.

explains owner Al Anwar Ahmed al-Saadi: “I am to know I hold such statements did not come to me any book from the Iraqi Central Bank to ask for it,” because I’ll pay the amounts arising from Ali and not that AGRM large sum so.

“explains: When there is an auction demanding the bank to provide a passport to the customer and when Show them so is say There are those who gave so passport and I wonder how I know of the person who provided the passport, and this is a wrong policy right and because the names will be repeated and we as companies to Anstata to control the so things.

“former MP for the Iraqi Central Bank harmful Mohammed Saleh said: that the banking policy in the region Kurdistan is different from Baghdad because the region since Nchaith seemed the steps the bank correct and did not use the policy of the Central Bank of Iraq the bad old, when he created the province has managed in a modern, and established a policy bank with them, and this is true Worth legacy global and forgotten that the province had been away since 1992 and isolated from Policy CBI So you see that the policy of the provincial bank is much better for Baghdad.

“For its part, says Chairman of the Board acts of the ladies in Iraq Amal Hussein: The Powered By IP.Board of problems and concerns are considered obstacles to either the banking business, and especially the issue of granting licenses banking offices, while there is big money Frozen widescreen CBI, and must find solutions to the launch of these amounts must be determined period of time to take advantage of this money in helping to promote the achievements of the economic reality of the country .

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