CBI Not to Sell Hard Cash to Private Banks: Al Shammari

On Wednesday, a member of the National Coalition in the House of Representative MP Kazem Al Shammari issued a statement that Iraqi Central Bank should stop the hard currency sale to private banks and to turn them into governmental banks. He also warned about the presence of Mafias in picking the U.S dollars from the import bills of fake goods, which caused a burning impact on the market and resulted as the downfall in the Iraqi dinar exchange rate in the local markets.

Al Shammari said in his press statement on Wednesday that the Iraqi Central Bank approached the customs authority for import verification process of goods whether these goods are added or not for tax value and these should be refunded from the import goods list which is defined by the Iraqi Central Bank. But the situation says that Iraqi Central Bank didn’t approached for customs and this factor created a serious situation and caused withdrawal of foreign currency circulated in the local markets. He further said that there are a number of bills showing very strange picture including 60 million imports are counterfeit and it means each Iraqi citizen bears an extra amount which should be used for construction in Iraq.

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