BANKING COMPANIES: CENTRAL BANK CONTROLLED BY ROUTINE PROCEDURES AND THE UNFAIRNESS
Criticized a number of owners of companies banking financial, Tuesday, crackdown that followed the central bank and the routine which controls procedures, and argued that they can not approach the office of any employee to ask about the fate of their transactions, and while stressed that the CBI lacks regulations in its dealings, pointed out that what puts the bank of instructions and controls “and the harsh injustice.”
Said Mohsen al-Shammari, a company owner banking during the seminar discussion organized by the Baghdad Chamber of Commerce in the building of the room and I attended (range Press), said that “the central bank since 2003, is pursuing policies and methods lack the systems does not affect anything from Iraqi Central Bank Law, which is also in need of amendments and significant changes. ”
The Shammari that “the bank imposes huge amounts of money and clouds at banking companies that are primarily supposed to help the central bank to draw and maintain its policy on the market.”
And between Shammari that “those amounts that have reached half a billion dinars placed in the accounts of the Iraqi Central Bank as collateral and capital of the company, as well as the payment of five million dinars every year, and that we do not know where to go Is it tax or fee of custom.”
He Shammari that “the central bank as possible be described circuit security of Saddam Hussein, because we as subjects of companies can not approach the office of any employee and we can not ask about the fate of our dealings official that remains many months in the inclusion of the bank’s employees, as well as directing fines and penalties, without warning in the absence of any official letters. ”
For his part, general manager of the Rasheed Bank Kazem fistula in an interview to the (long-Presse), “The central bank in general needs to be objective in his dealings plans, particularly with the private banks and banking companies because it does not there could be a single window to handle.”
He continued fistula that “those banks and banking companies are institutions profitable, so when he goes its penalties and fines ongoing as well as restrict the procedures and routine big, you will not get the profit and this will be the existence problem in the Iraqi market will reflect negatively on the citizen.”
In turn, the deputy central bank governor and former chief economist appearance of Mohammed Saleh in an interview with the (long-Presse), “The Central Bank despite his quest for monetary policy governing the economic process, but it should be close to the banking companies and private banks by having a day and at least one to listen to their problems and solve them as soon as possible. ”
And the benefit that “banking companies have a significant impact on the market during the trading of foreign exchange, and in order not to make those companies platforms to waste those currencies must embrace and reduce red tape have put the law clear and explicit to them, they seek profits through their dealings with the citizen and the market, and everything about the market. ”
In the opinion of specialists that the lack of monitoring the work of banking offices by the central bank and the unstable security situation, as well as the preoccupation of politicians in the internal conflicts of factors helped to increase the activity of mafia money laundering in these offices, especially after the exposure of some neighboring countries to tensions economical made them dependent on Iraq as an outlet for hard currency and smuggled into those countries.
The Central Bank of Iraq announced, earlier, for the abolition of banking companiesunregistered has regardless of obtaining leave from the Ministry of Commerce or not, and stressed that the banking companies registered and approved before 2003, the 300 companies only, as pointed out that the current companies exceeded thousands It is a mixture of companies operate according to the terms and conditions of the bank and the other got a leave of absence from the Ministry of Commerce, while others operate without getting any vacation.
The Truth in matches Development Fund of Iraq revealed, (the eighth of April 2013), the central bank sold during the past six years in the auctions process conducted by about 207 billion dollars, equivalent to 56% of Iraq’s oil revenues in those years, and while confirming that those sales were more than doubles the local market need, they revealed that more than half of those sales went to the banks poured specific purchases of the bank in the Gulf and Jordan.
He accused lawmakers, politicians and economists Central Bank of Iraq over the past months, to burn “an average of four billion dollars a month in an auction of hard currency for the benefit of ten banks, most of them with a capital of the Gulf, you buy a day most of the claims of the central bank’s hard currency and make a profit on the overcharge up to six percent including them control of the Iraqi economy. ”
He denied the Iraqi Central Bank, on Wednesday (November 27, 2013), and the presence of smuggling weekly from inside Iraq to the Swiss banks, and confirmed that the statements by the Chairman of the Committee of European relations with Iraq on this subject “baseless and taken from the former Vice-President and sentenced to death Tariq Hashemi. ”
The CBI said in (November 24, 2013) seeks to amend the banking laws, including the proportion to the current situation, and pointed out that the money laundering law the most prominent laws that seek to modify it, while stressing that going to play a developmental role of the Iraqi economy.