Many Companies Participating in CBI Auction With Forged Papers

Iraqi Dinar 123 News:– The Iraqi Central Bank is considering that a number of participants in the foreign currency auction at the Iraqi Central Bank were submitted false statements and the secondary currency auction was taking place in the building of those companies. The Iraqi Central Bank is working hard to make sure that companies should provide original papers with full account details of purchase to the Central Bank and all the provided information should be correct and this information should be updated time to time. It is considered the responsibility of the Associate Commissioner or Director of the company participating in the foreign currency auction at the Central Bank of Iraq.

The CBI also said that some of the companies and their offices and connected to fake people at comprehensive connections with some staff members of the Central Bank. They buy foreign currency from the auction at the Iraqi Central Bank and then sell it in their premises. These companies and offices are difficult to catch that are participating in the Central Bank’s foreign currency auction. These companies are participating according to commercial contracts but providing fake import documents. These companies are showing nothing except that they are buying currency from the auction at the Central Bank and sell them to other fake people in the parallel auction type. It is important that these companies are rejecting these allegations after exposing these facts, but these people have amounts in millions of dollars participating in the Central Bank’s auction and presenting fake import invoices to the Central Bank.

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