Al-Halbousi opens fire on the Central Bank: money smuggling chaos!
On Monday, economic expert Omar Al-Halbousi revealed a significant problem that has arisen since the United States introduced Iraq to the external transfer platform. He emphasized that the complexity and delay in sending remittances is not due to the platform itself, but rather due to influential individuals and speculators who are manipulating the financial and banking sector. These individuals have dangerous influence in the central bank, causing further complications.
In an exclusive statement to “Jarida”, Al-Halbousi expressed that after the US decision to introduce Iraq to the external transfer platform in order to monitor and limit unauthorized transfers, a significant problem arose due to the complicated procedures implemented by the Central Bank and banks, which led to delays in sending transfers.
Citizens and merchants were unhappy with a delay and complicated procedures caused by the Central Bank’s failure to monitor and hold violators accountable. The Central Bank could have prevented these issues by better utilizing its authority. This was stated by an individual who added that these complaints were received.
Al-Halbousi stated that the complexity and delay serve the purpose of perpetuating chaos in remittances, in order to maintain the black transfer process under this chaos.
The economic expert explained that despite the presence of the platform, illegal transfers still occur and are redirected towards their intended destination.
During an interview, he disclosed that the Central Bank not only turned a blind eye to the disorder and illegal transactions but also colluded with banks to sustain the smuggling process and create obstacles for ordinary citizens. This is done in order to exploit the situation by channeling money to specific parties.
Al-Halbousi explained that the complexity of the issue would persist as it is advantageous for certain parties to maintain it in this manner. They do this to be able to push through their own agendas and to use the excuse of complications and delays. Although this is often attributed to the platform, it is not the platform’s fault.
At the conclusion of his speech, the economic expert blamed “influential people and speculators” for manipulating the financial and banking sector, delaying and complicating the sending of remittances.
Iraqi Oil Minister Highlights Recent Achievements, 12 SEPT
The Minister of Oil reiterated during the opening of the first Iraq Oil Projects Exhibition and Licensing Rounds Conference in Baghdad that he has increased Iraq’s oil and gas reserves. He claimed to have added 6 billion barrels of crude oil and 32 billion standard cubic feet of gas, which brings the total oil reserves to 146 billion barrels.
According to Hayan Abdul Ghani, the current government has achieved significant milestones such as signing the development contract for the Ahdab oil field, which has a capacity of 250,000 barrels per day (bpd), and launching the Karbala Strategic Refinery, capable of producing 140,000 bpd.
In addition, he mentioned the expedited functioning of the Akkas gas field, the implementation of the first phase of liquid separation for Basra Gas Company (BGC) that has a capacity of 200 million standard cubic feet per day, and the operation of the liquid gas warehouse in Samawa.
The announcement highlighted the signing of the integrated South Iraq Agreement with TotalEnergies. This agreement includes investment in gas from five oil fields, which will produce 600 million standard cubic feet of gas daily and 210,000 barrels of crude oil daily. The project also involves the use of seawater for injection instead of river water, as well as the construction of the largest solar power station in Iraq, with a capacity of 1,000 megawatts.
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