An economist warns of the worsening of Forex trade.. “It is being exploited to smuggle the dollar.”, 19 MAY

An economist warns of the worsening of Forex trade.. “It is being exploited to smuggle the dollar”

May 16   Information/private..   Economic expert Nabil Al-Marsoumi stressed today, Thursday, the  necessity of adopting legal legislation to regulate the worsening Forex trade in Iraq, adding that it could be used to smuggle hard currency abroad.  Al-Marsawi said in an interview with the Maalouma Agency,

“There are many segments of society that have begun to use it after opening public Forex trading offices,” noting that “leaving things loose in this way will make them exploited in the file of money laundering and corruption.”  He continued, "The operation is large and has included trade in gold, oil, and the dollar, and there are no accurate statistics for it yet," pointing out that  "the matter is not limited to large capitals, but even employees and people with middle income." 

He continued,  "The escalation of such operations will contribute to the depletion of the country's financial and economic situation," pointing out that  "it is possible that this trade will be used to smuggle hard currency abroad."\\

In an interview with the Al-Ma’louma Agency, Ali Al-Zubaidi, a member of the Al-Fateh Alliance, called for the need for the government and the central bank to control the currency selling platform and not other countries, while he stressed that the  high rates of remittances through Forex trading represent the other side of money laundering. Ended 25/Y  

 https://almaalomah.me/news/64733/economy/اقتصادي-يحذر-من-تفاقم-تجارة-الفوركس-تستغل-لتهريب-الدولار