Integrity hints at the “dominance” of foreign banks on the currency sale window and moves to limit their powers, 26 OCT

 Integrity hints at the “dominance” of foreign banks on the currency sale window and moves to limit their powers

Shafaq News / A member of the Parliamentary Integrity Committee, Vian Dakhli, hinted on Thursday at the “dominance” of branches of foreign banks on the window of buying and buying foreign currency in the Central Bank of Iraq.

“The committee is currently discussing the issue of fiscal and monetary policy in the Central Bank, especially after information indicating the dominance of some branches of foreign banks and Iraqi banks over the Iraqi monetary market and the window for buying and selling foreign currency,” Dakhil told Shafaq News.

She explained that “the Parliamentary Integrity Committee is working on legislating a law limiting the validity of foreign banks, their branches and Iraqi banks with foreign capital,” noting that “this limits the lorrous profits obtained by those banks from Iraq.”

An intronsider pointed out that “there are some foreign banks and foreign capital that acquire money transfers in Iraq, and unfortunately all Iraqi money goes to another country.”

Iraqi experts warn of a “currency leak” out of Iraq due to “corruption” in the country’s currency auction.

The central bank’s administration plans to gradually cancel the dollar auction, until it is completely canceled.

https://www.shafaq.com/ar/سیاسة/النزاهة-تلمح-لـ-هيمنة-مصارف-جنبية-على-نافذة-بيع-العملة-وتتحرك-للحد-من-صلاحياتها