MP: June will mark the end of dollar smuggling in Iraq, 15 APRIL

 MP: June will mark the end of dollar smuggling in Iraq

Member of Parliament Majid Shingal confirmed on Sunday that June will witness an end to dollar smuggling operations, noting that strict oversight will be imposed on the funds of companies, politicians, and influential people. 

Shingal said in a statement monitored by (IQ): "Our transfers are currently considered dollar smuggling, but the situation is now better. I believe that in June, regular correspondence will be adopted, which will significantly reduce smuggling, and may even lead to its near disappearance." 

He noted that "some type of oversight will be imposed on the payment system in Iraq, including knowing who paid, how they paid, and where the money was spent. These processes will be automated to ensure transparency and track expenditures."

Shingal explained: "The goal of these measures is to reduce the amount of support provided to factions and those loyal to Iran. It is true that reaching zero support is not currently possible, but we are very close to achieving it, and this is the primary goal." 

He added, "Another goal is the entry of 60 American companies into the Iraqi market daily, and this is a very positive sign." 

He pointed out that "these measures will include political forces, influential people, and corrupt individuals, not just factions, as there are many individuals with improper financial dealings. In June, comprehensive oversight of companies, funds, and all audits will begin, and this is in Iraq's interest."

Shingali continued, "I heard that there is a freeze (block) of some politicians' funds in foreign banks, and this is said, but I do not know how true it is. In the same month, the official audit will begin, and these accounts will be revealed, to whom they belong, and where they were transferred. It is worth noting that these accounts are located in Europe and can be stopped at any moment." 

He concluded by saying, "These politicians always benefit from the money they steal from people in their countries and deposit in foreign banks, but in the end, they get nothing from it. To this day, the former regime's assets have not been recovered, and there is still money deposited in anonymous bank accounts, frozen in Switzerland and other countries."  link