Monday, July 8, 2024
Parliamentary Finance Committee talks about a decision that "created a crisis" for the corrupt and thieves
Parliamentary Finance Committee talks about a decision that "created a crisis" for the corrupt and thieves
Iraq is preparing to implement the latest decision of the Central Bank in about 6 days from now, which is to limit the delivery of dollars to travelers inside airports, a decision that the Parliamentary Finance Committee described as "a crisis for the corrupt and thieves."
"The decision will prevent corrupt people from exploiting other sales outlets to smuggle currency," said Jamal Koujar, a member of the Finance Committee, stressing that "limiting sales to the airport will ensure that the money reaches the actual travelers."
He pointed out that "this decision will not negatively affect citizens, but will besiege smugglers and corrupt people, as we discovered that millions of dollars are being stolen due to corruption, and the new decision will create a crisis for thieves and corrupt people who were exploiting the currencies that were supposed to go to travelers."
Koger stressed that stabilizing the dollar price in the markets requires strong security action on the borders to pursue smugglers, in addition to facilitating the Central Bank's exchange operations and increasing the quantities available in the currency auction to meet market needs.
Since Eid al-Adha until now, exchange rates have witnessed a "chronic" rise in dollar exchange rates until the selling prices in exchange offices reached 150,000 dinars for every 100 dollars.
The Financial Supervision Bureau revealed in a report that during the first half of 2023, there were more than 150,000 citizens who bought dollars for the purpose of traveling but did not travel, meaning they obtained 600 million dollars and sold them on the black market and benefited from the currency difference. link
"THE IRAQI DINAR WILL NOT FLOAT" BY GOLDILOCKS
GOLDILOCKS
If you remember earlier this year, we talked about the WTO stating that they would be working on exchange rates the second half of this year.
Once Iraq is reinstated into the Global Economy and joins the WTO, this will be a part of the process of developing International exchange rate values to level the playing field between countries.
Now, it makes sense to me why our CBI Banker contact that Dee and I speak to stated that Iraqi Dinar will not float.
It will be a revalued rate.
Iraq's "system paper" or "regulation paper" should go a long way in formulating a price for the WTO to evaluate.
© Goldilocks
Parliamentary Finance clarifies.. Will selling dollars at the airport limit its smuggling?
Parliamentary Finance clarifies.. Will selling dollars at the airport limit its smuggling?
The Parliamentary Finance Committee stated that the Central Bank’s decision to restrict the sale of dollars to citizens at the airport aims to combat currency smuggling and reduce corruption, while it indicated that the increase in its prices in local markets is due to smuggling operations to neighboring countries.
Committee member Jamal Koujar said that the decision will prevent corrupt people from exploiting other sales outlets to smuggle currency, stressing that limiting sales to the airport will ensure that the money reaches the actual travelers.
He pointed out that this decision will not negatively affect citizens, but will besiege smugglers and corrupt people, noting that we discovered that millions of dollars are being stolen due to corruption, and the new decision will create a crisis for thieves and corrupt people who were exploiting the currencies that were supposed to go to travelers.
Koger stressed that the stability of the dollar price in the markets requires strong security action on the borders to pursue smugglers, in addition to facilitating the operations of the Central Bank in disbursing it and increasing the quantities available in the currency auction to meet the needs of the market. link
ARIEL:"These 3 dates since the inception of this investment opportunity are the most pivotal in the history of this process"
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