Documents reveal more corruption about “the foreign currency auction” in Iraq

Documents reveal more corruption about “the foreign currency auction” in Iraq

- in Releases
2111
Comments Off on Documents reveal more corruption about “the foreign currency auction” in Iraq

%d9%88%d8%ab%d8%a7%d8%a6%d9%82-%d9%85%d8%b3%d8%b1%d8%a8%d8%a9-%d8%a7%d9%84%d8%a8%d9%86%d9%83-%d8%a7%d9%84%d9%85%d8%b1%d9%83%d8%b2%d9%8a-%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82%d9%8a-1

The “foreign currency auction”, which was created after the US occupation of Iraq in April 2003, specifically in the year 2004 by the Central Bank of Iraq, represents a new form of the  economic corruption associated with the process of money laundering in Iraq and due to the importance of this issue and its negative impact on the exhausted Iraqi economy ,that Rawbet Center  for Research and strategic Studies  has obtained a new document with respect to auction of foreign currency in Iraq, issued by the Federal Office of control ”   Office of audit  the  activity of  financing and distribution,” that was sent to the General Secretariat of the Council of Ministers, ” the public Service commissions” and dated on the fourth of February 2015 m. Where the prevailing Subcommittee revealed   on the results of audits of transactions,  “the  auction of foreign currency  of the year 2010” in this document  about the mechanism of  corruption and fraud that were taking place in the auction of  foreign currency  in Iraq through observations such as, for example, that all  forms of the buying and selling of the dollar  and purchase orders with an auction sessions for buying and selling foreign currency are photocopies, not original, and also observed that some remittance companies, and companies of banking  were buying  dollar  from   auction of foreign currency   through more than one bank for the same auction session. And also observed  that the  Executive Committee of the sale and purchase of foreign currency  to approve the transfer of funds for the benefit of customers of some banks, contrary to paragraph “4” from the Iraqi Central Bank’s instructions. And observed not to attach a commercial, regular list  by  North Bank related to the customer, “Hussein Salim Hussein.” And many other observations that reveal the state of corruption in the financial sector in Iraq.

 

Surprisingly, of the corrupt  who are looting the capabilities of the Iraqi people, that they are  themselves  on  the forefront of public affairs of Iraq and speak “sincerely” for the concerns of the Iraqi people and the aspirations of his youth and his problems and propose the necessary   solutions to solve it , they are well aware that they are an integral part of the tragedies of the Iraqi people, noting  that these financial parasites would not  become  financial empires in Iraq  if there was not a fertile environment for the financial and administrative corruption in Iraq after the ninth of April  2003.  Since  founding of modern  Iraq, starting with the monarchy of  “King Faisal I and King Ghazi, the King Faisal II,” which lasted until 1958, and through the republican system, “President Abdul Karim Kassem, President Abdul Salam Arif and his brother Abdul Rahman Arif, President Ahmed Hassan al-Bakr, and President Saddam Hussein” Iraq has not seen the phenomenon of corrupted financial empires , as seen in Iraq after the US occupation of  it.

 

The  former head of Iraq’s Commission on Public Integrity, Moussa Faraj, said that corruption leaders are politicians and Senior government officials, and  this corruption was  on  the forefront of the reasons that led to the fall of one-third of Iraq to the hands of Daesh, and  politicians have reduced the Iraqi people  with the components , and the component  with  parties, and the Party with   the closest to them , and the closest  with  the entourage  .  Iraq today can not be rescued  by reforms, even if they exist, because the basis of any real reforms must begin with the trial of whales of corruption and recover  Iraqi stolen  funds that made the corrupted heads wealthy. No hope of saving the rest of Iraq, but a purge of    these corrupted  heads. and  because the rawabet center  is  always  seeking for  the accuracy of the information provided to the reader that it puts  to his hands  this document issued by the Office of Federal Financial Supervisory which is  as follows:

12345678910111213

 

According to the documents, there are a number of  banks  still dominant on the currency auction  in Iraq, including the Middle East Bank and alhuda bank and  Trans Iraq Bank for investment  and the Dijla and Furat Bank    and Ashur international Bank, and some banking companies registered by  the names of other people, but in fact affiliated to the same owners of  banks  previously mentioned  and in spite of reports of office of financial Supervision(Federal Board of Supreme Audit) , no  any legal action was  taken against them  and it should at least stop the work of these banks which violated the regulations of  the Central Bank in order to reduce the phenomenon of money laundering.

Rawabet Center for  Research and Strategic Studies