5/14/2012
BAGHDAD/ Aswat al-Iraq: Parliament Economy and Investment Commission MP Aziz Shareef al-Mayahi charged the Iraqi Parliament to be the main reason for the failures of the Central Bank of Iraq (CBI). In a press statement, copy received by Aswat al-Iraq, he added that "the negligence of the parliament in following up the CBI led to more failures in monetary dealings and policies, particularly in currency auctions.
He added that "smuggling Iraqi foreign currency out of the country was one of the main reasons for the deterioration in Iraqi dinar". "The CBI was a reason for wasting great amounts of the general budget, because it was calculated on the dinar basis, which will lead to more complications in future implementation of the governmental projects", he elaborated.
He added that the Iraqi economy was hit by great blow by some state officials and currency Mafias to provide phony import licenses with billions of dollars where smuggled out of the country. Mayahi stressed that 4 billion dollars reached the United Arab Emirates within 4 days.
He called the CBI to change the regulations of the currency auctions through allocating certain sums of money to some banks and money exchange offices, instead of confining the whole operation in the CBI hands.
© Aswat Aliraq 2012
