Central Bank Participated in the loss of 57% of Iraqi imports: Finance Committee

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Iraqi Imports

Majida Al Tamimi, the member of Iraqi Parliamentary Finance Committee issued a press statement that the financial policy of the Iraqi Central Bank and foreign currency auctions directed by proclaiming the presence of parties to the window.

The preservation of many traders entraps to get huge profits. She further added in her press statement that more than 57 percent of the oil resources are moving in the pockets of politicians and traders among a problematic process to mislead the instructions of the Iraqi Central Bank for the hard currency transportation. Tamimi further added that Iraqi Central Bank sold hard currency to importers on an advantageous price that was less than the currency exchange rate of the market for the purpose in maintaining the currency exchange rates.

She further said that there was corruption mafia involved and false reports were submitted by some of the traders to the Iraqi Central Bank and it was suggested as the objective of the import merchant and it brought the assumption of more than 10 million U.S dollars by the dealers by getting at the official exchange rate from the Iraqi Central Bank, it was estimated 1117 Iraqi dinars per U.S dollar.

Al Tamimi also added that the commercial attachments and customs in the countries of the origin and some other elements contributed by specific percentages with major corruption process. The important element was the Central Bank that it didn’t introduce an import plan for the Planning and Trade Ministries but there was an exact need for the original records of the imported goods.

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