The Iraqi Parliamentary Economic & Investment Commission has announced that the main objective of Iraqi Parliament is approval of Financial Court Act. It would provide to move Iraq according to the International Standards and it would be more helpful to recover all Iraqi smuggled money abroad.
A member of the Commission MP Ahmed Saleem also confirmed that approval of the Financial Court Act has been added in the next session of the Parliament and it would be discussed, then it will be presented to the House of Representatives for approval in the upcoming session. He also added that this law will allow establishing Special Financial Court and it would present Iraq as a Great State according to the International Standards. It would also allow recovering Iraqi smuggled Iraqi Dinar currency and it would also stop the money laundering problem, and other financial corruption in the country.
Yesterday, a famous economic expert Abdul Hassan Shammari asked the Commission to raise the problems in the Iraqi Parliament for bringing back smuggled Iraqi Dinar currency. Al-Shammari further added that Iraqi Parliament will form a Special Commission after its approval in order to bring back looted and smuggled money from Iraq. but, it is important that Iraqi citizens don’t believe that this new Special Commission would be free of corruption because there are a number of Parliament members supposedly involved in the financial corruption in the country. he pointed out that massive decrease in the global oil prices badly affected the Iraqi economy, but massive financial corruption by most of the elements from political blocs also performed a role to disastrously decline the Iraqi economy. Most of the Experts believe that bringing back Iraqi money would also enhance Iraqi reserves and it will provide a handsome path for Iraqi Dinar Revaluation process.