BSA calls for the central bank to account for the daily sale of foreign currency
06/04/2010 12:02 06/04/2010 12:02
April 6 April (Akaniwz) - The Office of Financial Supervision and the Ministry of Finance and the Central Bank on Tuesday to conduct an audit to the daily sales of foreign currency, worth 120 million dollars.
An advisor to Oversight of Finance Mohamed Baidhani told Kurdistan News (Akaniwz) announced today that "the Office of Financial Supervision has called Zah Finance and the Central Bank to Tkadinm lists and clear sales day of hard currency for the organization of the work of the sale of hard currency in the country and not to politicize the issue being an issue purely economic"
"The work is continuing to consolidate the banking system in the country, especially between the Ministry of Finance and Central Bank of Iraq while maintaining the Astqlalipalpennek"
"We note the Board of Supreme Audit that there are intertwined in the work of the Ministry of Finance and Central Bank of Iraq because of outdated legislation and lack of modernization of the law by lifting the Iraqi banking practical overlap between the two institutions"
Baidhani said that this "issue will not affect the economic level in the country, also pointed to the mismatch of bank statements regarding the conduct of foreign currency in the country."
The bank's banking had refused to interfere in his work by the Audit Court as an independent, describing the intervention of Audit Court as "politically motivated more than economic," he underlined at the same time that the "hard currency is not confined to finance the import of goods and proceed as well as to Import paragraph wide range of services that can not be records of customs show plus domestic demand for foreign currency and investment banks in that currency by 20% of their capital within the regulations, regulatory approved, the Central Bank of Iraq stresses that monetary policy adopted in the conduct of an auction of foreign currency is not responsible directly from the activities of the import trade of all goods and services outside the scope of funding. "
(آكانيوز) ج م 6/4/2010 (Akaniwz c) m 6/4/2010
06/04/2010 12:02 06/04/2010 12:02
April 6 April (Akaniwz) - The Office of Financial Supervision and the Ministry of Finance and the Central Bank on Tuesday to conduct an audit to the daily sales of foreign currency, worth 120 million dollars.
An advisor to Oversight of Finance Mohamed Baidhani told Kurdistan News (Akaniwz) announced today that "the Office of Financial Supervision has called Zah Finance and the Central Bank to Tkadinm lists and clear sales day of hard currency for the organization of the work of the sale of hard currency in the country and not to politicize the issue being an issue purely economic"
"The work is continuing to consolidate the banking system in the country, especially between the Ministry of Finance and Central Bank of Iraq while maintaining the Astqlalipalpennek"
"We note the Board of Supreme Audit that there are intertwined in the work of the Ministry of Finance and Central Bank of Iraq because of outdated legislation and lack of modernization of the law by lifting the Iraqi banking practical overlap between the two institutions"
Baidhani said that this "issue will not affect the economic level in the country, also pointed to the mismatch of bank statements regarding the conduct of foreign currency in the country."
The bank's banking had refused to interfere in his work by the Audit Court as an independent, describing the intervention of Audit Court as "politically motivated more than economic," he underlined at the same time that the "hard currency is not confined to finance the import of goods and proceed as well as to Import paragraph wide range of services that can not be records of customs show plus domestic demand for foreign currency and investment banks in that currency by 20% of their capital within the regulations, regulatory approved, the Central Bank of Iraq stresses that monetary policy adopted in the conduct of an auction of foreign currency is not responsible directly from the activities of the import trade of all goods and services outside the scope of funding. "
(آكانيوز) ج م 6/4/2010 (Akaniwz c) m 6/4/2010