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CBI says they brought in over 12 Trillion Dinar in the 3rd Quarter of 2012...
Does that mean what we think it means? :)
Gurus we need your help on this one...chime in and let us know what you think!
I highlighted the juicy areas below...
This article comes via Currency Newshound.
August 15, 2012
Iraqi Central Bank said: “The sale of the dollar to banks aimed at withdrawal of liquidity from the market as is the case in the majority of the world’s central banks.”
The bank said in a statement today: “The majority of markets where the price of an official and the price of a parallel, and the bank seeks to minimize the difference between the two rates through the inspection teams, to comply with the instructions of the central Bank, which sells the dollar to all government and private banks and branches of foreign banks and not for the banks, civil only. “
He said: “The policy followed by the Bank since two thousand and four and so far is one of the successful policies, as it led to a reduction in inflation from 50% to 5.8% and falling prices and the stability of the result of the tools that were in place, which was to invest the night and deposits of maturities / 7, 14 and 30 / days of the dinar, in addition to investment and night deposits for Maturities / 7 / and 30/90 / days of the dollar “.. Indicating that the bank Canceled the tools mentioned with the exception of deposits for seven days only of the Iraqi dinar to encourage banks to grant credit for industrial projects, agricultural and residential.
He pointed out that monetary policy was welcomed by the International Monetary Fund.
The accusations by MPs in Parliament to the Central Bank of corruption and money laundering at an auction sale of the currency.
And a student member of the Parliamentary Finance Committee Haitham Jubouri the direct intervention of the Presidency of the Council of Representatives to stop the bleeding the hard currency and money laundering in the Iraqi Central Bank auctions.
Jubouri said at a news conference: “The serious information and many are available for significant violations occurred and you get a day in the central bank, caused by the control of the mafias from inside and outside the bank and limited companies on the auction sale of hard currency, in addition to the lack of seriousness in the activation of the Anti-Money Laundering No.. 93 “.
As head of the Iraqi National Congress Ahmed Chalabi, “The Iraqi banks pay very large sums of money to buy the dollar raises fears of sources of local currency that was provided to purchase those quantities of dollar from the central bank. “
He said in a press statement: “The Iraqi banks paid three trillion and 749 billion dinars for the fourth month of this year, 4 trillion and 634 billion dinars to buy dollars in the fifth month of this year , with four trillion and paid one hundred seventy-seven billion dinars in the sixth month. “
Asked Chalabi .. Where you got these banks on these massive amounts of Iraqi dinars to buy dollars at an auction in the Central Bank of Chit? “.
Economists and analysts believe that Iraq has become President of the taxpayer dollars for Iran and Syria, which were subjected to severe economic sanctions because of Iran’s nuclear program and the suppression of the Syrian authorities of the protests in nearly 17 months.