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Wednesday, July 04, 2012
Finance Committee: banking offices should be monitored to curb the smuggling of foreign currency
The member of the Finance Committee MP for the coalition in Iraq Ibrahim al-Mutlaq, to tighten legal controls on the work of bureaux de change and money orders to curb the smuggling of foreign currency abroad.
Mutlaq said "the Agency news", on Wednesday, although the smuggling of currency found in all countries of the world are carried out in different ways, but they are to varying degrees from country to country, but the proportion of currency smuggling in Iraq are great, and began to spread rapidly due to the absence of effective control on the offices of banking.
He added that the methods of conducting foreign currency smuggling in Iraq are in many ways, including the offices of internal remittances and foreign currency, although it was officially licensed by the state to carry out operations, but is questionable because of the lack of real control by the government on them.
He should be placed controls and legal action to follow the work of banking offices and the offices of currency conversion Balkash it would harm the national economy, indicating that the phenomenon will appear later seriousness of the deterioration of the local currency.
And continue the phenomenon of smuggling foreign currency out of the country, especially for countries that are exposed to an international economic embargo such as Iran and Syria, which made the exchange rate of the dinar against the dollar in volatile recently.
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