A parliamentarian reveals: A Jordanian bank accounts for 75% of dollar transfers in Iraq

A member of the House of Representatives, Hussein Arab, revealed that a Jordanian bank had acquired 75% of dollar transfers in Iraq, and while revealing the volume of “forbidden” trade, he issued a warning about the rise in the dollar.

Arab said in an interview with the Twenty program broadcast by Al-Sumaria TV, that “there are many and major failures in the issue of the dollar and the parallel market, and we pointed this out a lot with the presence of information confirming the acquisition of the National Bank of Iraq (a Jordanian bank) of the total of 75% of foreign transfers,” stressing “work to The basis for holding this bank accountable and knowing the reasons for its acquisition of this percentage from the Central Bank auction.”

A member of the House of Representatives asked whether the liquidity of the National Bank of Iraq is proportional to the volume of dollars taken from the Central Bank? Pointing out that the Central Bank reinforces this bank with dollars from outside the platform, adding: We want to know the mechanism Transferring the dollar through the central bank.

He considered, “Limiting financial transfers to one bank out of 73 banks is a real disaster,” asking: “Why do we give the National Bank of Iraq (Jordan) this amount of dollars? Is the entire Iraqi economy linked to this bank?”, revealing that “the Central Bank did not transfer The dollar is for this bank from within the electronic platform and even outside it through what is called direct purchase, as it is a customary bank.”

Arab continued, “We sacrificed the Iraqi private banking sector in order to revive the foreign banking sector inside Iraq,” warning that “the Iraqi private banks will soon close their doors due to the central bank’s blunders, extortions, and arbitrary measures, stressing that what comes next will be difficult.”

He believed that “dollar prices will continue to rise if this issue is not addressed,” noting that “the dollar crisis that Iraq’s neighboring countries are suffering from has had a negative impact on our country,” noting that “former Prime Minister Mustafa Al-Kadhimi had permission from America to grant the dollar to… Iran and these tolerances have now ended.”

Regarding prohibited trade, Arab explained that “its volume reaches 10 billion dollars annually,” stressing “the necessity of drying up the sources of smuggling and taking quick government measures.”

He continued, “Alcoholic beverages, cigarettes, and gold are imported through the border crossings at a zero percent rate, even though their taxes are 200%, indicating that most of them are smuggled through the crossings in Kurdistan,” adding, “There are operations of currency smuggling and tax and customs evasion from the border crossings.”

Burathanews.com