View Full Version : Ministry of Finance wants them to check in the sales of 120 million dollars from the

04-05-2010, 02:11 AM
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Ministry of Finance wants them to check in the sales of 120 million dollars from the Central Bank

04/04/2010 Sunday 20 - Spring CO -1431 E
Reuters) - A Board of Supreme Audit and the Finance Ministry adviser, the central bank to conduct an audit to the daily sales of foreign currency, worth 120 million dollars But the bank questioned the credibility and professionalism of the charges against him, saying that political motives behind them.
He claimed a statement issued by the official spokesman for the Ministry of Finance does not match the data from the World Bank and private financial flows vetting process conducted by the central foreign remittances daily with the corresponding imports.
The central bank independent financial institution not affiliated with any government agency and operates under a special law called the Law of the Central Bank. The Bank is the official body responsible for formulating monetary policy for the country.
Asked a spokesman for the Ministry of Finance said in a statement on Saturday from the Central Bank "Check sales of hard currency to foreign remittances daily," which is approximately 120 million dollars a day devoted to the importation of goods and foodstuffs.
The statement added that the process of scrutiny by the General Commission for Taxes with the Office of Financial Supervision, "did not show compatibility between external transfers and daily goods entering the country."
The statement said that this would take "the extra mile to find out the exact amounts ... and bear the private sector banks and the central bank responsible for this audit."
Different financial institutions in the three official affiliation in a time when the Iraqi Central Bank by a special law by following the Office of Financial Supervision in the Iraqi Council of Representatives belong when the General Authority for taxes to the Ministry of Finance and is part of the government umbrella.
In the face of these accusations, which is a precedent in the political and financial scene of the current Iraqi response to the Iraqi Central Bank said in a statement Saturday on charges of the Ministry of Finance, describing it as "interference in the Bank's policy ambiguous."
The bank said in a statement received by Reuters, said he had "found the report of the Audit Court was referring to the statement of the Ministry of Finance, his motives were questionable biased neutral control we have come from the Office said."
The statement called the report "reflects the politicized deliberately taking advantage of the current political transition period to the country to make waves economic purposes unknown lead to striking the economic stability achieved by monetary policy and its attendant successes over the past years and the introduction of the country in economic chaos with dire consequences."
The current period of the country's transition extremely sensitive. The many political parties had earlier warned of the power vacuum which was going through the country now due to the termination of the former Iraqi Council of Representatives and the inability so far to form a new council.