The crisis of "Dinar Alalak" pushing Iraq to open the files of currency bleeding and corruption exchange licenses
10/10/2018





For the third day in a row, the crisis of what is popularly known as "Dinars Al-Aalak" continues after the issuance of the new version of the Iraqi currency categories 250 and 500 dinars and 1000 dinars and the name of the Governor of the Central Bank acting Ali Muhsin Al-Alaq, which is contrary to the law that restricts the signature through the words of the Governor of the Central Bank or Signing above the words governor only.


The new "Arab" received information from informed sources, confirming that the Iraqi parliament will discuss, Thursday, during its scheduled morning the crisis of the new currency , while calling for deputies of the Sadrist movement and the Communist Party and the Axis Alliance to open the file of the Central Bank of Iraq fully and investigate charges The bleeding of the hard currency and the selectivity of the bank in granting work permits to exchange and transfer companies, and procedures for the sale of the dollar, as well as the reason for the survival of the post of governor by proxy.


An official in the legal department in the Iraqi parliament for "the new Arab", it is scheduled to be opened these files during today's session, and in case of any circumstances or lack of completion of discussions will be completed the next session on the requests submitted to the President of Parliament by deputies.


The parliamentary official, who declined to be named, that the repercussions of the crisis put the central bank governor on the currency in contrast to the Iraqi law sparked a wide debate on the street, which led to the direction of Parliament to open the file of the bank as a whole.


The governor of the current bank is a member of the Islamic Dawa Party led by Nuri al-Maliki, and took the post of acting governor in 2014 and was before Secretary General of the Iraqi Council of Ministers during the first and second Maliki.


The issuance of the new Iraqi currency within the treatments of the crisis of cash and the damage of small currencies in the category of 250 dinars and 500 and 1000 dinars, and carried the new currencies, another change sparked a controversy, raising the verse "Say Allah is one" for the Iraqi currency, which is a tradition since the Abbasid state in Baghdad and until today , And was replaced by a painting of the marshes of southern Iraq, which are natural water bodies listed on the World Heritage List recently.


Official in The Central Bank of Iraq confirmed to the "new Arab" that what has been offered from the banknotes actually in the market during the past days through government and private banks amounted to about 7 billion dinars, and there are about 40 billion more ready to put in the market gradually during the coming period all bear the name And there are other sums that will reach Iraq, also printed in Switzerland.



The official, who declined to be named, added that another huge amount of the new currency was due to drop to the Iraqi market in early November, but there are doubts about this possibility because of strong opposition by parliament and demands to withdraw what was removed to the market immediately.


For its part, the Central Bank of Iraq issued a statement saying that "the bank has the right under the regulations to determine the categories of currency and metals, paper and its dimensions, forms, material, content, weight, design and other features.


He stressed that "the banknotes in various countries contain the signature of the issuing authority, which is the governor of the Central Bank. Some of them put the signature of the governor on his name, including the person who puts the signature without a name.


The central bank cited the dinar currency issued in 1932, pointing out that this approach is adopted by the central banks of Egypt, Saudi Arabia, UAE, Lebanon, Turkey and others, so the Central Bank of Iraq decided to include the name of the governor when reprinting or issuing any cash, The trends found in the signature alone lack the significance required by the word (governor) on the banknote.


While the move was considered a political propaganda for the governor of the Central Bank by proxy, members of the Iraqi parliament for the "new Arab" that the step indicates the weakness of institutions in the country to the extent that the government and parliament not aware of the new model of the currency only after it was issued.



A member of the Iraqi parliament , Asaad al - Abadi's "new Arab", " The Governor of the Central Bank violated the law twice the first put his name on the new Iraqi currency, and the second that the law requires the bank to notify the Ministr of finance
,
the
legislative, executive and regulatory institutions , such a move as stipulated in articles 32 And 33 of the law of the Central Bank of Iraq for 2004, so this error must be addressed, and is currently being developed frameworks and axes to open the case and discussed in the parliament and take decisions


On the part of the member of the Interim Finance Committee in the Iraqi parliament Alia Nassif, the "new Arab", that "there Law The governor and the central bank must be adhered to and there is no provision in the law indicates that the name of the governor may be added to the currency in addition to signing.

"Therefore I wish that the Governor of the Central Bank would not go in this direction because the perpetuation of the name shall be the work and the disengagement of the Central Bank of the existing pollutants either in the currency or the opening of private (private) banks absurdly ... These are the acts that perpetuate and not the name in the banknote, Nassif.

for his part, MP said the national coalition Raad Aldhlki, for "new Arab", he said that if there were a real state of institutions there was a transparent debate on this subject with specialists in this field in order not to fall into these obstacles which we hope will not be negative repercussions on the people Iraqi and not be paid for through the worsening ofliving.

Aldhlki explained that " The Iraqi parliament will issue a clear and explicit decision by themeeting, on Thursday, what he sees fit to contain this and treat. "

Meanwhile, the Iraqi financial expert said Ahmed al - Hamdani for" new Arab "

Al-Hamdani pointed out that the Iraqi currency is printed in Switzerland and the state costs large amounts in hard currency and can be considered as a net now because withdrawing or destroying it means losing large amounts of money to Iraq, but at the same time the central bank governor and its board should be held accountable not only for the currency but also for charges and defaults Many people talk about, from specialists and observers since the transformation of one of the most important positions in the Iraqi state from the position of Mali to another political, according to his saying.



https://www.alaraby.co.uk/economy/2018/10/10/%D8%A3%D8%B2%D9%85%D8%A9-%D8%AF%D9%86%D8%A7%D9%86%D9%8A%D8%B1-%D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82-%D8%AA%D8%AF%D9%81%D8%B9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%84%D9%81%D8%AA%D8%AD-%D9%85%D9%84%D9%81%D8%A7%D8%AA-%D9%86%D8%B2%D9%8A%D9%81-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9