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The Iraqi government develop new regulations for finance transactions in hard currency

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The Iraqi government develop new regulations for finance transactions in hard currency

Post  Shilo on Mon May 17, 2010 6:22 pm

The Iraqi government develop new regulations for finance transactions in hard currency

17/05/2010 22:28


Baghdad, 17 May (Akaniwz) - The Iraqi government announced the outgoing, Monday, on the status of new regulations for foreign currency transactions in order to reduce smuggling to neighboring countries, with

The government consultant said Salam al-Quraishi told Kurdistan News (Akaniwz) that "the Iraqi government developed new regulations for foreign hard currency transactions between Iraq and some countries, and calculating the encrypted accounting system."

He explained that "many of the problems faced in the Iraqi government to facilitate the deal to work hard and the huge sums that could help the growing corruption in the country, especially in state institutions."

Qureshi added that "there are certain procedures will be followed by the financial supervisory agencies on the subject to reduce the smuggling money abroad, especially from some senior officials in the state."

He pointed out that "this proposal made by the Integrity Commission to adjust the amount of money smuggled out of Iraq," noting that "the issue of dealing with money of hard-currency government will seek to develop a law that defines how to handle them and how to drive massive amounts of money from Iraq to the outside."

Increased Quraishi said: "Such a topic would contribute effectively to preserve state funds and by raising the spoilers on it."

It is noteworthy that a number of senior officials accused of corruption have fled after converting their money into hard currency and was the last of those involved, an employee at the Municipality of Baghdad, who fled last February and then was arrested at the airport in Lebanon by Lebanese police, in cooperation with the Commission on Public Integrity.


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