Member in Parliamentary Finance: The state is the losing party in the currency auction

Baghdad Today – Baghdad

A member of the Parliamentary Finance Committee, Jamal Cougar, said Friday (September 11, 2020) that the state is the losing party in the currency auction as a result of not stopping corruption and reorganizing the currency sale, he said.

Cougar said in an interview with him (Baghdad Today), “There are a lot of thefts that happen when the federal funds are transferred to the local budgets of the provinces, and we find there are dozens of fake projects or exaggerated exchange doors.”

He added that “there are those who do not want to stop or end the corruption operations in state institutions or in the auction process,” noting that “the government has so far not been able to stop those suspicious transactions that occur in the currency auction or is working to reorganize the sales.”

Cougar stressed that “reorganization will give the state great profit opportunities, which will lead to the flow of money into the state treasury, but in the current situation the state is the loser.”

A member of the Parliamentary Finance Committee, Abd al-Hadi al-Saadawi, revealed, on Tuesday (June 2, 2020), that there were suspicions of corruption hovering around the work of the foreign currency auction.

Al-Saadawi said in an interview with (Baghdad Today), “There are funds sold in the currency auction without supervision and allow for major corruption operations. Therefore, it is possible that the Prime Minister, Mustafa Al-Kazemi, according to his powers, monitor the window of currency sale and hold the negligent accountable.”

He added that “Al-Kazemi does not have the powers to cancel the auction of selling the currency, as it is a window of the central bank in order to obtain the local currency as well as import goods.”

He stressed that “the prime minister has the power to restrict the auction process and does not have the right to cancel it.”

Note the right to restrict or cancel huge