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Tishwash:  Specialists: The currency auction is a drain on the dollar and a great profit opportunity for influential parties

The Iraqi government places great emphasis on economic issues, by working to control border crossings, fight corruption, dismantle the influence of armed factions on financial outlets, and strengthen local industry through these files, all of which pass through the central bank’s gate, specifically, the so-called currency auction, the most controversial file in years.

In the past, where the Parliamentary Finance Committee accuses the Central Bank of exploiting its powers as an “independent body” in not dealing with the problems that the legislative and executive authorities raise.

The basic idea of a currency auction revolves around selling dollars to private banks and money transfer companies to manage the import of goods, and its daily sales of dollars reach one hundred and eighty million dollars, but several suspicions affect influential political figures standing behind those banks to manage corruption operations.

Economists described the currency auction as a drain on the dollar and an opportunity for some banks owned by influential parties to achieve large profits.

According to estimates, the sale of the Central Bank exceeded five hundred billion dinars in its daily operations that have continued since the year two and three.

The specialists believe that the problem that the Iraqi economy is suffering now is a problem of policies and not a problem of resources, as the country suffers from the lack of political and security stability, which impedes development and taking decisions regarding it.

They emphasized that confidence in the Iraqi dinar began to wane, and that the instability of internal and regional conditions led to an increase in the demand for the dollar.  link