The Parliamentary Finance Committee diagnosed, on Sunday, the cause of corruption in the currency auction, while it submitted a proposal to eliminate it.
“There are solutions to reduce corruption and not to end corruption, and there are treatments that can be invested in the interest of the Iraqi currency,” said a member of the committee, Ahmed Al-Hajj, in an interview with Al-Furat News.
He added that “the issue of selling the dollar by the central bank is supposed to take place by the Ministry of Finance, as it is the owner of the money from oil sales and others.”
He pointed out that “the existence of competition between remittance companies and banks and the distribution of which led to the currency auction being a window for corruption, and if we dealt with this issue, it will lead to the elimination of 60 percent of the corruption of currency sales.”
He explained that “among the treatments is the classification of private banks and linking the currency auction to the General Authority of Customs and the Registrar of Companies and Taxes, and thus we can eliminate 80 percent of corruption.”