The Central Bank explains the disappearance of large amounts of local currency

0
305
The Central Bank explains the disappearance of large amounts of local currency

On Saturday, the Central Bank of Iraq denied allegations that large amounts of Iraqi currency had disappeared and been smuggled to neighboring countries.

The Central Bank has issued a statement where it denies the accusations of large amounts of Iraqi currency being disappeared and smuggled to neighboring countries. The Bank clarified that the quantities of Iraqi money are printed in accordance with the needs of the economy and under strict standards.

According to him, the first issuance of Emaar bonds was fully subscribed and done in accordance with the needs of the Ministry of Finance and the General Budget Law.

He emphasized that the institution is the only one in Iraq that undergoes audits of its accounts and operations from four parties, namely the Financial Supervision Bureau, an international auditing company, a committee of external auditors, and the Internal Audit Department.

The Bank emphasized that accusing someone without providing evidence to back up the claim raises doubts about the accuser’s intentions and objectives of damaging the state’s economic interests. The Bank also stressed its legal right to take action against anyone who promotes such unfounded accusations.