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Parliament: joining CBI auction network for reducing corruption


28 Jan 2013
Member of the Committee praise the economy and investment Deputy/Kurdish blocs Coalition Jassim Mohammed Hussein, a step the Central Bank of connecting the auction for selling hard currency electronically with the Bank institutions and the Ministry of finance and the General Administration of taxes will decrease corruption and will support the national currency in the country. Hussein said that the modern technology when applied correctly and in accordance with the modern international mechanisms would decrease red tape prevalent all boring State services and will give support to the national currency and the Central Bank’s work for it shortened time and complete transactions as soon as possible. He also added that the baking and financial services’ growth with the latest technology for maintaining speed with the growth in international banks and financial institutions for contributing to the support and development of the national economy. It was announced by the Central Bank that on the implementation of electronic connectivity steps to daily foreign currency auction information between the Bank and the Ministry of finance and the General Commission for taxes. The Central Bank held five conferences weekly auction for buying and selling foreign exchange, earns a Commission on the sale of cash and money orders in the amount of about 13 dinars per dollar. Source: [IKH News]
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