Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality

I would like all Members and Guest to view CryptoTravel.biz as this is my company I promote.




Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2019


Compliance in the banking system

rocky
rocky
NNP TEAM
NNP TEAM

Posts : 176281
Thanked : 11452
Join date : 2012-12-21

Compliance in the banking system Empty Compliance in the banking system

Post by rocky on Sun 10 Nov 2019, 3:50 am

Compliance in the banking system


[You must be registered and logged in to see this image.]

Saturday 09 November 2019

Haidar Kazem Al-Adhari 
Banks are committed to applying the most important international and local compliance standards, developing policies and procedures and organizing an appropriate guide with a dynamic approach as the situation prevails.
The function of the Compliance Department is to ensure that banks comply with all laws, regulations and circulars issued by the Central Bank of Iraq and government agencies in Iraq and abroad as international institutions, which determine the provision of advice and guidance and monitor and report to the Compliance Committee and the Board of Directors. On the extent of compliance in the Bank and compliance monitoring instructions as stated in Article 71.
The Compliance Department has a scope of work to determine the organizational structure of the compliance unit and the roles and responsibilities of its staff in the department, and is keen to ensure that the Bank complies with all the legislative and regulatory requirements issued by the Central Bank of Iraq and the relevant regulatory bodies, Also ensure that the bank complies with the bank's internal business procedures, which are relevant to the compliance function, ensure appropriate oversight and periodic reporting of the work of the compliance unit within the bank.
He is also keen to send quarterly reports to the Central Bank on time and is keen to follow the work of all sections in the specified bank and know the work of those departments, in the correct form, and the department will review the account files that have been opened in the bank in order to ensure the correct implementation of the policy (Know Customer 
(kyc)).
Compliance is responsible for monitoring and directing bank credits and protecting public deposits in the bank, as well as protecting shareholders' rights, and the bank is keen to participate in all courses held at the Central Bank and the Association of Iraqi Banks, and to send Bank employees to these courses for the purpose of obtaining regular training and the compliance department has a daily follow-up with the Money Laundering Unit of The Islamic World Bank to ensure the safety of the funds entering the bank and to take due diligence procedures and these funds are from a known source and are there. This proves the validity of these funds to prevent the use of the Bank's activities for money laundering and terrorist financing.
 

[You must be registered and logged in to see this link.]
weslin3
weslin3
Interacting Investor
Interacting Investor

Posts : 7148
Thanked : 2071
Join date : 2012-12-19

Compliance in the banking system Empty Re: Compliance in the banking system

Post by weslin3 on Sun 10 Nov 2019, 8:14 am

So is CBI now out of the 2% compliance??
avatar
azareus
All In Investor
All In Investor

Posts : 1226
Thanked : 432
Join date : 2012-12-20

Compliance in the banking system Empty Re: Compliance in the banking system

Post by azareus on Sun 10 Nov 2019, 9:04 am

Yes
weslin3
weslin3
Interacting Investor
Interacting Investor

Posts : 7148
Thanked : 2071
Join date : 2012-12-19

Compliance in the banking system Empty Re: Compliance in the banking system

Post by weslin3 on Sun 10 Nov 2019, 9:17 am

[You must be registered and logged in to see this link.] wrote:Yes
That's what I was thought.. Hope not to have to wait another 90 days to bring into compliance.
avatar
azareus
All In Investor
All In Investor

Posts : 1226
Thanked : 432
Join date : 2012-12-20

Compliance in the banking system Empty Re: Compliance in the banking system

Post by azareus on Mon 11 Nov 2019, 12:11 am

we will see weslin. Hopefully not

Sponsored content

Compliance in the banking system Empty Re: Compliance in the banking system

Post by Sponsored content


    Current date/time is Thu 12 Dec 2019, 11:21 pm