Iraq Central ..alpennek performs its assessment of banks on combating money laundering

Iraq Central ..alpennek performs its assessment of banks on combating money laundering



BAGHDAD - The Journal News

The Information Office "Iraqi Central Bank director of" Acer Jabbar, in a statement announced that the Central Bank of Iraq completed the periodic evaluation of the banks operating in the country in terms of its compliance with anti-money rules and instructions of the external conversion adopted by the Bank since 1/1/2017 according to the standards have been developed in consultation laundering law with the Office of international scrutiny.

The application of those standards has led to a significant stimulus for banks to create configurations and the application of new rules as well as the use of international offices specialized for the development of banking procedures, the program applied by the central bank and received according to the statement, praise from the international financial institutions to the achievements of effective high transparency in the information and data required to control banks provided to promote and document conversion processes.

The Central Bank regularly reviews the banks re-evaluated according to the indicators of adherence to standards, and the bank allowed banks by making observations on the steps of the evaluation, and consideration by a committee of the highest levels in the bank and to correct any paragraph bank proves its maturity.

The statement added that "the bank would like to mention that he performed this work to have been placed sell the currency on the basis of legal rules and according to precise criteria" window from "role in strengthening oversight and supervision, which pledged by the Bank's board in front of the Finance Committee in the House of Representatives before implementation of the plan, which in turn, praised the new procedures in this regard. "

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Central Bank announces the completion of the periodic evaluation of public banks in the country


14:46 - 06/02/2017


Announced that the Information Office of the Central Bank of Iraq Jabbar, director of Acer, on Friday, the completion of the periodic evaluation of public banks in the country.

Jabbar said in a statement received by the agency / information / copy of it, "the Central Bank of Iraq completed the periodic evaluation of the banks operating in the country in terms of its compliance with anti-money rules and instructions of the external conversion adopted by the Bank since the beginning of this year, according to the standards have been developed in consultation with the Office of Auditing Laundering Law international".

He added that "the application of those standards led to a significant stimulus for banks to create configurations and the application of new rules as well as the use of international offices specialized for the development of banking procedures, and received the program applied by the Central Bank of praise from the international financial institutions to the achievements of effective control and high transparency in the information and data that requires banks provided to promote and document conversion processes. "

He explained Jabbar, that "the Central Bank Athom periodic review of the re-banks evaluated according to the indicators of adherence to standards, the Bank has allowed banks by making observations on the steps of the evaluation and consideration by a committee of the highest levels in the bank and to correct any paragraph prove the bank entitlement to it."

He noted that "the bank would like to complete this work to have put the sale currency on the basis of legal rules and according to precise criteria from its role in strengthening oversight and supervision of the window." Finished / o 25

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Experts affirm: central bank measures behind the decline in money laundering


 Baghdad / Zahraa Al-Jassem


The central bank revealed a recent decline in the money rampant seriously in recent years laundering operations, noting that, of the most important reasons that led to this, the training of bank personnel and the withdrawal of licenses a number of exchange companies, and international cooperation to curb money laundering, while experts say in economic affairs, that the agreements entered into by Iraq with international financial organizations as a fund cash and the World Bank, effectively contributed to the reduction of money laundering operations, and the legislation of funds and measures the central bank tightened laundering law, including on the window sell the currency, the added factors that led to control over my work S money laundering.
Economic expert Majid picture, pointed out in an interview (range), that all the measures taken have led to the decline and not eliminate the phenomenon of money laundering, and the measures taken by the Central Bank to close more than 100 companies for their cooperation in money smuggling, terrorism and money - laundering, achieved the positives too many at the level of decline in these operations, and said: the crackdown on the sale of the currency imposed by the central bank window was too many have contributed to reducing the money laundering process, which led to the control of the currency in the Iraqi market, where the US dollar dropped from 1300 to 1,200 dinars, in addition to the Tight with regard to the monitoring of compliance, internal audit and capital and to stress the need to follow all the instructions and regulations issued by the Central Bank and make a basic criteria for entering the currency selling the whole window led to the adjustment in the market initially was not bad Bh.oitapa the picture saying: On the other hand procedures, the cooperation that took place between the central bank and other government agencies and international institutions, particularly the international Monetary Fund and the World Bank, all led to this result, there are agreements now exist to follow the movement of capital in agreement with various international bodies, especially since Britain Bafatt Recent Rh, expressed their cooperation with regard to the prosecution of money - laundering operation in Britain itself, adding: that the money laundering process can not be eliminated even in major countries, but can be controlled with the cooperation of all local and international bodies, and we in Iraq do not have today, stats minutes in the size of the sums of money - laundering operations.
Sees economic expert on behalf of Antoine, in an interview with (range), to money laundering , which was issued before the law and to activate the role of the Audit Department on the foreign exchange in the central bank and matching lists of incoming and emphasis Alkmarki and control of banking offices, it has curtailed the role in money laundering operations and halted part including, stressing that, if the censorship continues in this way with international coordination with the United States and the international Monetary Fund and the neighboring countries, there will be a large - scaled for this operation in Iraq.
Antoine continues noting: that money laundering and fraud in general operations in Iraq, were not in this way that the censorship was a list but weak, and the fear that the money laundering operations are in favor of terrorism and the financing of terrorist operations, so recently intensified controls to prevent this process in Iraq, indicating that, wash multi - money operations, including what would be through the introduction of drugs and the introduction of goods and commodities prices are not real to her, and get money from entering the irregular include prostitution and smuggling, drugs and graft from the sale of arms, with members selling sex trafficking, women and others, all this Its entry is irregular which are not subject to income tax are types of laundering Alomwal.okan central bank adviser Walid Idi, has between in a press statement that " the Iraqi Central Bank monitors extensively precautionary measures on combating money laundering file, and the financing of terrorism as a scourge must be combated, and there is broad international cooperation on combating money laundering and the financing of terrorism in Iraq and the world level, adding that " the nature of the Iraqi regime (cash), so we find that the volume of money laundering few compared with other countries, especially since the central bank in cooperation with the chock, trail the banking sector employees to fight g For money and the financing of terrorism, the fact that the banking sector is the biggest target of these operations. " He pointed at the conclusion of his speech, that the central bank to withdraw licenses exchange companies located in the areas of conflict, for fear of its operations for the financing of terrorists, which in turn cut the road in front of them.
The money laundering hot global topics, and working governments and security agencies , financial institutions, and banking in particular, to combat it , because it poses a serious threat to global peace and security, known as money laundering or money laundering economically as, " the transfer of funds resulting from the practice of non - activities the legitimacy of the funds has the appearance of a proper legal , especially in terms of sources, as legally defined as, "accepting deposits or funds derived from the work of illegal or criminal, and to hide their origin, or cover them up , or helping any person who is a principal actor or partner in that work drop results ful Anonah to do.


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