Since 2017-09-18 at 13:30 (Baghdad time)
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Private - Mawazine News
Economist Dhargham Mohammed Ali said Monday that the weakness of the regulatory system and the absence of binding laws that reveal the financial assets of political parties led to the occupation of Iraq in the first place in the field of money laundering, in addition to the unlimited flow of currency entry and exit through the informal outlets.
"Despite the parliament's vote on the anti-money laundering law and the adoption of the old banks and the central bank in theory, the law is weak in Iraq, the influence of the political parties and the absence of laws to disclose their financial liabilities and weak supervision of project financing," Ali said in an interview with Mawazine News. Made Iraq a fertile environment for money laundering and laundering, in addition to involvement in the financing of terrorism and provide financial grounds for him. "
Ali added that "the unlimited flow of currency entry and exit through the non-official and non-bank outlets because of the lack of control of the border crossings completely makes Iraq a fertile environment for laundering and money laundering."
Iraq ranked first in the index issued by the Basel Institute of Governance in the sixth annual edition as the most dangerous country on the Arab and global levels in the field of money laundering.
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