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


What is bank savings? (cartoony film on banking )

rocky
rocky
NNP TEAM
NNP TEAM

Posts : 180470
Thanked : 11637
Join date : 2012-12-21

What is bank savings? (cartoony film on banking ) Empty What is bank savings? (cartoony film on banking )

Post by rocky on Mon Jan 13, 2020 4:11 pm

What is bank savings?  cartoony film on banking 



Jan 12, 2020
 


What is bank savings?

The Central Bank of Iraq presents to our dear children a cartoony film on banking input for the purpose of increasing the culture and awareness of children in this field

enjoy watching

information Office
The Central Bank of Iraq


at link

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



[size=16][size=18]Translation.....[/size][/size]


[size=16][size=18]Supervisory Action Manual The requirements mentioned in (Instructions) of the
[/size]
[size=18]Central Bank of Iraq..[/size][/size]

[size=16][size=18]Based on the period and from Article 18 of the Banking Law, No. 94 of 2004, and Article 71[/size]
[size=18]of the Instructions to Facilitate the Implementation of the Banking Law No. (4) for the[/size]
[size=18]year 2010 and as part of the Central Bank of Iraq’s ongoing efforts to develop oversight[/size]
[size=18]of Iraqi banks, and to promote good practices at Those banks, the Central Bank of Iraq[/size]
[size=18]decided to be guided by the international banking practices that were adopted in light of[/size]
[size=18]the economic crisis that occurred in 2014 These instructions were issued instructions on[/size]
[size=18]compliance risks and compliance activity with them. And that the inspectors of the Central[/size]
[size=18]Bank of Iraq be convinced when informing them of the documents submitted by banks[/size]
[size=18]that they follow effective policies and procedures, and that their departments take[/size]
[size=18]appropriate corrective measures when those monitors diagnose their failures to comply.[/size]
[size=18]Compliance begins from the top of the bank’s pyramid represented by its board of[/size]
[size=18]directors, and this compliance is most effective in the culture of the institution (the bank),[/size]
[size=18]which stresses the standards of honesty and integrity, in which the board of directors[/size]
[size=18]and the executive management lead by example in exercising their leadership roles. All[/size]
[size=18]employees of the bank are obligated to comply, and it must be seen as an integral part[/size]
[size=18]of its business, and banks must adhere to high standards when they continue to carry[/size]
[size=18]out their business, and strive at all times to implement the applicable laws regulating[/size]
[size=18]their work. Failure to take these sources into account will affect the effect of their actions[/size]
[size=18]on their shareholders, customers, employees and the banking market, which may result[/size]
[size=18]in the spread of negative publicity from banks. And causing damage to its reputation, to[/size]
[size=18]a great degree, even if the banks had not broken any law due to their practices, which[/size]
[size=18]leads to instability of the financial system and its contradiction with the goal that the[/size]
[size=18]Iraqi Central Bank seeks truth based on the law.[/size][/size]

[size=16][size=18]Terminology Definitions Auto Compliance risk Compliance function OFF are legal or[/size]
[size=18]regulatory penalties, tangible (material) financial loss, or loss of reputation that a bank[/size]
[size=18]may suffer as a result of its failure to comply with the laws, regulations and instructions[/size]
[size=18]governing banking, issued by regulatory and supervisory authorities, | The relevant[/size]
[size=18]regulatory standards that the bank sets for itself is an independent function that[/size]
[size=18]evaluates the bank’s commitment to its operations | Daily banking for the requirements[/size]
[size=18]of relevant laws and instructions, ensuring the correctness of policies and procedures,[/size]
[size=18]and avoiding errors and violations that would expose the bank to various risks and in[/size]
[size=18]cooperation with other executive departments in the bank. Is the set of practical[/size]
[size=18]procedures that the compliance department of the bank performs. It is the department[/size]
[size=18]responsible for carrying out the compliance responsibilities of the bank. Compliance[/size]
[size=18]activity  The Compliance Department  Holding company is a joint stock or[/size]
[size=18]limited company that controls a company or joint stock or limited companies called[/size]
[size=18](subsidiaries) as stated in Resolution No. (17) for the year 2019 amending the Companies[/size]
[size=18]Law No. (21) for the year 1997.[/size][/size]

[size=16][size=18]First: Establishing the Compliance Department and its duties (on all government, private[/size]
[size=18]and banking groups) Establishing a Compliance Department to carry out compliance[/size]
[size=18]activity and include it in the organizational structure, and that that department sets an[/size]
[size=18]annual policy and procedures that are presented to the bank’s board of directors to vote[/size]
[size=18]on it and present it to The competent department in the Central Bank of Iraq is its[/size]
[size=18]reference and approval, and that the number of employees working in this section, and[/size]
[size=18]the size of the resources allocated to it, is appropriate to the size and diversity of the[/size]
[size=18]activities of banks and their branches. The Compliance Department makes an[/size]
[size=18]assessment of the extent of the bank’s compliance in its performance of its operations[/size]
[size=18]according to the following requirements Legal related: This section also confirms the[/size]
[size=18]validity of the political and procedures, and seeks to avoid making mistakes and[/size]
[size=18]violations of laws, regulations, and codes of professional conduct, applicable, and that[/size]
[size=18]will be exposed banking to various risks, in collaboration with all departments and units[/size]
[size=18]of other bank and Gifts that limit death to death (applicable to activities) Laws, rules[/size]
[size=18]and standards cover, in general, a fighter such as observing appropriate standards for[/size]
[size=18]the behavior of the banking market, avoiding conflicts of interest and managing them[/size]
[size=18]if they occur, practicing justice in dealing with customers, and ensuring the integrity of[/size]
[size=18]advice Provided for them, and includes specific areas, including when preventing money[/size]
[size=18]laundering and terrorist financing crimes, tax laws related to the structure of pure and[/size]
[size=18]applicable products. The bank that intentionally engages in financial or commercial[/size]
[size=18]transactions to use it less than customers to avoid regulatory requirements or financial[/size]
[size=18]reporting, evading tax obligations, or to engage in unlawful behavior that exposes the[/size]
[size=18]bank and the customer to significant consecutive risks - Various,  including the main[/size]
[size=18]legislation, rules and standards issued by legislators, controls and instructions issued[/size]
[size=18]by the Iraqi Central Girls, the norms of longing for victory and internal[/size]
[size=18]components of behavior applicable to professional employees and for the reasons that[/size]
[size=18]were denied above, and from pain Tire that all these infringe what is Vlzim Qanonia and[/size]
[size=18]develop standards of integrity and ethical conduct broader range[/size][/size]

[size=16][size=18]The Central Bank of Iraq is sweet to monitor the money "3) Compliance must be part of[/size]
[size=18]the bank’s culture, as this culture is not only the responsibility of the competent[/size]
[size=18]compliance staff. Banks should be able to manage all the risks to the bank, in a more[/size]
[size=18]effective way, if they put The subject of implementation is a representative activity that[/size]
[size=18]complies with the requirements of the incoming compliance, as indicated in Article III[/size]
[size=18]of these controls  4). It requires taking into account the volume of the bank’s[/size]
[size=18]business with the organizational structure of the compliance department. Pain Wharf[/size]
[size=18]active at the international level, compliance with local or international officials in the[/size]
[size=18]small section of fine bank compliance officers in one of the independent units in most[/size]
[size=18]areas of data banks Protection Section of the Department of Information Technology[/size]
[size=18]and Anti-Money Laundering and the Financing of Terrorism[/size][/size]

[size=16][size=18]9) Regardless of how the Compliance Department is organized within the knowledge, it[/size]
[size=18]must be independent, provide adequate resources, and clearly define its responsibilities,[/size]
[size=18]and that its activities are subject to periodic and mobile review by the bank's internal[/size]
[size=18]audit mentioned in paragraphs from ( 2-5) of Article (4) The requirements apply to all[/size]
[size=18]banks, including state-owned government banks, private banks, banking groups, and[/size]
[size=18]branches of foreign banks, and these requirements are taken into account when applying[/size]
[size=18]those requirements that depend on factors including the size of the bank and the extent[/size]
[size=18]of its business activities, and the degree Their complexity, geography extent Those works[/size]
[size=18]have reached, including the legal and regulatory framework through which it operates[/size]
[size=18]inside Iraq, and in other countries where the bank’s branches are located  Article III - The[/size]
[size=18]requirements of the Central Bank of Iraq for compliance activities with banks include a[/size]
[size=18]minimum of the following 1 - Responsibilities of the Board of Directors for compliance.[/size]
[size=18]The board of directors of the bank shall be responsible for overseeing the management[/size]
[size=18]of compliance risks to which the bank is exposed. He must agree to the compliance policy[/size]
[size=18]of the requester and this includes preparing an official document to establish[/size][/size]

[size=16][size=18]Compliance number) is permanent and effective in the bank, and the auto-compliance[/size]
[size=18]monitor is determined and its fees are determined. The investigation board issued by the[/size]
[size=18]Board of Directors must conduct an evaluation in an effective manner and present it to[/size]
[size=18]the Board of Directors at least once annually.  Responsibilities of the bank’s[/size]
[size=18]executive management of compliance: Submitting reports to the Board of Inquiry's[/size]
[size=18]investigation committee regarding assessment and management of compliance risks with[/size]
[size=18]the Central Bank of Iraq, at least once quarterly, and exceptional in the event of urgent[/size]
[size=18]risks arising, and the management must implement compliance policy, undertake an[/size]
[size=18]official It fails to ensure that the corrective or disciplinary action is taken, if any breaches[/size]
[size=18]are identified. The Compliance Supervisor shall immediately notify the Board of Directors[/size]
[size=18]or its sub-committee of any successive failures that entail significant risks of imposing[/size]
[size=18]legal or regulatory sanctions on the bank, or incurring financial losses and affecting its[/size]
[size=18]reputation). The reports prepared by the Director of the Compliance Department[/size]
[size=18](Compliance Monitor) must be accurate, timely, and comprehensive in terms of the[/size]
[size=18]strengths and weaknesses of the conductor’s compliance practices: they must be under[/size]
[size=18]strictly any professional risks, financial violations, and other violations. Exposure of the[/size]
[size=18]bank to significant risks[/size][/size]

[size=16][size=18]Article Four:. Requirements for Compliance Department The Compliance Department of[/size]
[size=18]the bank must be independent in terms of functional, administrative and technical[/size]
[size=18]aspects. The concept of independence depends on four elements related to this[/size]
[size=18]independence, namely: - That the Proverbs Department have an official character[/size]
[size=18]within the bank to appoint a compliance observer, who has overall responsibility for[/size]
[size=18]coordinating compliance risks The bank has the obligation not to assign the personnel[/size]
[size=18]of the ward department, in particular the compliance monitor, in a position where[/size]
[size=18]conflicts of interest may occur between their exceptional responsibilities and the work[/size]
[size=18]of the accountant assigned to it. [/size][/size]

[size=16][size=18]And that compliance department staff have access to information and access[/size]
[size=18]to employees, in order to fulfill their responsibilities 2. The bank must obtain the approval[/size]
[size=18]of the Central Bank of Iraq to appoint and dismiss the compliance observer by decision [/size]
[size=18]3. The executive management of the bank must notify the board of directors that the[/size]
[size=18]proverbs observer will assume his duties or leave his position, and if the compliance[/size]
[size=18]auditor leaves his position, he must also inform them of the reasons for leaving those[/size]
[size=18]duties. With regard to the branches of banks operating at the international level, which[/size]
[size=18]have local officials for compliance, the Central Bank of Iraq must be notified that the[/size]
[size=18]Proverbs Observer will assume the functions of his job or leave it  4 that the[/size]
[size=18]bank’s Compliance Department have sufficient and appropriate financial and human[/size]
[size=18]resources and that those resources that should be provided for an activity Compliance[/size]
[size=18]is adequate and appropriate in order to ensure the compliance risk management with[/size]
[size=18]the bank to carry out its work effectively, and the compliance activity staff must have[/size]
[size=18]the qualifications, expertise and professional and personal characteristics, to be familiar[/size]
[size=18]with the laws and regulations in force[/size][/size]

[size=16][size=18]5 - The employees of the compliance function possess the necessary national skills - with[/size]
[size=18]regard to keeping abreast of developments in compliance procedures, rules and[/size]
[size=18]standards, by holding educational and training sessions organized for them, on a regular[/size]
[size=18]basis 6 - The responsibilities of the compliance activity at the bank must aim to assist[/size]
[size=18]the executive management In managing compliance risks, which the bank faces[/size]
[size=18]effectively; the responsibilities of the compliance activity are defined according to these[/size]
[size=18]controls and if some of these responsibilities are performed by employees working in[/size]
[size=18]different departments, then the distribution of responsibilities to each department should[/size]
[size=18]be specified. Clarity. These responsibilities include: advice. MODE) guidance and[/size]
[size=18]education. Identify, measure and assess compliance risks. Monitoring, testing and[/size]
[size=18]reporting risks.[/size][/size]

[size=16][size=18]o. Legal responsibility, auto-contact and coordination with relevant external parties,[/size]
[size=18]regulators, standards holders and external experts are charged with upholding the[/size]
[size=18]responsibilities defined in the bank's compliance policy. That the scope and extent of[/size]
[size=18]the Compliance Department be subject to periodic review by EE-M. . The executive[/size]
[size=18]management of fate must supervise compliance department employees in professional[/size]
[size=18]development courses and roast the necessary amounts for that, in order to keep[/size]
[size=18]abreast of recent developments in the field of compliance, and when the Iraqi Central[/size]
[size=18]Construction evaluates the performance of the moderation department in any bank,[/size]
[size=18]it will take into account that these effects are part Regardless of the risk management[/size]
[size=18]in the banker  with relevant information and that the compliance department[/size]
[size=18]in the bank interacts and cooperates with the internal audit department with regard to[/size]
[size=18]relevance, in areas related to the evaluation of the bank’s performance[/size][/size]

[size=16][size=18]Banks must comply with the applicable laws and regulations in all areas of jurisdiction in[/size]
[size=18]which they carry out their business, and the organization and structure of the[/size]
[size=18]compliance department and its responsibilities should be coordinated with all legal[/size]
[size=18]requirements and compliance is one of the basic activities in risk management[/size]
[size=18]within the bank. Sources may be used to perform specific tasks related to the compliance[/size]
[size=18]activity, and those tasks and sources must remain subject to the effective supervision of[/size]
[size=18]the compliance department director. The bank and the company providing the services[/size]
[size=18]used by the bank, are still accountable to that bank.[/size][/size]

    Current date/time is Sat Jan 25, 2020 8:19 am