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Established in 2006 as a Community of Reality

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Integrity: the central bank has not taken action against companies that violate laws and regulations

rocky
rocky
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Integrity: the central bank has not taken action against companies that violate laws and regulations Empty Integrity: the central bank has not taken action against companies that violate laws and regulations

Post by rocky on Sun 19 Jan 2020, 1:25 am


Integrity: the central bank has not taken action against companies that violate laws and regulations

10:03 - 01/19/2020



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The information / Baghdad ..
The Prevention Department at the Integrity Commission disclosed, on Sunday, its report regarding the resettlement of the salaries of state employees and contracting with electronic payment companies, calling on the central bank not to grant a license to these companies except after verifying the availability of all requirements, especially with regard to the management of anti-money laundering and terrorist financing operations.
And the department recommended, in a report, which it had seen / the information on, about the visits made by its team to the Central Bank and the Rafidain and Al-Rasheed banks, “The central bank suspended the license and canceled it against the companies that prove its default based on its powers stipulated in the electronic payment services system No. ( 3 for the year 2014), after which the authority specialized in the subject of electronic payment.
The report, a copy of which was sent to the General Secretariat of the Council of Ministers and the Parliamentary and Integrity Committees and the offices of the Minister of Finance and the Governor of the Central Bank, “The central bank obliges banks to provide customers with IBAN numbers as the localization account is an ongoing account to complete withdrawals and deposits and to remain on the same account After referring the employee to retirement, ”he explained,“ it is the responsibility of the Banking Control Department at the Central Bank to provide the Money Laundering Bureau with suspicion reports regarding money laundering and terrorist financing, so that the office in turn takes the necessary measures. ”
And the report monitored, “The Ministry of Education and the Interior did not implement the content of Cabinet Resolution No. (281 of 2018) which included the employee’s right to choose a bank accredited to the Central Bank in the process of localizing salaries after circulating offers of not less than (10) banks operating in the Emiratization system,” He called on the General Secretariat of the Council of Ministers to "emphasize the ministries of the need to adhere to this."
The report indicated, “Failure of banks linked to the National Divider to Central Bank instructions to increase the number of ATMs and to provide at least one ATM per (1000) cards issued by the bank, in addition to the central bank not taking the necessary measures against a smart card company For violating work in accordance with the laws and regulations in force throughout its years of operation, bearing in mind that the company deals with more than five million citizens, in addition to another company opening accounts without listing accounting restrictions that support what is included in the financial position; Assets for the purpose of b P ".anthy / 25


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rocky
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Integrity: the central bank has not taken action against companies that violate laws and regulations Empty The central bank will not be blackmailed

Post by rocky on Sun 19 Jan 2020, 1:45 am

 The central bank will not be blackmailed

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From time to time some social media outlets and some yellow channels owned by people whose orientations and purposes are poorly intended to offend national economic institutions that have clear success experiences and work with competent Iraqi national cadres come out to us.
And that these channels are driven by special interests inside and outside Iraq, and they say that they are paid for, and they are always hunting with murky water and targeting our national economy and its institutions that have made clear achievements during the economic and security shocks that Iraq passed after mid-2014 and contributed to achieving economic resilience and supported our national economy. Trumpets and their press and media reports targeting the central bank on recurring and consuming topics, and that the aim of ruminating them from time to time is personal projection, public extortion, and coverage of the accomplishments achieved during the past five years.
So why target? The reason, as I see it, is that the central bank insists on the need for all relevant parties to carry out its daily work internally and externally to adhere to the instructions, controls and regulations that maintain economic stability in the country, which will lead to fighting corruption and the smuggling of the dollar abroad and maintain the strength of the Iraqi dinar and the stability of the exchange rate and building the national economy properly.
Although I respect the other opinion that is issued by non-specialists or from economists and monetary policy in particular, but I may disagree with the opinion that attempts to dwarf, minimize and personalize the achievements made by the central bank in facing the economic and financial crisis during the past years, which is the most difficult stage Iraq has gone through.
Therefore, I invite these people to consider, even once, to preserve the reputation of the Iraqi economy and its distinguished institutions, because it is not logical to allow a well-known Arab media channel against the economic steadfastness and monetary stability in Iraq that has not been achieved in countries that have gone through circumstances similar to what Iraq is going through.
Assigning accusations to the central bank and damaging Iraq’s economic reputation internationally without clear evidence or facts and without anyone being held accountable.
These parties are known before others through the evidence and achievements that the Central Bank of Iraq has proven to be the first economic institution through its important achievements in supporting the national economy and achieving economic resilience and seeking to achieve economic stability in accordance with its strategy drawn up to the year 2020.
 The important thing that has been achieved is the stability of the exchange rate and the reduction of the gap between the official price of the US dollar and the parallel price, which is a basic goal of monetary policy and the application of policies to restore confidence in international banking transactions of Iraqi banks with Arab and foreign banks and strive to build a solid and solid banking sector.
In conclusion, I invite these people, leave the successful economic institutions to work with high effort and double efforts for Iraq, and they are interested in addressing your economic and banking problems in your countries because the Central Bank of Iraq and the Iraqi banking sector will never undergo blackmail.
* Financial and banking consultant

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