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Parliamentary Committee: The reason for smuggling money and money laundering is the lack of an effective banking system
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The Parliamentary Finance Committee attributed the reason for [You must be registered and logged in to see this link.] money and laundering it to the absence of an effective banking system.
Member of the Committee, Representative Jamal Cougar, said: The [url=https://www.thebaghdadpost.com/ar/Story/t/44763/%D8%A7%D9%84%D8%A7%D9%85%D9%88%D8%A7%D9%84 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9]Iraqi money[/url] smuggled abroad or that went out illegally or entered the field of money laundering, is large, but it is not estimated at 500 billion dollars as circulated by some media.
He added: Iraq can recover its smuggled money provided that there is a will for the Iraqi government to recover it, because the countries deal with countries and not with people or institutions, especially in the matter of money recovery, as well as it needs to follow the final accounts of the budgets of past years and know what was spent, the size Revenue and studying the reports of the Financial Supervision Bureau. Noting: Iraq has not completed the final accounts since 2009 until now.
He continued: The judiciary must move the files in the Integrity Commission and activate it, to issue judicial decisions to recover the smuggled money and the party in which the money is located, in order to activate the file. Stressing the need to coordinate with the International Police (Interpol) after the implementation of judicial decisions to recover smuggled money.
He added: The main reason for the increase in money laundering, money laundering and smuggling operations is the lack of an effective banking system that monitors the movement of any dollar from one location to another. Pointing to the necessity of establishing an effective Iraqi banking system that monitors and mobilizes funds, and transfers them from one place to another to limit smuggling.
He pointed out that Iraq joined the international agreement to combat financial and administrative corruption for the year 2005, and this agreement can be activated by moving the files of integrity through the United Nations and the International Security Council for the purpose of recovering all [url=https://www.thebaghdadpost.com/ar/Story/t/44763/%D8%A7%D9%84%D8%A7%D9%85%D9%88%D8%A7%D9%84 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9]Iraqi money.[/url]Contraband and found in international banks. Noting: During the previous sessions, Parliament legislated the laws of Iraq's accession to international agreements, and did not benefit from them.
He explained: Iraq is affiliated with a large number of international organizations and international institutions, and pays annual contributions, but it has not benefited from these organizations in supporting the public interest of the country.
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Parliamentary Committee: The reason for smuggling money and money laundering is the lack of an effective banking system
[size]The Parliamentary Finance Committee attributed the reason for [You must be registered and logged in to see this link.] money and laundering it to the absence of an effective banking system.
Member of the Committee, Representative Jamal Cougar, said: The [url=https://www.thebaghdadpost.com/ar/Story/t/44763/%D8%A7%D9%84%D8%A7%D9%85%D9%88%D8%A7%D9%84 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9]Iraqi money[/url] smuggled abroad or that went out illegally or entered the field of money laundering, is large, but it is not estimated at 500 billion dollars as circulated by some media.
He added: Iraq can recover its smuggled money provided that there is a will for the Iraqi government to recover it, because the countries deal with countries and not with people or institutions, especially in the matter of money recovery, as well as it needs to follow the final accounts of the budgets of past years and know what was spent, the size Revenue and studying the reports of the Financial Supervision Bureau. Noting: Iraq has not completed the final accounts since 2009 until now.
He continued: The judiciary must move the files in the Integrity Commission and activate it, to issue judicial decisions to recover the smuggled money and the party in which the money is located, in order to activate the file. Stressing the need to coordinate with the International Police (Interpol) after the implementation of judicial decisions to recover smuggled money.
He added: The main reason for the increase in money laundering, money laundering and smuggling operations is the lack of an effective banking system that monitors the movement of any dollar from one location to another. Pointing to the necessity of establishing an effective Iraqi banking system that monitors and mobilizes funds, and transfers them from one place to another to limit smuggling.
He pointed out that Iraq joined the international agreement to combat financial and administrative corruption for the year 2005, and this agreement can be activated by moving the files of integrity through the United Nations and the International Security Council for the purpose of recovering all [url=https://www.thebaghdadpost.com/ar/Story/t/44763/%D8%A7%D9%84%D8%A7%D9%85%D9%88%D8%A7%D9%84 %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9]Iraqi money.[/url]Contraband and found in international banks. Noting: During the previous sessions, Parliament legislated the laws of Iraq's accession to international agreements, and did not benefit from them.
He explained: Iraq is affiliated with a large number of international organizations and international institutions, and pays annual contributions, but it has not benefited from these organizations in supporting the public interest of the country.
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