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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


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

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Established in 2006 as a Community of Reality

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    Counselor Mazhar Saleh: The electronic platform will combat the flow of illegal funds

    Rocky
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    Counselor Mazhar Saleh: The electronic platform will combat the flow of illegal funds Empty Counselor Mazhar Saleh: The electronic platform will combat the flow of illegal funds

    Post by Rocky Wed 19 Apr 2023, 9:46 am

    [size=38]Counselor Mazhar Saleh: The electronic platform will combat the flow of illegal funds[/size]


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    April 19, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk Al-Hadath: The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the indication of the Prime Minister, Muhammad Shia' al-Sudani, that Iraq's trade is distorted due to money laundering and smuggling, put points on the letters in diagnosing private sector financing.
    Saleh said that the Prime Minister put points on the letters in highlighting the problems of financing private sector trade that were born from the wreckage of a banking system that was isolated internationally and lacked the requirements of banking and its legal and digital systems, including improving its performance in compliance and introducing modern financial technical systems in an accelerated technological era with what it can From establishing international banking relations and providing risk-free commercial credit with its network of correspondents from international banks.
    He added: Likewise, the banking system in overcoming factors left over from decades of wars, boycotts, blockades, and economic and institutional decline, so the facilitation of external transfer during the last two decades under the pretext of financing foreign trade for the private sector was the easiest path in strengthening opportunities for economic crime and diversity in banking violations and breaching the law, including Cross-border money laundering crimes by facilitating the trade finance system, which is based on soft foreign transfer.
    He continued: Likewise, the banking system was unable to return to the traditions of financing civil trade, which requires opening documentary credits with the network of correspondents from international banks, except by a small percentage that does not exceed 5%, which is a low percentage compared to (colored) documentary transfers with their impure information, which concealed their problems with the outside world. In addition to the damage to the national economy under the pretext of financing trade in foreign goods and services.
    And Saleh continued, and with this, the electronic platform for external transfer has become today the important reform tool in combating the corrupt flow of illegal funds and an opportunity to improve banking performance with high competitiveness at the same time, in a manner that serves the interest of the citizen and the national economy at the same time.
    The Prime Minister confirmed Monday, during an interview with a number of television stations, that Iraq's trade is distorted due to money laundering and smuggling, in addition to the lack of reliability in the banking system.
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