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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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    A government advisor clarifies Sudani's words about Iraq's distorted trade

    Rocky
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    advisor - A government advisor clarifies Sudani's words about Iraq's distorted trade Empty A government advisor clarifies Sudani's words about Iraq's distorted trade

    Post by Rocky Thu 20 Apr 2023, 4:51 am

    [rtl]A government advisor clarifies Sudani's words about Iraq's distorted trade[/rtl]

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    [rtl]Baghdad-Iraq today:

    The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, that the Prime Minister Muhammad Shia' al-Sudani's indication that Iraq's trade is distorted due to money laundering and smuggling put points on the letters in Diagnosing private sector financing, while pointing out that the electronic platform for external transfer It has become the most important reform tool in combating the flow of illegal funds. 

    Saleh said in a statement, "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 banking requirements and its legal and digital systems, which Include improving its performance in compliance and introducing modern financial technical systems in a technological age.” accelerating, enabling him to establish international banking relations and provide risk-free commercial credit with his network of correspondents from international banks. 

    He added, "The banking system also overcame factors left over from decades of wars, boycotts, blockades, and economic and institutional decline. Therefore, 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, diversity in banking violations, and breaching the law, including Cross-border money laundering crimes by facilitating the trade finance system, which is based on facilitated external transfer. 

    He continued, "Also, 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. [/rtl]
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