The Financial Operations Of: Lifting All The Barriers Imposed On The Central Bank Of Iraq After Its Actions Against Money Laundering

[SnowGlobe7]

this is good right?

[Synopsis]

1 hour ago, gregp said:

 

Great heads up!! 

 

49 minutes ago, Wiljor said:

 

Thanks Synopsis, counting the day's brother, it's coming. 

 

Enjoy your weekend, Gentlemen!   

 

 

Well, OK, I put an extra one in there for Mr. Olivesman! I am hoping his humidor can afford him an extra one until I can present him with one of his choice in person!

 

Go Moola Nova (like before June 4 when Abadi said Iraq would be out of Chapter VII by)!!!

[olivesman]

3 hours ago, Synopsis said:

 

 

Enjoy your weekend, Gentlemen!   

 

 

Well, OK, I put an extra one in there for Mr. Olivesman! I am hoping his humidor can afford him an extra one until I can present him with one of his choice in person!

 

Go Moola Nova (like before June 4 when Abadi said Iraq would be out of Chapter VII by)!!!

 THANK YOU!  

 

[Synopsis]

2 minutes ago, olivesman said:

 THANK YOU!  

 

 

Thank You, OlivesMan! Hope You Have A Great Weekend!

 

[jcfrag]

4 hours ago, SnowGlobe7 said:

this is good right?

Looks like the name of the game here is for Iraq to continue selling USD with out all of the corruption still plaguing the process.  But I was under the impression that the goal was for Iraq to stop selling USD. I never have understood how the dinar is pegged to the dollar. Maybe America should peg its dollar to the Canadian dollar for stability and America could make butt loads of money from selling the Canadian Dollar! 

[olivesman]

38 minutes ago, Synopsis said:

 

Thank You, OlivesMan! Hope You Have A Great Weekend!

 

 

Will do! It's looking like a few TWO cigar days!

[Synopsis]

7 hours ago, olivesman said:

 

Will do! It's looking like a few TWO cigar days!

 

  

[MyLadiesDaddy]

[yota691]

 

Praised the "central" measures to control the currency window one hour ago Last updated 01:38 PM   445 Watch       BAGHDAD / Press tomorrow:  praised a specialist in the banking sector, the central bank 's recent actions on the classification of participation in the sale of foreign currency , which were in line with the demands of the International Monetary Fund and the World Bank window banks.  A source at the central bank's "Tomorrow 's Press", " The classification of the Central Bank of the banks participating in the foreign currency sale issued last week window came in accordance with the instructions of the International Monetary Fund and the World Bank in order to control the window," noting that " the global financial institutions praised the Bank 's procedures Central and it stressed the need not to retreat. "   He stressed that " the new classification of banks will make them offer new services and urged them to work properly and control the currency exit , " noting that " the central bank of banks , which occupied the last rank deportation of the window if not improve their position threatened."  The Central Bank of Iraq announced last Thursday, the completion of the periodic evaluation of the banks operating in the country in terms of its compliance with anti - money rules and instructions of the foreign exchange laundering law adopted by the Bank since the beginning of this year , according to the standards have been developed in consultation with the Office of international scrutiny that.  On the other hand, banker Mohammed Bahadli said, for "Tomorrow 's Press", said that " the Central Bank of evaluating an important step towards the development of the banking sector through the removal of the bad banks that aim to participate in the sale of currency window , " noting that "tightening measures will lead to the closure of many banks will remain the best banks. "  He noted that "international organizations have long been calling for the need to correct the course of selling the currency window , especially in the Iraqi negotiations with the International Monetary Fund and the World Bank."

[Big_J]

GM YOTA AND DV.

[ChuckFinley]

Thanks Yota. Things must be expensive over there, the only thing I see in all these photo are $100 bills. 

[Rockymtnhi]

On 6/2/2017 at 9:15 PM, jcfrag said:

Looks like the name of the game here is for Iraq to continue selling USD with out all of the corruption still plaguing the process.  But I was under the impression that the goal was for Iraq to stop selling USD. I never have understood how the dinar is pegged to the dollar. Maybe America should peg its dollar to the Canadian dollar for stability and America could make butt loads of money from selling the Canadian Dollar! 

Just the opposite.  The Canadian dollar  has dropped  substantially.  The USD has been showing some weakness lately but guess you missed the huge rise  in the USD the past 4yrs.

[jcfrag]

2 hours ago, Rockymtnhi said:

Just the opposite.  The Canadian dollar  has dropped  substantially.  The USD has been showing some weakness lately but guess you missed the huge rise  in the USD the past 4yrs.

Your right. I did miss it.... was so busy watching the dinar!  

[yota691]

04/06/2017 (00:01 pm)   -   Number of readings: 970   -  number (3940)

 

 

Experts affirm: central bank measures behind the decline in money laundering

 Baghdad / Zahraa Al-Jassem 
 

 

The central bank revealed a recent decline in the money rampant seriously in recent years laundering operations, noting that, of the most important reasons that led to this, the training of bank personnel and the withdrawal of licenses a number of exchange companies, and international cooperation to curb money laundering, while experts say in economic affairs, that the agreements entered into by Iraq with international financial organizations as a fund cash and the World Bank, effectively contributed to the reduction of money laundering operations, and the legislation of funds and measures the central bank tightened laundering law, including on the window sell the currency, the added factors that led to control over my work S money laundering. 
Economic expert Majid picture, pointed out in an interview (range), that all the measures taken have led to the decline and not eliminate the phenomenon of money laundering, and the measures taken by the Central Bank to close more than 100 companies for their cooperation in money smuggling, terrorism and money - laundering, achieved the positives too many at the level of decline in these operations, and said: the crackdown on the sale of the currency imposed by the central bank window was too many have contributed to reducing the money laundering process, which led to the control of the currency in the Iraqi market, where the US dollar dropped from 1300 to 1,200 dinars, in addition to the Tight with regard to the monitoring of compliance, internal audit and capital and to stress the need to follow all the instructions and regulations issued by the Central Bank and make a basic criteria for entering the currency selling the whole window led to the adjustment in the market initially was not bad Bh.oitapa the picture saying: On the other hand procedures, the cooperation that took place between the central bank and other government agencies and international institutions, particularly the international Monetary Fund and the World Bank, all led to this result, there are agreements now exist to follow the movement of capital in agreement with various international bodies, especially since Britain Bafatt Recent Rh, expressed their cooperation with regard to the prosecution of money - laundering operation in Britain itself, adding: that the money laundering process can not be eliminated even in major countries, but can be controlled with the cooperation of all local and international bodies, and we in Iraq do not have today, stats minutes in the size of the sums of money - laundering operations. 
Sees economic expert on behalf of Antoine, in an interview with (range), to money laundering , which was issued before the law and to activate the role of the Audit Department on the foreign exchange in the central bank and matching lists of incoming and emphasis Alkmarki and control of banking offices, it has curtailed the role in money laundering operations and halted part including, stressing that, if the censorship continues in this way with international coordination with the United States and the international Monetary Fund and the neighboring countries, there will be a large - scaled for this operation in Iraq. 
Antoine continues noting: that money laundering and fraud in general operations in Iraq, were not in this way that the censorship was a list but weak, and the fear that the money laundering operations are in favor of terrorism and the financing of terrorist operations, so recently intensified controls to prevent this process in Iraq, indicating that, wash multi - money operations, including what would be through the introduction of drugs and the introduction of goods and commodities prices are not real to her, and get money from entering the irregular include prostitution and smuggling, drugs and graft from the sale of arms, with members selling sex trafficking, women and others, all this Its entry is irregular which are not subject to income tax are types of laundering Alomwal.okan central bank adviser Walid Idi, has between in a press statement that " the Iraqi Central Bank monitors extensively precautionary measures on combating money laundering file, and the financing of terrorism as a scourge must be combated, and there is broad international cooperation on combating money laundering and the financing of terrorism in Iraq and the world level, adding that " the nature of the Iraqi regime (cash), so we find that the volume of money laundering few compared with other countries, especially since the central bank in cooperation with the chock, trail the banking sector employees to fight g For money and the financing of terrorism, the fact that the banking sector is the biggest target of these operations. " He pointed at the conclusion of his speech, that the central bank to withdraw licenses exchange companies located in the areas of conflict, for fear of its operations for the financing of terrorists, which in turn cut the road in front of them. 
 The money laundering hot global topics, and working governments and security agencies , financial institutions, and banking in particular, to combat it , because it poses a serious threat to global peace and security, known as money laundering or money laundering economically as, " the transfer of funds resulting from the practice of non - activities the legitimacy of the funds has the appearance of a proper legal , especially in terms of sources, as legally defined as, "accepting deposits or funds derived from the work of illegal or criminal, and to hide their origin, or cover them up , or helping any person who is a principal actor or partner in that work drop results ful Anonah to do.

[SocalDinar]

IMF Team Reaches Staff-Level Agreement on Second Review of Stand-By Arrangement with Iraq

June 5, 2017

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.

• The Iraqi authorities and the IMF mission have reached agreement on a supplementary budget for 2017, objectives for the 2018 budget, and strengthened procedures to keep expenditure under control
• The SBA aims to restore fiscal and external balance and to improve public financial management while protecting social spending.

The Iraqi authorities and an International Monetary Fund (IMF) team reached a staff-level agreement on the second review of the Stand-By Arrangement (SBA) that was approved by the IMF Executive Board on July 7, 2016 (See Press Release No. 16/321). The SBA aims to restore fiscal and external balance and to improve public financial management while protecting social spending. Iraq completed the first review under the SBA on December 5, 2016 and received a disbursement of SDR 0.46 billion (US$0.6 billion) (See Press Release No. 16/540). Completion of the second review will release a further disbursement of SDR 0.6 billion (US$0.8 billion).

Mr. Christian Josz, Mission Chief for Iraq, issued the following statement today in Amman:

“The Iraqi authorities and the IMF team have reached agreement on a supplementary budget for 2017, objectives for the 2018 budget, and strengthened procedures to keep expenditure under control. Both the supplementary 2017 budget and the 2018 budget will keep the fiscal consolidation, necessitated by the fall in oil prices, on track, while protecting social spending.

“Once agreed prior actions have been implemented, the IMF Board could consider the second review of the SBA in August.

“During the discussions, the team met with Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, Deputy Chief of Staff of the Prime Minister, Dr. Naufel Al-Hassan, Chairman of the Board of Supreme Audit, Dr. Salah Noori Khalaf, Acting Deputy Finance Minister, Ms. Taif Same, Deputy Minister of Planning, Dr. Qasim Enaya, Deputy Minister of Electricity, Mr. Abdel Hamza, Financial Adviser to the Prime Minister, Dr. Mudher Saleh, and officials from the ministry of finance, Central Bank of Iraq (CBI), the Board of Supreme Audit, the ministry of oil, the ministry of planning, the ministry of electricity, and a representative from the Kurdistan Regional Government. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”

http://www.imf.org/en/News/Articles/2017/06/05/pr17207-imf-team-reaches-staff-level-agreement-on-second-review-of-stand-by-arrangement-with-iraq

[dinarham]

Good news!

[Boozer]

keep feeding the corruption ,

[Butifldrm]

I find this very intersting  Thanks Socal 

 

“During the discussions, the team met with Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, Deputy Chief of Staff of the Prime Minister, Dr. Naufel Al-Hassan, Chairman of the Board of Supreme Audit, Dr. Salah Noori Khalaf, Acting Deputy Finance Minister, Ms. Taif Same, Deputy Minister of Planning, Dr. Qasim Enaya, Deputy Minister of Electricity, Mr. Abdel Hamza, Financial Adviser to the Prime Minister, Dr. Mudher Saleh, and officials from the ministry of finance, Central Bank of Iraq (CBI), the Board of Supreme Audit, the ministry of oil, the ministry of planning, the ministry of electricity, and a representative from the Kurdistan Regional Government. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”

 

[mr.unlikely]

Butifldrm I thought the same thing when I read this article. What does it mean? Inquiring minds want to know.

[Vespa_Romeo]

2 hours ago, SocalDinar said:

“Once agreed prior actions have been implemented, the IMF Board could consider the second review of the SBA in August.

 

Why must go for 2nd review? why can't just finish it all this month and push the button..

[psdon]

Wow I just got that from IMF YOTA691 you are on it 

[psdon]

soon

11 minutes ago, Vespa_Romeo said:

 

Why must go for 2nd review? why can't just finish it all this month and push the button..

Edited June 6, 2017 by psdon

[SnowGlobe7]

ok going out on a limb here.....due to possible (LOL) translation issues......follow me here....

 

any chance this is the SECURITY they keep talking about that Iraq needs to do...secure their money so that it can not be counterfeited or laundered??

 

anyone? 

[Butifldrm]

27 minutes ago, mr.unlikely said:

Butifldrm I thought the same thing when I read this article. What does it mean? Inquiring minds want to know.

 

I just find it interesting that when you go to www.cbi.iq, you don't see Mohsen listed as the Acting Governor.   We know he has the ability to print and sign currency, but does he truly have the right to decide monetary policy?  Evidently, the IMF does not reconize Mohsen as the Governor.

The CBI

The primary objectives of the Central Bank of Iraq (CBI) is to ensure domestic price stability and foster a stable competitive market based financial system. The CBI shall also promote sustainable growth, employment and prosperity in Iraq.

The functions of the CBI in addition to achieving its primary objectives are:

• Implement the monetary policy and the exchange rate policy of Iraq.
• Hold gold and manage the state reserves of gold.
• Issue and manage the Iraqi currency.
• Establish, oversee, promote a sound and efficient payment system.
• Issue licenses or permits in addition to regulating and supervising the banking sector as specified by the Banking Law.
• Carry out any ancillary tasks or transactions within the framework of Iraqi law.

 

CBI_Strategic_Plan (2016-2020)

Organizational Structure

Members of the Board of Directors and General Managers 

 

Governor (Mr.Ali Mohsen Ismail)

  

              Governor: Mr. Ali Mohsen Ismail                                                                                                                                     

                                                               

Deputy Governor (Dr.Mundher A.Q. Alshaikhli)

   

Deputy Governor: Dr. Mundher A.Q. Alshaikhli                                                                                                                                                     

                                                    

Holidays in (2017)in addition to Friday and Saturday

Jan.	1	New Year's Day
	6	Army Day/1921
Mar.	21	Spring Day
May	1	Labour Day
June	*25	Id Al-Fitr (3Days)
July	14	14th July Revolution /1958
Sep.	*1	Id Al-Adha (4 Days)
	*22	Islamic New Year
Oct.	*1	Ashoura Day
Dec.	*1	Prophet's Birthday

 

Dates noted with asterisk (*) are approximate

 

Copyright © 2012. Central Bank of Iraq. All rights reserved. Please read important disclaimer.

Edited June 6, 2017 by Butifldrm

[WheresmyRV?]

7 hours ago, Vespa_Romeo said:

 

Why must go for 2nd review? why can't just finish it all this month and push the button..

They like to study, review and form 22 committee's before they agree on something then before they do that take a 60 day recess from parliament.