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New CBI Announcement 07/09/2017


yota691
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Tuesday July 4, 2017 12:28
 
 
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Alsumaria News / Baghdad 
signed the Central Bank of Iraq , on Tuesday, a memorandum of understanding with Britain to develop anti - money laundering and the financing of terrorism measures. 

The bank said in a statement received, Alsumaria News, a copy of it, " The Governor of the Central Bank on the Keywords signed with the British ambassador in Iraq ,Frank Baker , a memorandum of understanding aimed at developing and supporting anti - money laundering and the financing of terrorism measures." 

The bank said that " the agreement signed today, include the provision of a grant from the British side of the Iraqi Central Bank , which in turn Sa_khassa to support efforts in the field of combating money laundering and terrorist financing through the organization of courses and workshops to develop capabilities in cooperation with specialized international institutions."

 

And established the Central Bank of Iraq as an independent institution under the law issued on the sixth of March 2004, an independent body which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rates and management of foreign reserves and the issuance of currency management policies, as well as to regulate the banking sector to promote the system competitive financial and independent.
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Iraq signs memorandum with Britain to develop anti-money laundering and terrorist financing procedures

economy

 Since 07/04/2017 13:21 am (Baghdad time)

%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9

Baghdad balances News

Iraqi Central Bank announced Tuesday that it has signed a memorandum of understanding with Britain to develop anti-money laundering and the financing of terrorism measures.

Central said in a statement received / scales News / copy of it, "the central bank governor on the Keywords signed with the British ambassador to Iraq, Frank Baker, a memorandum of understanding aimed at developing and supporting anti-money laundering measures and the financing of terrorism."

The statement added that "the agreement signed today, include the provision of a grant from the British side of the Iraqi Central Bank, which in turn Sa_khassa to support efforts in the fight against money laundering and terrorist financing through the organization of courses and workshops to develop capabilities in cooperation with specialized international institutions" .anthy 29 / A 43

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694.jpg
 
 

Economy News _ Baghdad

 

The Central Bank of Iraq signed a memorandum of understanding (MoU) with Britain on Tuesday to develop measures to combat money laundering and terrorism financing.

 

"The Central Bank Governor Ali Al-Alaq signed with the British Ambassador to Iraq, Frank Baker, a memorandum of understanding aimed at developing and supporting anti-money laundering and financing of terrorism," the bank said in a statement.

 

"The agreement signed today includes a financial grant from the British side of the Central Bank of Iraq, which will be dedicated to supporting efforts in combating money laundering and financing terrorism through organizing courses and workshops to develop capacities in cooperation with specialized international institutions," the bank said.

 

The Central Bank of Iraq was established as an independent institution under its law of March 6, 2004, as an independent body responsible for maintaining price stability and implementing monetary policy, including exchange rate policies, managing foreign reserves, issuing and managing currency, Financially competitive and independent.

 

 
Views Date Added Date 04/07/2017 Content number 8088
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Something that just dawned on me with regard to the disparaging differences on the currency exchange rates for the alternate CBI web page is there may need to be certain agreements in place with the short list of countries with major world currencies before the revaluation can occur. Here is the list of currencies and the currency exchange rates from the alternate CBI web page:

 

US Dollar USD 1.2
EURO EUR 1.08565
British pound GBP 1466.129
Canadian dollar CAD 876.741
Japanese yen JPY 11.156
Norwegian krone NOK 141.862
 
Maybe the issues with the United States (USD) and the European Union (EURO) have been addressed and are in place so the currently proposed exchange rates are shown for the USD and EURO but not the others. There could be issues remaining with Great Britain (GBP), Canada (CAD), Japan (JPY), and Norway (NOK) before all the other world currencies fall into place, too. What is missing here is the Chinese Yuan (Renminbi) to complete the major world reserve currencies that consist of the USD, Euro, GBP, JPY, and (just recently) CNY that now make up the Special Drawing Rights (SDR). If I am not mistaken, the IQD is supposed to be pegged to the SDR in the future and not solely the USD that could occur around the time the IQD is revalued.
 
Maybe directly related financial news on the agreements reached with Great Britain, Canada, Japan, Norway, and (possibly) China are bell weathers now for the progress toward reaching the tipping point on the IQD revaluation. I suspect these issues with these countries have all been in the works and it could be a matter of just getting things signed and going when Iraqi milestones are reached (i.e. passed laws, ISIS completely defeated in Iraq, IMIS is out of Iraq, etc.).
 
Only a thought and a thought only.
 
In the mean time.........................................
 
Go Moola Nova!
:pirateship:
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  • yota691 changed the title to Memo to combat money laundering and the financing of terrorism

Memo to combat money laundering and the financing of terrorism

   
 

 
2-3999.jpg

07/05/2017 0:00 
 
BAGHDAD / morning 
Central Bank of Iraq on Tuesday signed a memorandum of understanding with Britain to develop anti-money laundering and terrorism financing procedures.
The bank said in a statement that « the central bank governor Ali Keywords signed with the British ambassador to Iraq , Frank Baker, a memorandum of understanding aimed at developing and supporting the fight against money laundering and terrorism financing procedures». 
The bank said that « the agreement signed today, include the provision of a grant from the British side of the Iraqi Central Bank , which in turn Sa_khassa to support efforts in the fight against money laundering and the financing of terrorism by organizing courses and workshops to develop capabilities in cooperation with specialized international institutions». 
And established the Central Bank of Iraq as an independent institution under the law issued on the sixth of March 2004, an independent body which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rates and management of foreign reserves and the issuance of currency management policies, as well as to regulate the banking sector to promote the system competitive financial and independent.
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13 hours ago, Synopsis said:

Something that just dawned on me with regard to the disparaging differences on the currency exchange rates for the alternate CBI web page is there may need to be certain agreements in place with the short list of countries with major world currencies before the revaluation can occur. Here is the list of currencies and the currency exchange rates from the alternate CBI web page:

 

US Dollar USD 1.2
EURO EUR 1.08565
British pound GBP 1466.129
Canadian dollar CAD 876.741
Japanese yen JPY 11.156
Norwegian krone NOK 141.862
 
Maybe the issues with the United States (USD) and the European Union (EURO) have been addressed and are in place so the currently proposed exchange rates are shown for the USD and EURO but not the others. There could be issues remaining with Great Britain (GBP), Canada (CAD), Japan (JPY), and Norway (NOK) before all the other world currencies fall into place, too. What is missing here is the Chinese Yuan (Renminbi) to complete the major world reserve currencies that consist of the USD, Euro, GBP, JPY, and (just recently) CNY that now make up the Special Drawing Rights (SDR). If I am not mistaken, the IQD is supposed to be pegged to the SDR in the future and not solely the USD that could occur around the time the IQD is revalued.
 
Maybe directly related financial news on the agreements reached with Great Britain, Canada, Japan, Norway, and (possibly) China are bell weathers now for the progress toward reaching the tipping point on the IQD revaluation. I suspect these issues with these countries have all been in the works and it could be a matter of just getting things signed and going when Iraqi milestones are reached (i.e. passed laws, ISIS completely defeated in Iraq, IMIS is out of Iraq, etc.).
 
Only a thought and a thought only.
 
In the mean time.........................................
 
Go Moola Nova!
:pirateship:

Excellent thinking, Syn. It makes perfect sense

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  • yota691 changed the title to  Central Bank of Iraq signed a memorandum of understanding with the British side to develop anti-money laundering and the financing of terrorism measures​​​​​​​
 
  
 July 05, 2017
 Central Bank of Iraq signed a memorandum of understanding with the British side to develop anti-money laundering and the financing of terrorism measures

 

 Central Bank signed a memorandum of understanding with the British side to develop anti-money laundering and the financing of terrorism measures

Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail Alaak signed a memorandum of understanding with the British ambassador to Iraq, Frank Baker, aims to develop and support the fight against money laundering and terrorist financing procedures. The central bank explains that the agreement that took place on Wednesday 02.02.2017 include the provision of a grant from the British side of the Iraqi Central Bank, which in turn Sa_khassa to support efforts in the fight against money laundering and terrorist financing through the organization of courses and workshops to develop capabilities in cooperation with specialized international institutions. 

 

 

* Note that the date of the signing of the memorandum is the press statement 02/02/2017 

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13 hours ago, ComPLX said:

Maybe directly related financial news on the agreements reached with Great Britain, Canada, Japan, Norway, and (possibly) China are bell weathers now for the progress toward reaching the tipping point on the IQD revaluation.

 

Syn you really may be on to something. This may have something to do with it. Since Iraq has said there will be an e-currency, I can't help but think you're right

China’s Central Bank Completes Digital Currency Trial on a Blockchain

 

The People’s Bank of China (PBOC) has completed a trial run of digital currency based on blockchain technology.

According to a recent report from Chinese publishing giant Caixin, the central bank completed a trial that saw transactions settled with its own digital currency. Developed by the PBOC, the digital currency was tested on a blockchain and the trial was completed in mid-December 2016.

The trial took place on shared distributed ledger that saw several major commercial banks as participants. The world’s largest bank by assets, the Industrial and Commercial Bank of China along with the Bank of China – both government-owned banks – participated in the trial. So too, did privately owned WeBank, hinting toward a sweeping effort toward the possible digitization of the Chinese Renminbi, the country’s fiat currency.

The report also revealed how the government plans on setting up the digital payment infrastructure, when functional and ready for deployment.

An excerpt from the report reads:

When the system is ready, the central bank’s pilot digital bank acceptance exchange platform will be connected with the existing Shanghai Commercial Paper Exchange to form a national platform for bank bill transactions.”

Further, the publication also cites sources that point to an exclusive ‘digital currency research institute’ to be setup by the PBOC. The central bank issued a public recruiting callin November 2016 seeking experts in developing blockchain technology, big data, cryptography and systems’ design. As a mandatory requirement, applicants must hold a master’s or a doctoral degree in cryptography, computer science of information security.

The marked public effort toward digital currency & blockchain development and adoption by the central bank has spurred the wider banking sector in China – heavily reliant on paper – to start their own recruitment drive in hiring blockchain experts in recent times.

Early Development

The PBOC is among the earliest known efforts by a central bank to research and explore the possible issuance of a nationwide digital currency. China’s central bank put together a specialist research team as early as 2014, engaging experts from Citibank and Deloitte toward the discussion of the regulatory frameworks required for a national digital currency.

PBOC-Stock.jpg

The PBOC has stated its intention to issue its own digital currency “as soon as possible.”

A common consensus from officials points to a “practical and far-reaching historical significance” with the issuance of a national digital currency, if China becomes the first country in the world to do so. The PBOC’s endeavor to explore its own digital currency was only revealed in early 2016, despite having already researched the idea for two years.

A month after the public reveal, PBOC governor Zhou Xlaochuan added “blockchain technology is a good choice” as a non-counterfeiting, non-account-based solution that emphasizes privacy protection.

Separation from Bitcoin

“As a legal tender, digital currency must be issued by the central bank”, stated Xiaochuan in the same interview, who added that a PBOC-developed digital currency “differs from Bitcoin at (from) the very start.”

Perhaps coincidentally, the PBOC has been more prominently involved in looking into the operations of China’s major bitcoin exchanges since the successful completion of its own digital currency trial. The central bank’s “on-site” checks of bitcoin exchanges has the authorities pointing to “irregularities” in the trading platforms’ business practices. Following early inspections, bitcoin exchanges stopped margin trading options and began enforcing trading fees for bitcoin transactions.

Last week, the PBOC confirmed that its on-site inspections of these exchanges “will continue.”

 

https://www.cryptocoinsnews.com/chinas-central-bank-completes-digital-currency-trial-blockchain/

 

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On 7/4/2017 at 8:39 AM, Synopsis said:

Something that just dawned on me with regard to the disparaging differences on the currency exchange rates for the alternate CBI web page is there may need to be certain agreements in place with the short list of countries with major world currencies before the revaluation can occur. Here is the list of currencies and the currency exchange rates from the alternate CBI web page:

 

US Dollar USD 1.2
EURO EUR 1.08565
British pound GBP 1466.129
Canadian dollar CAD 876.741
Japanese yen JPY 11.156
Norwegian krone NOK 141.862
 
Maybe the issues with the United States (USD) and the European Union (EURO) have been addressed and are in place so the currently proposed exchange rates are shown for the USD and EURO but not the others. There could be issues remaining with Great Britain (GBP), Canada (CAD), Japan (JPY), and Norway (NOK) before all the other world currencies fall into place, too. What is missing here is the Chinese Yuan (Renminbi) to complete the major world reserve currencies that consist of the USD, Euro, GBP, JPY, and (just recently) CNY that now make up the Special Drawing Rights (SDR). If I am not mistaken, the IQD is supposed to be pegged to the SDR in the future and not solely the USD that could occur around the time the IQD is revalued.
 
Maybe directly related financial news on the agreements reached with Great Britain, Canada, Japan, Norway, and (possibly) China are bell weathers now for the progress toward reaching the tipping point on the IQD revaluation. I suspect these issues with these countries have all been in the works and it could be a matter of just getting things signed and going when Iraqi milestones are reached (i.e. passed laws, ISIS completely defeated in Iraq, IMIS is out of Iraq, etc.).
 
Only a thought and a thought only.
 
In the mean time.........................................
 
Go Moola Nova!
:pirateship:

 

13 hours ago, ComPLX said:

Excellent thinking, Syn. It makes perfect sense

 

Synopsis, ComPLX good morning, I like your thought process and yes agree, you may be on to something here. A super day up to you.

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18 minutes ago, ComPLX said:

Syn you really may be on to something. This may have something to do with it. Since Iraq has said there will be an e-currency, I can't help but think you're right

 

10 minutes ago, Wiljor said:

 

 

Synopsis, ComPLX good morning, I like your thought process and yes agree, you may be on to something here. A super day up to you.

 

Good Morning, Gentlemen, and The Best Of Your Day To You! :tiphat:

 

Well, OK, hopefully we will all be meeting soon and be on to thinking (and doing) very different things! 

 

:o   :o   :o   :D   :D   :D   :twothumbs:   :twothumbs:   :twothumbs:

 

Go Moola Nova!

:pirateship:

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Central Bank signed a memorandum of understanding with the British side

July 9, 2017

Central Bank signed a memorandum of understanding with the British side

 

Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail Alaak signed a memorandum of understanding with the British ambassador to Iraq, Frank Baker, aims to develop and support the fight against money laundering and terrorist financing procedures. The central bank explains that the agreement that took place on Wednesday 02.02.2017 include the provision of a grant from the British side of the Iraqi Central Bank, which in turn Sa_khassa to support efforts in the fight against money laundering and terrorist financing through the organization of courses and workshops to develop capabilities in cooperation with specialized international institutions. 

 

* Note that the date of the signing of the memorandum is the press statement 02/02/2017

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 July 09, 2017
Central Bank signed a memorandum of understanding with the British side

 

Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail Alaak signed a memorandum of understanding with the British ambassador to Iraq, Frank Baker, aims to develop and support the fight against money laundering and terrorist financing procedures. The central bank explains that the agreement that took place on Wednesday 02.02.2017 include the provision of a grant from the British side of the Iraqi Central Bank, which in turn Sa_khassa to support efforts in the fight against money laundering and terrorist financing through the organization of courses and workshops to develop capabilities in cooperation with specialized international institutions. 

 

 

* Note that the date of the signing of the memorandum is the press statement 02/02/2017

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29 minutes ago, Gypsygirl11 said:

Why wait 5 months to publish this?

It been published actually started  in Nov 2016....and then implementation process follow after...02/2017 to today date...DV Link

Keywords: central bank will begin to apply international standards beginning this December (Details)

30-11-2016 12:42 PM
Hits: 227
image.php?token=51a4a707706f7091712fe0ceb9025b90&size=
 

East News -

 

 

The governor of the Central Bank and the Agency on the Keywords, said on Wednesday that the agreement signed by the United States aims to cut off funding for the organization (Daesh) and other terrorist organizations and prevent money laundering ', and pointed out that the bank will start applying the certified standards internationally in this regard the beginning of December next, with the exception that the process of removing zeros from the local process requires the availability of appropriate conditions, including the general stability in the country, he pointed out that the bank continues to technical preparations in this regard.

 
Keywords and said in a press statement, that 'the first agreement of its kind between the Federal Reserve Bank and the US Treasury on the one hand and the Central Bank of Iraq, on the other hand, entered into to control the dollar remittances and ensure the prevention of access to illicit destinations', indicating that the' agreement includes cooperation and coordination and the exchange of information and financial data relating to the sale of foreign currency and circulation. "

 
He Keywords that 'The agreement aims to prevent the arrival of the foreign currency to Daesh and terrorist organizations, by ensuring and verifying that the financial and banking institutions that you purchase does not involve money laundering or terrorist financing operations', adding that' control mechanisms include several measures the most important , building databases and integrated electronic system that collects dollar selling window operations rather than paper processes'.


He said the central bank governor and the agency, that 'mechanisms also include the introduction of a program (OFAC List) to verify that the persons and entities prohibited to deal with them globally and to ensure that their entry into dollar selling window, where already been implemented', pointing out that 'mechanisms also include work on the application standards and international compliance requirements, particularly in the application of the principle of know your customer to verify the sources of funds and legitimacy, where he was informed banks and the conversion of these requirements, where censorship is taking place and oversee the implementation and training and qualification of cadres working '.


He Keywords that 'the bank provided financial Labour Organization (FATF) action taken to combat money laundering and terrorist financing', stressing that 'the actions taken by the Central Bank of Iraq, which led to eject Iraq from Category gray of the organization'.


Keywords and pointed out that 'the bank enter the accredited international standards by an international auditing firm for the classification of financial and banking institutions, including ensure compliance with the requirements of the compliance of the law against money laundering and terrorist financing for the year 2015, where it will be applied to the beginning of December next.'


And on the application of the process of deleting the zeros of the Iraqi currency, confirmed the Keywords, that 'the CBI did not specify a date for the deletion of zeros from the currency dinar', noting that 'subject to availability of appropriate conditions, including the general stability in the country.'


He stressed the central bank governor and the agency, the need to 'ensure the success of the process of deleting the zeros requirements before starting out, so the central bank will continue technical preparations in order to be practical fit when deciding deletion'.

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