Economist: Banks should be turned into development bridges, not money laundering and smuggling offices

[yota691]

Economist: Banks should be turned into development bridges, not money laundering and smuggling offices

Written by: saadin:March 22, 2018In:

Light News / Baghdad 
stressed the economic expert Abdul Hamid Naji al - Samarrai, on Thursday, the need to transform private banks to bridges for development and financing offices not for money laundering and smuggling.

"There is a need to reform the banking system, enact laws that deter the reform of the banking system in the country, and turn private banks into bridges of development and financing, not money laundering and dollar smuggling offices," al-Samarrai said in a statement received by Al-Nour News.

He stressed, "the importance of using international audit and control institutions away from political parties for the detection of corruption files and regulate the disbursement of expenses and grant contracts in a transparent manner."

"Most of the experiences of developing countries in borrowing were not encouraging, and ended up in the end to the scheduling of debt and the sale of the public sector and the national wealth of foreign companies," he said, stressing "the need to be cautious about international borrowing and high interest rates for fear of falling. In the trap of indebtedness. "

[TOMINVEGAS]

Don't they teach those things at the schools and universities in Iraq though??? The university of Baghdad has highly regarded programs.... the most popular is the masters degree known as the MFS ( Masters of Financial Sociopathism)..... some of the core areas to obtain this degree include setting up shell companies, forgery, document preparation, impersonation, money laundering and smuggling, psychology of deceit, intimidation and coercion..... other areas of study include fake Id’s, identity theft, science of fraud, mechanics of the con, etc etc. 

[DinarDavo]

17 minutes ago, TOMINVEGAS said:

Don't they teach those things at the schools and universities in Iraq though??? The university of Baghdad has highly regarded programs.... the most popular is the masters degree known as the MFS ( Masters of Financial Sociopathism)..... some of the core areas to obtain this degree include setting up shell companies, forgery, document preparation, impersonation, money laundering and smuggling, psychology of deceit, intimidation and coercion..... other areas of study include fake Id’s, identity theft, science of fraud, mechanics of the con, etc etc. 

 

These programs are of great benefit to those that are criminally challenged.....for others, it's just a family tradition.   

[10 YEARS LATER]

It’s in their DNA . . . They’ve been doing this for all of recorded history- they call it “ getting things done “ it’s not a criminal activity in their eyes 👀 

[Donziman]

You guys are too much. Thanks for the laugh  The truth is always funnier than fiction

[Laid Back]

I believe the Iraqi banking system is moving forward to connect electronically with the world.

- IBAN 

- SWIFT 

- RTGS 

- AML

- ATF

- ISO certified 

- Daily auction when from around $300 million a day to a around $150 million a day

- Currency reserve growth 7% in 2017

- The gap between official rate and street rate is around 2%

- Private banks increased capital to a $100 million

- e-banking

- ATM machines

 

 just a few from the top of my mind,  

 

Go CBI

Go Banking System 

Go new monetary policy 

Go RV

Go $1:1

 

[Wiljor]

15 minutes ago, Laid Back said:

I believe the Iraqi banking system is moving forward to connect electronically with the world.

- IBAN 

- SWIFT 

- RTGS 

- AML

- ATF

- ISO certified 

- Daily auction when from around $300 million a day to a around $150 million a day

- Currency reserve growth 7% in 2017

- The gap between official rate and street rate is around 2%

- Private banks increased capital to a $100 million

- e-banking

- ATM machines

 

 just a few from the top of my mind,  

 

Go CBI

Go Banking System 

Go new monetary policy 

Go RV

Go $1:1

 

 

Evening brother Laid Back, looks to me like they are getting ready to make the jump to the worlds stage. We have seen major progress as of late, Abadi has been putting the final touches to his mandate 

[skeetdog]

Thanks Yota...There's an overwhelming amount of commerce to be profited from an 'open-economy'...To accept Art.8 an profit off the market adjustment...as Iraq's 'private sector' launches the value of the dnar...far outweigh the profit from the autions...and corruption...imho 

[Laid Back]

12 hours ago, Wiljor said:

 

Evening brother Laid Back, looks to me like they are getting ready to make the jump to the worlds stage. We have seen major progress as of late, Abadi has been putting the final touches to his mandate 

Totally agree my brother