We are close to economic stability

[ChuckFinley]

12 hours ago, 6ly410 said:

I don’t think all this is happening with a worthless currency...time is up 

For sure, there has been more positive news and ACTION in the las 6 months than the last 15 years. This train is gaining speed. 

[yota691]

Central Bank of «Economy News»: The presence of international payment companies will reflect positively on the citizen

 

Director of Payments Department at the Central Bank, Souha Abdel-Karim «Economy News»

Banks Economy News Baghdad: The Central Bank of Iraq, signed an agreement with MasterCard International to support Iraqi banks and payment service providers licensed to work according to international best practices in this regard, adding that the presence of international companies inside Iraq will be reflected positively on the citizen because it will increase services and reduce prices . "The Central Bank of Iraq signed an agreement with MasterCard International on the sidelines of the 2018 Arab Banking Summit in Paris to strengthen the regulatory framework for work in Iraq, which will be "The agreement includes several aspects, including training and financial education and contribute to the development of the national strategy of electronic payment to upgrade financial and banking services, which will be launched in the next phase and strengthen the d Exporters and collectors of electronic payment tools . " She added that "the Central Bank stands one distance from international companies for the purpose of promoting professional competition and aims to reflect positively on services, prices, innovation and diversity of tools ." "The Central Bank of Iraq is working to improve levels of financial coverage throughout Iraq through the existence of efficient systems and effective access to the services provided through them " Views 1423   Date Added 29/06/2018

 

[yota691]

Al-Hanal: Iraq has sought in recent years to promote the banking sector to stimulate the Iraqi economy

 

During his speech at the 2018 Arab International Banking Summit

Banks Economy News Baghdad The President of the Association of Iraqi private banks Wadih al-Hanalal, Friday, that Iraq has sought in recent years, led by the Central Bank and the participation of the Association of Banks, to promote the Iraqi banking sector because it is the main artery that feeds and activates the Iraqi economy. Al-Hantal said during his speech at the Arab International Banking Summit, and attended by the "Economy News", that "at the beginning we extend our best congratulations and congratulations to the Governor of the Central Bank of Iraq Ali Mohsen Al-Alak for his choice and merit as the best governor in the Arab region in 2018, to lead monetary policy in Iraq under difficult circumstances Iraq has passed through crises, most notably the war on terrorism and low oil prices, where the Central Bank of Iraq, led by the governor, proved to be an independent and solid institution capable of overcoming these difficulties. We also thank the Union of Arab Banks for choosing this and shedding light on the situation of the banking sector in Iraq". He added that "Iraq has sought in recent years, under the leadership of the Central Bank of Iraq and the participation of the Association of Iraqi private banks," he said, adding that "Iraq has sought in recent years, led by the Central Bank of Iraq and the participation of the Association of Iraqi private banks , To promote the Iraqi banking sector because it is the main artery that feeds and activates the Iraqi economy. He explained that "despite the exit of Iraq from the controls and restrictions of the seventh item of the United Nations, and its openness to the world, but we in the Iraqi banking sector, we still suffer from the so-called banking blockade, where the banking relations of Iraqi banks with Arab and international banks below the required level, Strive to activate banking relations with foreign banks. " He pointed out that "the Iraqi banking sector is open to all international banks, and there are a lot of Arab banks or foreign actually in Iraq, and there are other banks wishing to enter the Iraqi market, and this is evidence of the improvement and development of this market, The Iraqi banker from within. " And enables the individuals and companies to conduct their financial transactions accurately and safely and the banks to respond to this request and opening up more on the Iraqi market, the world turns into an open loop financial transactions after it was based on closed rings, which do not exceed the scope of one bank or one country taking into account the importance of openness to the world After the era of internal wars and crises in Iraq, where the Iraqi banking sector adopted the application of all international requirements and standards related to banking, including, but not limited to, recommendations of Basel (1,2,3), The Financial Stability Council, and other recommendations and legislation. This concern and commitment by our Iraqi banks to comply with this legislation is a result of their conviction and awareness of the importance of their impact on their work inside and outside Iraq. " "We call on the Arab banks first and the international banks to work seriously to establish banking relations with Iraq in order to open up mutual relations between the Iraqi economy and foreign economies, exchange experiences and knowledge, and thus build confidence and revive the economy. He concluded by saying: "I must express my pride and admiration for the persevering efforts exerted by the team of the Union of Arab Banks in order to make this a success. The good organization and management of the meetings of the Arab International Banking Summit this year have had a great impact on their success and achievement of their objectives. I am proud of all the colleagues who have provided the juice of their ideas in order to elevate the Arab banking work, wishing all success and success. " It is worth mentioning that the Central Bank of Iraq has adopted ambitious plans to activate the financial coverage and also works to create all the technical requirements for this through the development of infrastructure where he established the central national division and a number of important electronic systems that are linked to Iraqi banks and worked to create the legal basis through To amend and legislate relevant laws such as the electronic payment law and to establish controls for the formulation of strategic policies. Views 439   Date Added 29/06/2018

[gregp]

He pointed out that "the Iraqi bankingsector is open to all international banks.”

[NEPatriotsFan1]

2 hours ago, yota691 said:

He pointed out that "the Iraqi banking sector is open to all international banks, and there are a lot of Arab banks or foreign actually in Iraq, and there are other banks wishing to enter the Iraqi market, and this is evidence of the improvement and development of this market, The Iraqi banker from within. "

This has me pretty excited here Yota! TY

[yota691]

Video: How to turn the relationship from the worst central bank governor in the Middle East to the best Arab ??

The political scene  Saturday, June 30 2018 at 16: 18 pm (336 views)

[Floridian]

That's the question I was asking.  Too bad the answer is in Arabic.  🤔

[6ly410]

2 hours ago, gregp said:

He pointed out that "the Iraqi bankingsector is open to all international banks.”

Wow.. let’s go then 

Edited June 30, 2018 by 6ly410

[6ly410]

4 hours ago, 6ly410 said:

He pointed out that "the Iraqi bankingsector is open to all international banks.”

This is absolutely awesome it showing exactly what Iraq is up to..wow

[6ly410]

Navira 🥂 

[navira]

6ly410, yup...getting closer bro

[6ly410]

Yes 

[Pitcher]

PARIS, June 28, 2018 /PRNewswire/ -- Today, the Governor of the Central Bank of Iraq Mr. Ali Mohsen Ismail Al-Alaq received an award issued by the Union for Arab Banks for being this year's best central bank governor among the Arab states. This award, which the Iraq Private Banks League would like to recognize, was presented at the 2018 International Arab Banking Summit taking place in Paris, France, under the patronage of the President of the French Republic Mr. Emmanuel Macron.

 

"His Excellency Governor Al-Alaq has demonstrated incredible ability to maintain the monetary and financial stability in Iraq during trying circumstances in the country by 1) implementing world-class central bank measures and standards; 2) developing Iraq's financial infrastructure and regulatory system; 3) enhancing financial inclusion and small and medium enterprise access to financing; and 4) spreading financial literacy and promoting consumer financial protection," said Wissam Fattouh, Secretary General of the Union of Arab Banks. "These are unprecedented achievements and deserve from us all the praise and appreciation. His Excellency's achievements should be revered as a model for the banking profession." 

"I am truly humbled to accept this award from the Union of Arab Banks and to be recognized by such an esteemed group of my peers," said Governor of the Central Bank of Iraq Ali Mohsen Ismail Al-Alaq. "I will remain steadfast in my efforts to continue growing Iraq's economy and to foster strong economic and financial policies that will push Iraq forward. At the core of these efforts has been a collective goal to improve our regulatory and business safeguards to ensure that Iraq'sfinancial system remains safe from abuse, therefore creating a strong foundation for business and investment. I look forward to continuing these efforts with my colleagues – in Iraq, in the Middle East region, and globally."

This honor comes following a number of accomplishments Governor Al-Alaq has achieved over the past year both domestically in Iraq and internationally through Iraq's partners, and in various economic and financial fields. Notably, he stabilized the exchange rate of the Dinar and increased liquidity in the market. Recognizing the improvement this step would make to Iraq's financial system, he pursued significant developments in the country's electronic payment system. Governor Al-Alaq also advanced a number of efforts and achievements to enhance Iraq's anti-money laundering/countering the financing of terrorism (AML/CFT) regime.

 

https://www.prnewswire.com/news-releases/iraq-central-bank-governor-receives-award-in-paris-300674386.html

[Pitcher]

I’ll give this Iraqi banker 2 awards and Thug can book him at a Paris Hilton, if he will ring the RV bell.  

 

 That’s Paris Texas.

[jg1]

What about, Shabibi. He deserves more than an award for him RVing the dinar and then falsly imprisoned. 

[Pitcher]

No kidding jg1.

[jg1]

This stinking CBI gov was put there by stinking Maliki. No good can come of it, not the real good that we are waiting for. He's just keeping the auctions going to keep his X boss happy and the money laundering machine running. 

[SupraRacer]

38 minutes ago, Pitcher said:

I’ll give this Iraqi banker 2 awards and Thug can book him at a Paris Hilton, if he will ring the RV bell.  

 

 That’s Paris Texas.

 

I've been to Paris, Texas and have never seen a Paris HIlton.

SR

[Pitcher]

Yep, and a lot of that money is going straight to Iran. Maliki should be in jail for sure

[yota691]

We are close to economic stability

Author: Yasser Metwally 01/7/2018 12:00 AM  I expected after the page of terrorism and its defeat was included in a previous column entitled "Economic stability is coming to Paris". Let us follow this analysis.  It is very normal to have any decision or legislation or to make advantages and disadvantages and when the tilt of the balance in favor of advantages, we are in the right way and the right and otherwise, if the balance in favor of defects we are in the wrong way.  I will discuss in my subject this important measure is the "currency window" If we follow the procedure of the Central Bank of Iraq by adopting any window to control the market and determine the adverse effects of the fluctuation of the dollar exchange rate on the monetary stability we have seen through several turns during which the central to violent criticism according to different views and views, The currency window applies to it as a theory of advantages and disadvantages. One of the fiercest criticisms is that it is a means of smuggling currency, and this aspect falls within the balance of flaws from the vision of this team to the loss of hard currency and the impact of the Federal Reserve guarantor of the future of the country of acute crises.  On the other hand, the Central Bank has defended its adoption of the window as the best means available to provide local liquidity to meet the needs and requirements of the state of the national currency and salaries of employees and retirees and other uses, because the state's revenues are in foreign currency being a state of rent and oil source of its   budgets.  The Central Bank was able to convince the parliamentary committee that was following the event after reviewing the mechanism of work and how the central bank was able to provide liquidity and preserve the value of the national currency.  In the previous column I have pointed out that monetary policy has been able to achieve monetary stability at a fixed price equal to the official exchange rate with the parallel "price of trade" has been achieved stability after this price has passed all attempts and thus succeeded in monetary policy to stabilize the meaning of that He came close to economic stability and my prediction came in his place.  What does economic stability mean?  Means that the process of rebuilding the country will start with confidence because the economic stability restore investor confidence in the Iraqi market and its ability to secure the requirements and requirements of construction. Thus, the balance was tilted in favor of the advantages of the currency window and thus the central bank was able to put its mark in the way of the return of companies. In view of the success of the monetary policy, its engineer obtained an international Arab evaluation by nominating him as the best governor at the level of the Arab countries in 2018 and thus proved his good management of monetary policy and the development of the performance of the private banking sector.  We have to maintain these achievements for the sustainability of stability and this requires constant coordination between the financial and monetary policies and this will be within my next follow-up.

[yota691]

From the CBI News 07/01/2018

Outcomes FATF-MENAFATF Joint Plenary, 27-29 June 2018

 

 

Paris, 29 June 2018, FATF President Santiago Otamendi of Argentina and MENAFATF President Abdul Hafiz Mansour chaired the third Plenary meeting of XXIX in Paris on 27-29 June 2018. 

The main issues dealt with by this Plenary were:   

Combatting terrorist financing, including the outcomes from the Ministerial Conference on the Fight against the Financing of Daesh and Al-Qaeda, organised by the French government Adoption of a report to the G20 Finance Ministers and Central Bank Governors Improving the effectiveness of the Criminal Justice System, a President’s paper on the outcomes from FATF global engagement with judges and prosecutors Financial Flows from Human Trafficking, a typologies report  Concealment of Beneficial Ownership, a typologies report Professional Money Launderers, a typologies report Discussion of the mutual evaluation reports of the Kingdom of Bahrain and the Kingdom of Saudi Arabia. Discussion of follow-up reports for the mutual evaluations of Australia, Belgium and Sweden, all three countries sought technical compliance re-ratings Brazil’s progress in addressing the deficiencies identified in its mutual evaluation report since it agreed to an action plan in November 2017. Identifying jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT) deficiencies  AML/CFT improvements in Iraq and Vanuatu New jurisdiction subject to monitoring Monitoring Iran’s actions to address deficiencies in its AML/CFT system Discussion of the draft risk-based approach guidance for the insurance sector and the draft risk-based approach guidance for the securities sector Update on FinTech & RegTech Initiatives Discussing FATF’s work programme on virtual currencies/crypto-assets Outcomes of the meeting of the FATF Forum of Heads of Financial Intelligence Units (FIUs), which was held in the margins of the Plenary Strengthening FATF’s institutional basis Activities of the FATF Training and Research Institute in Busan, Korea Discussion of the priorities of the US Presidency of the FATF Welcoming Somalia as a member to MENAFATF Welcoming Indonesia as an observer country to the FATF Welcoming CARIN as an observer organisation to the FATF

Combatting terrorist financing, including the outcomes from the Ministerial Conference on the Fight against the Financing of Daesh and Al-Qaeda, organised by the French government

In February 2018, the FATF adopted its second counter-terrorist financing operational plan of action, which provides a framework for a flexible and dynamic response to terrorist financing threats. FATF’s role in leading global efforts in this area was highlighted at the international conference on tackling the financing of terrorism (“No Money for Terror”), at the initiative of French President Macron, which took place in Paris on 25-26 April 2018. The closing statement demonstrated the high-level commitment of participating jurisdictions and organisations to work together to block terrorists’ financial flows and recognised the important role of the FATF and FSRBs. The FATF Plenary discussed the synergies between the conclusions of the statements and its counter-terrorist financing strategy. Delegates also discussed ongoing and completed work in the areas of focus of the FATF’s strategy.

Improving the identification and understanding of terrorist financing risks remains a core element of the FATF’s strategy and delegates discussed ongoing work in this area, including the review of risk, threats and vulnerabilities associated with crypto-assets, and an update on the financing methods employed by ISIL, AQ and affiliates.

The global implementation of effective counter-terrorist financing measures is essential to choke off financial flows with links to terror. The FATF Plenary discussed the ongoing review of the effective implementation of measures concerning risk, policy and coordination (IO1), investigation & prosecution (IO9), and preventive measures & financial sanctions (IO10). The outcomes of the Argentinean Presidency’s initiative of FATF outreach to judges and prosecutors (see below) will also contribute to more effective terrorist financing investigations and prosecutions.

Adoption of a report to the G20 Finance Ministers and Central Bank Governors

The Plenary discussed the FATF’s report to the G20 Finance Ministers and Central Bank Governors. This report sets out FATF’s progress, since its last update to G20 in March 2018, on its work programme to respond to the increasing use of virtual currencies/crypto-assets for money laundering and terrorist financing. This work will be one of the priorities of the FATF under the US Presidency.

The report also includes an update on FATF’s work to counter the financing of terrorism and proliferation, improve transparency and the availability of beneficial ownership information, the President’s initiative of FATF engagement with judges and prosecutors, de-risking and FinTech, RegTech.

Improving the effectiveness of the Criminal Justice System

Under the Argentinean Presidency, one of FATF’s priorities was to enhance engagement with national Prosecution Services and other experts within Criminal Justice Systems. Prosecutors and the judiciary are an important component of AML/CFT efforts. A series of regional workshops brought together practitioners as well as representatives to gather and share experiences and views on the challenges and good practices in investigating and prosecuting money laundering and terrorist financing cases, and seizing and confiscating criminal proceeds and instrumentalities. FATF President Santiago Otamendi presented a paper on the outcomes of this global engagement with judges and prosecutors which will contribute to making investigation, prosecution of terrorist and money launderers more effective. The final report, Anti-money laundering and counter terrorist financing for judges and prosecutors, highlights the relevant underlying and supporting elements of the wider AML/CFT regime. It also provides good practices in the investigation, prosecution and conviction for both money laundering and terrorist financing; confiscation; and mutual legal assistance, extradition & other cooperation.

Financial Flows from Human Trafficking

Human trafficking is one of the most heinous and profitable proceeds-generating crimes in the world. The Plenary adopted a joint FATF-APG report which analyses the financial flows associated with the fast-growing crime of human trafficking, both as a money laundering predicate and potential source of terrorist financing. The report updated the FATF’s 2011 Human Trafficking report. The report provides good practices and indicators specific to the type of human trafficking as specified in the Palermo Protocol: human trafficking for forced labour, sexual exploitation or for the removal of organs. The report also responds to a call from the UN Security Council for the FATF to consider the links between human trafficking and terrorist financing.

Concealment of Beneficial Ownership

Legal persons, legal arrangements and professional intermediaries play important roles in facilitating business growth and development. But, they can also be misused, providing criminals with structures that help them conceal the proceeds of crime. The Plenary adopted a joint FATF-Egmont Group study that looks at the mechanisms and techniques that can be used to obscure the ownership and control of illicitly obtained assets, drawing on over 100 case studies, the experiences of law enforcement experts, the outcomes of FATF Mutual Evaluation Reports, and the insights provided by academic reports and other studies. The report aims to raise awareness with national authorities, financial institutions and other professional service providers about the risks involved.

Professional Money Launderers

Professional money launderers (PMLs) provide services to criminals and organised criminal groups by laundering the proceeds of their illegal activities. They may provide the entire infrastructure for complex ML schemes (e.g. a ‘full service’) or construct a unique scheme tailored to the specific needs of a client that wishes to launder the proceeds of crime. This report identifies the specialist skill sets that PMLs offer their clients in order to hide or move their proceeds, and provides a detailed explanation of the roles performed by PMLs to enable authorities to identify and understand how they operate. This report also provides recent examples of financial enterprises that have been acquired by criminal enterprises or co-opted to facilitate ML. This report aims to assist authorities to target PMLs, as well as the structures that they utilise to launder funds, in order to disrupt and dismantle the groups that are involved in proceeds-generating illicit activity so that crime does not pay.

Mutual evaluation reports of Bahrain and Saudi Arabia

The Plenary discussed the joint FATF-MENAFATF mutual evaluation reports of Bahrain and Saudi Arabia, which set out the level of effectiveness of each country’s AML/CFT system and their level of compliance with the FATF Recommendations. The reports were prepared on the basis of the FATF Methodology for assessments, which requires countries to take into account the effectiveness with which AML/CFT measures are implemented, as well as technical compliance for each of the FATF Recommendations.
The Plenary discussed the key findings, priority actions, and recommendations regarding each country’s AML/CFT regime. The mutual evaluation reports are expected to be published by September 2018 after the quality and consistency review, in accordance with procedures.

Mutual evaluation follow-up reports of Australia, Belgium and Sweden

The Plenary discussed the progress that Australia, Belgium and Sweden have made since their mutual evaluation reports were adopted in 2015 for Australia and Belgium, and 2017 for Sweden. All three countries have made progress since the publication of their mutual evaluation report. For each country, the FATF Plenary agreed to re-rate a number of FATF Recommendations to reflect the country’s current level of technical compliance. After a quality and consistency review, the FATF will publish the follow-up reports which set out the actions that these countries have taken to strengthen the effectiveness of their measures to combat money laundering and the financing of terrorism and proliferation.

Brazil’s progress in addressing the deficiencies identified in its mutual evaluation report

The FATF recognises that Brazil has taken further steps to improve its counter terrorist financing regime; however deficiencies remain regarding targeted financial sanctions and Brazil has failed to meet the deadlines in the action plan it agreed to. As such, this is now a membership issue for the FATF to consider in February 2019 and Brazil is encouraged to address those deficiencies as soon as possible.

Identifying jurisdictions with strategic AML/CFT deficiencies

The FATF maintains its February 2018 public documents which identify jurisdictions that may pose a risk to the international financial system, with the amendments set out below:

• Jurisdictions with strategic AML/CFT deficiencies for which a call for action applies. 
• Jurisdictions with strategic AML/CFT deficiencies for which they have developed an action plan with the FATF

Jurisdictions no longer subject to monitoring

The FATF congratulated Iraq and Vanuatu for the significant progress made in addressing the strategic AML/CFT deficiencies identified earlier by the FATF and included in their respective action plans.

Both countries will no longer be subject to the FATF’s monitoring under its on-going global AML/CFT compliance process, and will work with their FATF-Style Regional Bodies MENAFATF (Iraq) and APG (Vanuatu) as they continue to further strengthen their AML/CFT regime.

New Jurisdiction subject to monitoring

FATF has identified Pakistan as a jurisdiction with strategic AML/CFT deficiencies. The country has developed an action plan with the FATF to address the most serious deficiencies. The FATF welcomed the high level political commitment of Pakistan to their action plan.

Monitoring Iran’s actions to address deficiencies in its AML/CFT measures

In June 2016, the FATF welcomed Iran’s high-level political commitment to address its strategic AML/CFT deficiencies, and its decision to seek technical assistance in the implementation of the Action Plan. Given that Iran provided that political commitment and the relevant steps it has taken, the FATF decided in February 2018 to continue the suspension of counter-measures.

Since November 2017, Iran has established a cash declaration regime and introduced draft amendments to its AML and CFT laws. However, Iran’s action plan has expired with a majority of the action items remaining incomplete. Iran should fully address its remaining action items, including by: (1) adequately criminalising terrorist financing, including by removing the exemption for designated groups “attempting to end foreign occupation, colonialism and racism”; (2) identifying and freezing terrorist assets in line with the relevant United Nations Security Council resolutions; (3) ensuring an adequate and enforceable customer due diligence regime; (4) ensuring the full independence of the Financial Intelligence Unit and requiring the submission of STRs for attempted transactions; (5) demonstrating how authorities are identifying and sanctioning unlicensed money/value transfer service providers; (6) ratifying and implementing the Palermo and TF Conventions and clarifying the capability to provide mutual legal assistance; (7) ensuring that financial institutions verify that wire transfers contain complete originator and beneficiary information; (8) establishing a broader range of penalties for violations of the ML offense; and (9) ensuring adequate legislation and procedures to provide for confiscation of property of corresponding value.

The FATF is disappointed with Iran’s failure to implement its action plan to address its significant AML/CFT deficiencies. Given the Iranian government’s continued efforts to finalize and pass amendments to its AML and CFT laws, the FATF decided at its meeting this week to continue the suspension of counter-measures. The FATF urgently expects Iran to proceed swiftly in the reform path to ensure that it addresses all of the remaining items in its Action Plan by completing and implementing the necessary AML/CFT reforms, in particular enacting the necessary legislation. We expect Iran to enact amendments to its AML and CFT laws and ratify the Palermo and TF Conventions in full compliance with the FATF Standards by October 2018, otherwise, the FATF will decide upon appropriate and necessary actions at that time.

Iran will remain on the FATF Public Statement until the full Action Plan has been completed. Until Iran implements the measures required to address the deficiencies identified in the Action Plan, the FATF will remain concerned with the terrorist financing risk emanating from Iran and the threat this poses to the international financial system. The FATF, therefore, calls on its members and urges all jurisdictions to continue to advise their financial institutions to apply enhanced due diligence to business relationships and transactions with natural and legal persons from Iran, consistent with FATF Recommendation 19.

Discussion of the draft risk-based approach guidance for the insurance sector and the draft risk-based approach guidance for the securities sector

Delegates discussed two draft risk-based approach guidance papers. These papers will be released for public consultation following the Plenary. The finalised reports, which will take into account the feedback received during the public consultation, will be adopted by the FATF Plenary in October 2018.

Update on FinTech & RegTech Initiatives

The Plenary heard an update on FATFs ongoing work concerning FinTech and RegTech, including plans for the next FATF FinTech and RegTech Forum which will be held jointly with the Eurasian Group (EAG) in Hangzhou, China on 4-5 September 2018, and presentations by the United Arab Emirates and Tunisia.

FATF’s work programme on virtual currencies/crypto-assets

Delegates discussed FATF’s comprehensive work programme to urgently address the money laundering and terrorist financing vulnerabilities of virtual currencies/crypto-assets. FATF continues its work to actively monitor and understand how criminals and terrorists can use virtual currencies/crypto assets to launder the proceeds of crime or move funds to support terror. The FATF agreed to initiate a project on investigative best practices related to virtual currencies/crypto-assets to assist law enforcement in the light of the growing risks. FATF’s has begun its review of guidance and standards to determine if changes are necessary to clarify their application to virtual currencies/crypto-assets and promote a more consistent regulatory approach, taking into account the results of FATF’s stocktake exercise of the different national regulatory approaches. The FATF will hold an intersessional meeting in September on how the FATF Standards apply to virtual currencies/crypto-assets.

Outcomes of the meeting of the FATF Forum of Heads of Financial Intelligence Units (FIUs), which was held in the margins of the Plenary

FATF Heads of FIUs met in the margins of the FATF Plenary to discuss the cooperation between FIUs and intelligence services and follow-up on earlier discussions on the importance of FIU autonomy and independence.

The private sector plays an important role in detecting and reporting suspicious transactions. For the first time, the meeting of FATF Heads of FIUs also included private sector participants during the discussions on enhancing the effectiveness of suspicious transaction reporting (STR) regimes and the quality of financial intelligence.

Strengthening FATF’s institutional basis

FATF members discussed options to reinforce the FATF’s legal capacity, international standing and independence.

Activities of the FATF Training and Research Institute in Busan, Korea

The FATF Training and Research Institute, FATF TREIN, updated the Plenary on its activities since February 2018. The FATF TREIN research and training programme included the APG-FATF Joint Experts’ Meeting, its flagship Standards Training courses and the pilot training course on Counter Proliferation Financing.

Discussion of the priorities of the US Presidency of the FATF

The Plenary discussed the priorities of the FATF during the US Presidency. During the US Presidency, the FATF will continue its core work, with a particular focus on combatting the financing of the proliferation of weapons of mass destruction, countering the financing of terrorism and addressing the ML/TF risks of virtual currencies/crypto assets.

Welcoming Somalia as a member to MENAFATF

The MENAFATF congratulated Somalia on their completion of the accession criteria. All countries present endorsed their membership, the MENAFATF Secretariat shall reach out to other jurisdictions that did not attend for their approval of the membership. 

More on:

Public Statement, 29 June 2018

Improving Global AML/CFT Compliance: On-going Process - 29 June 2018

[6ly410]

http://www.alsabaah.iq/ArticleShow.aspx?ID=159305. I expected after the page f terrorism and its defeat was included in a previous column entitled "Economic stability is coming to Paris". Let us follow this analysis. 
It is very normal to have any decision or legislation or to make advantages and disadvantages and when the tilt of the balance in favor of advantages, we are in the right way and the right and otherwise, if the balance in favor of defects we are in the wrong way. 
I will discuss in my subject this important measure is the "currency window" If we follow the procedure of the Central Bank of Iraq by adopting any window to control the market and determine the adverse effects of the fluctuation of the dollar exchange rate on the monetary stability we have seen through several turns during which the central to violent criticism according to different views and views, The currency window applies to it as a theory of advantages and disadvantages.
One of the fiercest criticisms is that it is a means of smuggling currency, and this aspect falls within the balance of flaws from the vision of this team to the loss of hard currency and the impact of the Federal Reserve guarantor of the future of the country of acute crises. 
On the other hand, the Central Bank has defended its adoption of the window as the best means available to provide local liquidity to meet the needs and requirements of the state of the national currency and salaries of employees and retirees and other uses, because the state's revenues are in foreign currency being a state of rent and oil source of its  
budgets. 
The Central Bank was able to convince the parliamentary committee that was following the event after reviewing the mechanism of work and how the central bank was able to provide liquidity and preserve the value of the national currency. 
In the previous column I have pointed out that monetary policy has been able to achieve monetary stability at a fixed price equal to the official exchange rate with the parallel "price of trade" has been achieved stability after this price has passed all attempts and thus succeeded in monetary policy to stabilize the meaning of that He came close to economic stability and my prediction came in his place. 
What does economic stability mean? 
Means that the process of rebuilding the country will start with confidence because the economic stability restore investor confidence in the Iraqi market and its ability to secure the requirements and requirements of construction.
Thus, the balance was tilted in favor of the advantages of the currency window and thus the central bank was able to put its mark in the way of the return of companies. In view of the success of the monetary policy, its engineer obtained an international Arab evaluation by nominating him as the best governor at the level of the Arab countries in 2018 and thus proved his good management of monetary policy and the development of the performance of the private banking sector. 
We have to maintain these achievements for the sustainability of stability and this requires constant coordination between the financial and monetary policies and this will be within my next follow-up.[/

Edited July 1, 2018 by 6ly410

[navira]

6ly410, good news...bro, our very own thug posted this in the rumor section...all good news. 

[6ly410]

9 minutes ago, navira said:

6ly410, good news...bro, our very own thug posted this in the rumor section...all good news. 

Ah i did not see that...please delete if you want too mods thanks..anyway... let’s get this party started 

Edited July 1, 2018 by 6ly410

[jmartin1145]

I wonder why Thugs would post this in the rumors section if true.