CBI News 07/01/2018

[ChuckFinley]

6 minutes ago, NoviceInvestor said:

Yours is a realistic estimate in Iraq's time mode but to read the posts of some it is "soon" "sooner" or "imminent" ...   in my mind skepticism is abundant with the reality of the workings of the Iraqi Political system coming in a close second.  An election was held six weeks ago almost and still no seated Government. Quite frankly it beggars belief .

I think the CBI is doing a great job. I am thinking that this chunky money is a factor. Look at all the things the CBI has done to bring it in? They have told them the old and damage notes note to be accepted. They need to trade them in, open accounts, selling gold  and going to the ecard. That is just to mention a few.

[3n1]

6 minutes ago, ChuckFinley said:

They have told them the old and damage notes note to be accepted. They need to trade them in, open accounts, selling gold  and going to the ecard.

 

... and can't forget the latest bank banner out front , deposit your dinar now to be put in the free dinar lotto giveaway .

[ChuckFinley]

29 minutes ago, 3n1 said:

 

... and can't forget the latest bank banner out front , deposit your dinar now to be put in the free dinar lotto giveaway .

That is absolutely correct. Sounds like someone is pushing to get that chunky money off the street.  

[yota691]

Banker: The efforts of the Central Bank and the Association of Private Banks resulted in the exit of Iraq from the list of countries under the monitoring and follow-up

 

Central Bank of Iraq

Banks Economy News Baghdad: The expert banking, Abdul Rahman Al-Sheikhli, that the exit of Iraq from the list of countries under the monitoring and follow-up due to efforts exerted by the Central Bank and the Association of Private Banks. "Iraq was just around the corner in the black list of money laundering and terrorism financing," Sheikhli said in an interview with Al-Iktissad News. "Law No. 39 of 2015 on the money laundering issued by the central government has helped to remove the danger, Banking sector. " He pointed out that "Iraq has already committed to the standards of the financial working group of 49 criteria, which prompted the latter to lift Iraq from the list, which was afraid to fall in," noting that "Iraq has a rule of observers in the fight against money laundering accredited by theinternational cams " . Shaikhli pointed out that "the Association of Private Banks formed a compliance and money-laundering control body, which organized courses involving many employees of the banking sector and contributed to the creation of cadres know what they have and what they have in terms of money laundering and financing of terrorism." On the return of the work of Correspondent Bank in Iraq, the banking expert, "Most correspondent banks were afraid to work in Iraq, which is a legitimate fear in the absence of security and economic stability." He concluded by saying that "Correspondent banks will resume business in Iraq after the qualitative jumps jumped by the banking sector." In turn, the official spokesman of the Central Bank, in the name of Brahimi, said in an interview with "Economy News" that foreign investors before entering any country looking for the classification of that country in the financial work group, and that the exit of Iraq from the lists of the group means the entry of more investors to him " . With regard to the historical dimension of the classification of Iraq in this area, Brahimi said that "since 2012, the FATF has referred to non-compliance by Iraq with 15 of its key recommendations to combat money laundering." He pointed out that "the Iraqi side has worked since that date to meet these requirements through a strategic plan was implemented in two phases, the first was the technical measures, starting with the legislation of the law against money laundering and financing terrorism No. 39 of 2015 in accordance with international standards." He added that "the second phase was the activation of measures to combat money laundering and terrorism financing, as many provisions have been issued relating to crimes of money laundering and activating measures to combat the financing of terrorism through the work of the Committee on the freezing of terrorist funds." "New sectors have been covered by anti-money laundering measures such as the Securities Commission, the Insurance and Non-Profit Organizations," he said. He concluded by saying that "after the financial work group achieved in its field visit to Iraq in May of this year, at its meeting held in Paris for the period from 2429/20/2018 to meet Iraq's obligations and its withdrawal from the follow-up to the strict follow-up every two years." Number of views 8   Date added 04/07/2018

[ChuckFinley]

Good morning Yota.

 

Excellent news see.  

[yota691]

1 hour ago, ChuckFinley said:

Good morning

Good Morning Chuck and all of DV...Happy 4th of July Everyone....God Bless the USA...



 

[gregp]

Good Morning DV’s!

Happy 4th!

[gregp]

1 hour ago, yota691 said:

Banker: The efforts of the Central Bank and the Association of Private Banks resulted in the exit of Iraq from the list of countries under the monitoring and follow-up

 

Central Bank of Iraq

Banks Economy News Baghdad: The expert banking, Abdul Rahman Al-Sheikhli, that the exit of Iraq from the list of countries under the monitoring and follow-up due to efforts exerted by the Central Bank and the Association of Private Banks. "Iraq was just around the corner in the black list of money laundering and terrorism financing," Sheikhli said in an interview with Al-Iktissad News. "Law No. 39 of 2015 on the money laundering issued by the central government has helped to remove the danger, Banking sector. " He pointed out that "Iraq has already committed to the standards of the financial working group of 49 criteria, which prompted the latter to lift Iraq from the list, which was afraid to fall in," noting that "Iraq has a rule of observers in the fight against money laundering accredited by theinternational cams " . Shaikhli pointed out that "the Association of Private Banks formed a compliance and money-laundering control body, which organized courses involving many employees of the banking sector and contributed to the creation of cadres know what they have and what they have in terms of money laundering and financing of terrorism." On the return of the work of Correspondent Bank in Iraq, the banking expert, "Most correspondent banks were afraid to work in Iraq, which is a legitimate fear in the absence of security and economic stability." He concluded by saying that "Correspondent banks will resume business in Iraq after the qualitative jumps jumped by the banking sector." In turn, the official spokesman of the Central Bank, in the name of Brahimi, said in an interview with "Economy News" that foreign investors before entering any country looking for the classification of that country in the financial work group, and that the exit of Iraq from the lists of the group means the entry of more investors to him " . With regard to the historical dimension of the classification of Iraq in this area, Brahimi said that "since 2012, the FATF has referred to non-compliance by Iraq with 15 of its key recommendations to combat money laundering." He pointed out that "the Iraqi side has worked since that date to meet these requirements through a strategic plan was implemented in two phases, the first was the technical measures, starting with the legislation of the law against money laundering and financing terrorism No. 39 of 2015 in accordance with international standards." He added that "the second phase was the activation of measures to combat money laundering and terrorism financing, as many provisions have been issued relating to crimes of money laundering and activating measures to combat the financing of terrorism through the work of the Committee on the freezing of terrorist funds." "New sectors have been covered by anti-money laundering measures such as the Securities Commission, the Insurance and Non-Profit Organizations," he said. He concluded by saying that "after the financial work group achieved in its field visit to Iraq in May of this year, at its meeting held in Paris for the period from 2429/20/2018 to meet Iraq's obligations and its withdrawal from the follow-up to the strict follow-up every two years." Number of views 8   Date added 04/07/2018

 

Awesome. News!!!!

 Thanks, Master Yota!!!

[blueskyline]

Thank You Yota . GM and Happy 4th Everyone . 

[Butifldrm]

Association of Iraqi private banks concludes the cycle of "banking branch management"

  

 Banks

Economy News Baghdad:

The Association of Iraqi Private Banks concluded on Thursday the session of "Management of Banking Branches" at its headquarters in Baghdad, with the participation of 40 trainees from government and private banks and the Central Bank. 
The closing ceremony of the training course was held in cooperation with the Joint Development and Consultations Group in Jordan, a member of the Board of Directors of the Central Bank Dr. Majid Al-Souri. 
At the end of the training course, which was attended by "Economy News", the Executive Director of the Association of Iraqi Private Banks, Ali Tariq, organized in cooperation with the Joint Efforts Group for Development and Consultancy, the course of banking branches management to familiarize participants with the fundamentals of work in banking operations, types and scenarios, In the management of banking branches and the need to be available in the branch manager. "
"The Central Bank has decided to increase the working hours of training for employees in the banking sector and its adoption in the promotion of employees and heads of departments in banks." 
He explained that "the training courses held at the headquarters of the Association aims to develop human capabilities working in the banking sector by using the latest technology in the world."

 

Views 29   Date Added 05/07/2018

http://economy-news.net/content.php?id=12831

[ChuckFinley]

On 7/4/2018 at 8:04 AM, yota691 said:

Good Morning Chuck and all of DV...Happy 4th of July Everyone....God Bless the USA...



 

Awsome Yota.   

[yota691]

Exit the follow-up area

12/7/2018 12:00 am  Dr. Basem Brahimi  Iraq emerges from the follow - up area, this is announced by the FATF (FATF), and the importance of this announcement to the fact that the presence of any country in the gray list or black or under the follow - up tight within the assessment of the group mentioned means a weakness in the system of anti - corruption and the financing of terrorism Which makes the classification of the country high risk and thus leads to the reluctance of investors to enter it. Since 2012, FATF has indicated that Iraq has not complied with 15 of its main recommendations related to combating money laundering and registered within the limits of the provisions of the Note. In order to change this reality, Iraq worked to meet these requirements through a number of measures, foremost of which was the issuance of the AML / CFT Law No. 39 of 2015, as well as the issuance of the rules of due diligence towards customers of financial institutions No. (1) of 2017, The establishment of the Anti-Money Laundering and Terrorism Financing Office in the Central Bank and granting it full independence and the authority to receive and analyze communications and refer them to the judiciary.  In addition, Iraq has issued the national strategy to combat money laundering in addition to the accession and ratification of the International Convention for the Suppression of Terrorism as well as the conclusion of bilateral agreements with countries to exchange information and legal assistance on the recovery of money and people. In the same context was formed a committee to freeze terrorist funds in accordance with the resolutions of the Security Council In this regard, No. 1267 and No. 1373.  That the exit of Iraq after the completion of the requirements of the Financial Action Group will have positive results, most notably contributing to the process of opening correspondent accounts of the Central Bank and local banks with the world, including accounts in the currency of the euro as well as receiving and sending remittances of Iraqis easily where will be dealing with these transfers according to simple care after it was Treated with strict care. On the other hand, economic relations with international investment companies and lending institutions will become stronger and easier as the interest rates fall.  It is an important step for Iraq has been achieved by significant efforts made by the relevant authorities, including the Central Bank of Iraq and the Office of the fight against money laundering and we now maintain this achievement first and take advantage of possible opportunities to support the Iraqi economy second, according to the data of the new phase  .

[6ly410]

http://economy-news.net/content.php?id=12910Iraq comes out of the follow-up area, announced by the FATF. The importance of this announcement is that the presence of any country in the gray or black list or under the strict follow-up within the evaluation of the group mentioned means that there is weakness in the system of combating corruption and financing terrorism, High risk and thus lead to the reluctance of investors to enter it, has been noted since 2012 since the failure of Iraq to comply with 15 of the recommendations of the main recommendations on the fight against money laundering and recorded up to seven hundred notes.In order to change this reality, Iraq worked to meet these requirements through a number of measures, foremost of which was the issuance of the AML / CFT Law No. 39 of 2015, as well as the issuance of the rules of due diligence towards customers of financial institutions No. (1) of 2017, The establishment of the Anti-Money Laundering and Terrorism Financing Office in the Central Bank and granting it full independence and the authority to receive and analyze communications and refer them to the judiciary.In addition, Iraq has issued the national strategy to combat money laundering in addition to the accession and ratification of the International Convention for the Suppression of Terrorism as well as the conclusion of bilateral agreements with countries to exchange information and legal assistance on the recovery of money and people. In the same context was formed a committee to freeze terrorist funds in accordance with the resolutions of the Security Council In this regard, No. 1267 and No. 1373.That the exit of Iraq after the completion of the requirements of the Financial Action Group will have positive results, most notably contributing to the process of opening correspondent accounts of the Central Bank and local banks with the world, including accounts in the currency of the euro as well as receiving and sending remittances of Iraqis easily where will be dealing with these transfers according to simple care after it was Treated with strict care. On the other hand, economic relations with international investment companies and lending institutions will become stronger and easier as the interest rates fall.It is an important step for Iraq has been achieved by significant efforts made by the relevant authorities, including the Central Bank of Iraq and the Office of the fight against money laundering and we now maintain this achievement first and take advantage of possible opportunities to support the Iraqi economy second, according to the data of the new phase.

Edited July 13, 2018 by 6ly410

[Christoph]

It's been quiet so far this week... Not much hurdles left for Iraq and we are hopefully approaching an excellent window for the RV to go down. 

[gregp]

If this doesn’t inspire us I don’t know what will.  

Great find!

[6ly410]

yup..it is coming in my opinion..

[Laid Back]

Iraq is on the way to an open market economy, with and international recognize currency.

 

Go iraq

Go CBI

Go international 

Go RV 

[davis411]

3 hours ago, gregp said:

If this doesn’t inspire us I don’t know what will.  

Great find!

Davis will inspire you

come on people 

Davis is a great find 

vote 

[Christoph]

21 minutes ago, Laid Back said:

Iraq is on the way to an open market economy, with and international recognize currency.

 

Go iraq

Go CBI

Go international 

Go RV 

Hopefully financial freedom is near by for everybody and their families. High spirits here!

[Laid Back]

2 minutes ago, Christoph said:

Hopefully financial freedom is near by for everybody and their families. High spirits here!

Amen to that🙏🏼😊

[6ly410]

Let’s go RV 

[6ly410]

1 hour ago, Laid Back said:

Iraq is on the way to an open market economy, with and international recognize currency.

 

Yes 

[ChuckFinley]

10 hours ago, gregp said:

If this doesn’t inspire us I don’t know what will.  

Great find!

For sure, things have been crazy in Iraq but the CBI has been moving forward.  

[Butifldrm]

 

2018/08/02 09:14

• Number of readings 111
•  

Central Bank: Iraq has regained world confidence in its banking system

 

 

BAGHDAD (Reuters) - The International Monetary Fund (FATF) decided to withdraw Iraq from the list of countries under its monitoring and monitoring of international funds, according to the central bank on Thursday (August 2, 2018) A report to the prosecutor over the past period on suspicion of money laundering or financing terrorism.

"The decision of the International Financial Action Organization (IAF) has helped to gain foreign financial transactions for Iraq, which is very reliable for countries, banks, foreign correspondents and financial institutions," the central bank governor Ali al-Alak said, noting that they fear dealing with countries that do not have discipline. Or full control over anti-money laundering and terrorist financing.

Al-Alak explained that Iraq is currently attractive to international financial and investment institutions and once the announcement of raising the attention of all international financial institutions, indicating that among the indicators of serious country in this framework,

He pointed out that Iraq's financial and monetary transactions are moving in the right direction in conjunction with the development of regulatory systems and laws as all banks were required to establish anti-money laundering units and compliance units, while ensuring the independence of the money laundering and terrorist financing.

Follow the obelisk

 

http://almasalah.com/ar/news/145884/البنك-المركزي-العراق-استعاد-ثقة-العالم-بنظامه-المصرفي

 

 

[yota691]

Iraq has regained world confidence in its banking system

02/8/2018 12:00 am    After being removed from the list of controlled States Baghdad / Tareq al-Araji The central bank reported that the decision of the International Financial Action Organization (FATF) to withdraw Iraq from the list of countries under the monitoring and follow-up of international funds, led to the confidence of States in financial dealings with Iraq, while revealed the transfer of 180 reports to the prosecution during the last period on suspicion of money laundering Or the financing of terrorism.  "The decision of the International Financial Action Organization has helped to acquire foreign financial transactions of Iraq, a great credibility for countries, banks, foreign correspondents and financial institutions," said the governor of the Central Bank, Ali al-Alak, noting that these authorities are afraid to deal with countries that do not have discipline Or full control over anti-money laundering and terrorist financing. Al-Alak explained that Iraq is currently attractive to international financial and investment institutions and once the announcement of raising the attention of all international financial institutions, indicating that among the indicators of serious country in this framework,  He pointed out that Iraq's financial and monetary transactions are moving in the right direction in conjunction with the development of regulatory systems and laws as all banks were required to establish anti-money laundering units and compliance units, while ensuring the independence of the money laundering and  terrorist financing.