Parliamentary Committee demanding controls private banks to curb smuggling of currency

[alan_coaks_3]

6 - 10 - 2012

The parliamentary Finance Committee asked private banks dealing with the sale of hard currency in certain controls to curb smuggling dollars abroad. Deputy Chairman of the Committee and the Kurdistan Alliance Deputy Ahmed Hassan iceberg l/JD/"private banks must deal with sale of foreign currency in accordance with the regulations and instructions are included in the Bank's records and documentation for those seeking to obtain currency. The Vice-Chairman of the Committee, stressed financial and parliamentary deputy from the Kurdistan Alliance on these controls should be immutable. The Central Bank of Iraq was revealed to him by a specialized offices in monitoring and controlling the movement of money inside Iraq to counter money laundering cases that occur. Director of research and statistics in the Bank's Abdul Nabi in Walid told former reporter/agency/JD, "Central Bank of Iraq emphasized through controls and restrictions established by the law (930) on combating money-laundering and smuggling of currency in the country." He added, "there is coordination between the Iraqi banks and laundering offices on the Ministry of the Interior on the other hand". Abdel Nabi said, that the Central Bank closely monitors the continued movement of cash inside Iraq, along with control of volume of exports and imports of foreign currencies in various border crossings. " The Director of the statistical research in the Central Bank, "the movement of funds are all smoothly unimpeded".

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