Cabinet approves anti-money laundering and terrorism financing law

[yota691]

Parliamentary Finance confirm that the central bank weakened the fight against money laundering

 

Central Bank of Iraq

 

 

 

Author: es Editor: sz reporter: st

Number of Views: 33

 

11/07/2015 13:53

 

Tomorrow Press / Baghdad: the parliamentary finance committee, confirmed Tuesday that the central bank management is weak in the fight against money smuggled out of the country mechanisms, calling on the central bank to identify gaps in the Money Laundering Act for the purpose of processing.The committee member said Jabbar Abdul Khaliq for "tomorrow Press "," The Finance Committee recommended that the Central Bank of standardization procedures through banks that buy foreign currency and securities for the purpose of controlling the prices of the dinar against the dollar, "noting that" there is a clear lack of prevention of money smuggling abroad. " He added that "hopefully in the weeks few are modified Money Laundering Act and presented to the Presidency of the Council of Representatives for approval, "pointing out that" the law needs to be a lot of banking instruments for the purpose of his accession with the financial and economic reality. " He called on the central bank to "identify gaps in the Money Laundering Act for the purpose of processing of by the Finance Committee. " The Council of Ministers approved during its regular Tuesday (June 30, 2015), on the draft anti-money laundering and terrorism financing law.

[yota691]

Anti-Money Laundering Act of great interest to experts

 

 

       

7/13/2015 0:00 

Academic: effective control devices required for its implementation 

 BAGHDAD - Imad emirate 

accounted project money laundering and terrorism financing law recently approved by the Cabinet on his way to the House of Representatives for the legislation concerned with the economy and interest experts.Academic d. Said teaching clinic at the Faculty of Administration and Economics at the University of Anbar counting the phenomenon of money laundering of the most dangerous era crimes They come as a result of the activities of crime check illegal financial returns, so had to lend legitimacy recipe that result from financial transactions to deal with it in banks. And between happy that the money laundering process generates large amounts of money such as the trade of drugs and arms smuggling and financial corruption, embezzlement and other, washing the funds criminal activity multi-the converging points of money, banks and experts Electronic Tech, so I find that such crimes indicate highly experienced for the perpetrators and that go beyond the national borders of countries making it a crime Organization is difficult to control without a comprehensive international effort and cooperation.        

He pointed out, the economic expert d. Clinic that there are many of legislation governing the banking institutions manage them Resolution No. (10) of 1997 which provides for the confiscation of movable and immovable property belonging to someone illegally and the transfer of this property to a third party with a view to evading prosecution of law, as provided by law the said penalties and fines in cases of non-news about this illicit money, 

and hinted that 2004 saw an amendment to ensure that the issue of terrorism and its financing to the phenomenon of money laundering came washing Iraqi money to the 2004 law puts control procedures due to institutions, in particular the banking ones, and noted that this Law came identical with the requirements and rules issued by the United Nations Organization or regional bodies and international organizations in this regard, among the articles of this law criminalizing money laundering and set up offices for reporting money laundering operations and encourage the achievement of international cooperation and the exchange of information and reduce the confidentiality of information and to allow advertising suspicious information to the parties and the competent authorities and the adoption of reports templates for disclosure of information about a given volume of financial transactions and to require institutions to record-keeping private financial Bamaamladtha and keep them with an effective regulators on institutions verify the application of programs to combat money laundering and to require institutions sufficient to verify the identity of customers and beneficial owner of the financial transaction. 

He said economic expert d. Clinic by saying: for the purpose of application of this law has been formed Money Laundering Office in the Central Bank of Iraq has been linked to the highest authority in the Iraqi Central Bank, which the governor and to activate its role and give the powers and authority of the decision identified the materials used of Law 93 of 2004, it has directed all banks and individuals dealers in this area and financial markets to comply with the provisions of this law it has formally applied from the date of 15.09.2006. 

  and on the question (morning) what appeared symptoms money laundering in Iraq. D academic said. Clinic Yes, there are symptoms have implications and repercussions began to impact on the social and economic balance, but there are no numbers and stats minute size, and the judicial authorities are not submitted or discussed So far, no such process, there are many manifestations disclose the spread of the phenomenon of money laundering and those manifestations of the phenomenon of the spread of the establishment of phantom companies and some of the cars and some restaurants and stores that sell building materials and the purchase and sale of land and real estate and some travel agencies and some satellite stations trade. He concluded d. Clinic on to say: You can determine the process that helps community individuals and institutions state to reduce the phenomenon of money laundering through the issuance of anti-money laundering legislation and that trend last law, which requires building effective SAIs committed to the laws regulators and regulations relating to the financial and banking system and the commitment of financial institutions steps to verify the identities of people dealing with it, particularly traders with money abnormal and ensure legal legitimacy to that money and coordination between the other banking regulatory institutions, including the integrity and give the central bank an important role in the fight against this phenomenon with not limited role on the issue of the legal framework as well as the activation of institutional building and do not let the fact that institutions or fake companies or activities that cooperate with them and with foreign bodies under cover reconstruction or import or export companies without the knowledge of the state and official approvals issued them. 

[yota691]

Parliamentary Finance: There are no accurate statistics on money laundering

 

 

 

 

Author: ara Editor: ap reporter: ay

Number of Views: 28

 

13/07/2015 14:06

 

Tomorrow Press / Baghdad: Finance Committee confirmed on Monday, the absence of any figures or accurate statistics on the money that take place in Iraq laundering operations, calling on the concerned authorities to adopt international standards. The committee member said Jabbar Abdul Khaliq for "tomorrow Press", that "operations money laundering have negative repercussions began to affect the social and economic balance, but there are no figures or precise figures on its size. " said Abdul Khaleq that "there are many manifestations disclose the spread of the phenomenon of money laundering, including the spread of the phenomenon of the establishment of phantom companies and some of the motor trade and some restaurants and stores that sell building materials and the purchase and sale of land and property and some of the travel agencies, "he said." These are all indications of the existence of money laundering operations in Iraq. " He said Abdul Khaliq that "the success of the anti-money laundering operations are not through legislation, law recently approved by the Council of Ministers and pushed him to the House of Representatives for a vote, but it is through the building of effective control devices comply with the laws regulators and regulations relating to the financial and banking system, as well as a commitment to financial institutions to verify the identities of people dealing with it, especially traders with money abnormal and ensure legal legitimacy to that money and coordination between the banking institutions and regulatory and other ones of integrity. "He noted member of the Finance Committee that "it is necessary to give the central bank an important role in the fight against this phenomenon with not limited role on the issue of the legal framework." declared the Council of Ministers, Tuesday June 30, 2015, approval of the draft anti-money laundering law and the financing of terrorism.

[yota691]

Parliamentary Finance: corruption is still the decision-maker in Iraq, the Dawa Party

Under section: economic Dated: July 12, 2015

 

 

 BAGHDAD / News Network Iraq confirmed the parliamentary finance committee, on Sunday that the rampant corruption and mismanagement of public funds in government institutions threatens to collapse Albuldoukal committee member Saleh al-Hasnawi economy in a press statement today: rampant corruption in government institutions since 2003 and so far is equal to the largest amount of funds disbursed for investment purposes, and that the funds in 2014, with the exception of the whole operational Mahdorh.waodh that "the year 2015 is witnessing a severe financial crisis requires concerted efforts of all government institutions concerned of the Ministry of Finance and the Central Bank to reduce corruption." He continued that "if it has spread to more than corruption that corruption will become in the coming period, the scourge can not be treated and would cause the collapse of the Iraqi economy as a whole." The Finance Committee revealed, in April 2015 for the loss of the country about $ 360 billion, due to corruption and money-laundering operations, since 2003 and that Iraq's imports from the sale of oil since 2006 until 2014, amounted to about $ 550 billion, and 60% of that amount , or about $ 360 billion, were sold in the currency auction in Baghdad organized by the Central Bank of Iraq, was transferred out of the country by civil companies and offices banking in Gaamadh.kma circumstances that Iraq is this money lost due to corruption and money laundering, where the eligibility of banks to buy currency and transfer abroad under the pretext of buying goods and goods which are not up to Iraq only a little.

 

Nassif: Iraq broke the world record in corruption

Under section: political Dated: July 13, 2015

 Baghdad / Iraq News Network expressed an MP for the rule of law high Nassif, Monday, its solidarity with the media Adnan al-Tai, who is under great pressure to prevent him from presenting workshops on corruption mafias in his show on the Tigris Alvdhaiah.oukalt Nassif said in a statement: "The Iraq broke record in corruption at the level of the world to the existence of mafias giant of corruption made Iraqi people suffer under poverty despite the enormous wealth in this country, ".opent that" at a time when thousands of our sons volunteered to meet the call of jihad and sacrifice their lives and achieve victories in the simplest possibilities in order to Aatrqua chance for Doaash in the desecration of the soil and their home, still unfortunately mafias corruption eating away at the body of the Iraqi state and looting people's money and increase his poorest and most disadvantaged "She added," We have emphasized more than once that corruption is the other face of terrorism must be eradicated and fight with the same determination that we fight the terrorism, and faced with our call to journalists, intellectuals and politicians honest and civil society organizations to combat corruption and detect corrupt and shamed, and was a fellow media Adnan al-Tai was among those who volunteered for this noble task, but unfortunately exposed today to prevent him from presenting episodes of his program on the Tigris channel where some mafias corruption exposes of big pressures by hosting MP Haitham al-Jubouri, who took it upon himself to expose many spoilers evidence and documents ".utabat" We are at a time when we express our solidarity with fellow al-Tai, we renew our call for each national honorable that they contribute in this campaign all they can do, to put an end to the corrupt who They rampaged and looted public funds capabilities of the Iraqi people. "

[yota691]

Global financial institutions slowed Iraq until October to approve the money laundering law

 

 

 

 

 

Author: ara Editor: ap reporter: we

Number of Views: 5

 

07/27/2015 14:17

 

Tomorrow Press / Baghdad: detection of economic and investment commission parliamentary member Ahmed Kanani, Monday, the World Bank and other international financial institutions gave Iraq until next October as the date for the adoption of anti-money laundering law. He warned Kanani in a statement received "tomorrow Press" "of the consequences of delayed House of Representatives to pass anti-money laundering law and the financing of terrorism, which he did not receive attention of the Presidency of Parliament. " He explained that "Parliament has not been given so far significance required for this vital law, which depends upon the continued continue Iraq economically with the outer perimeter and the focus of Parliament on issues secondary. " Kanani said that "Iraq would be included in the black list countries in economic deal and cash other than lack of enactment of this law," adding that "this measure will eliminate the purchasing power of the Iraqi dinar and put the Iraqi Central Bank in a corner makes him isolated from the world's Foundation ". He said the "deadline only two months left them almost on the head of the House of Representatives that the law be included on the agenda, but the nearest session and will be responsible for the punitive economic measures to be taken by the world against Iraq."

[yota691]

Global financial institutions slowed Iraq two months to pass anti-money laundering and terrorism financing law

By Mohammed Emad one forty-nine 7/27/2015 | Views: 120

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 Brother - Baghdad

 He said the economic and investment commission parliamentary member Ahmed Kanani that the World Bank and other international financial institutions gave Iraq until next October as the date for the adoption of anti-money laundering law.

Kanani warned in a press release received today for News Agency (et) a copy of "the consequences of the delay in the approval of the House of Representatives anti-money laundering and terrorism financing law, who said he did not receive attention of the Presidency of Parliament.

Kanani said   that "the parliament has not yet paid the required importance to this vital law, which depends upon the continuation of economically connect Iraq with the outer perimeter and the focus of the Chamber of Deputies on the minor issues."

He added that "Iraq would be included in the black list countries in handling the financial and economic transformation not unlike the enactment of this law, the measure would eliminate the purchasing power of the Iraqi dinar and put the Iraqi Central Bank in an awkward predicament makes him isolated from the world organization."

And between Kanani said that "the deadline only two months left them almost on the head of the House of Representatives that the law be included on the agenda for the nearest session, but will be responsible for the punitive economic measures to be taken by the world against Iraq."

[Laid Back]

BIG step forward.!

Every piece of the puzzle is falling in place.!

[MyLadiesDaddy]

Just in time for Sep. And the Year of Jubilee.

[DinarThug]

CNN. Broadcasting While Giving 2 Months Notice !

 

 

 

World Bank gives Iraq two months to approve the anti-money laundering law

 

 

Ahmed Kanani said Monday Iraq has until next October as the date for the adoption of anti-money laundering law.

 

detection for economic and investment commission parliamentary member Ahmed Kanani, Monday, for the granting of the World Bank and international financial institutions Other, Iraq until next October as the date for the adoption of anti-money laundering law.

He warned in a press statement Kanani News Agency Baghdad International / WAP / received a copy of it, “the consequences of the delay in the House of Representatives to pass anti-money laundering and terrorism financing law, which did not receive attention of the Presidium of the parliament.”

“The parliament has not yet paid the required importance to this vital law, which depends upon the continuation of economically connect Iraq with the outer perimeter and the focus of the Chamber of Deputies on the minor issues.”

He added that “Iraq would be included in the black list countries in handling the financial and economic transformation not unlike the enactment of this law, the measure would eliminate the purchasing power of the Iraqi dinar and put the Iraqi Central Bank in an awkward predicament makes him isolated from the world organization.”

And between Kanani said that “the time limit was only about two months and left them on the head of the House of Representatives that the law be included on the agenda for the nearest session, but will be responsible for the punitive economic measures that the world has to be taken against Iraq” .

LINK

[FatMan]

Sounds like the world is getting tired of Iraq dragging their Feet! Light the fire guys

THANKS Thug

Edited July 28, 2015 by FatMan

[WheresmyRV?]

Can you say pressure?

[sandfly]

THANKS CLOWN

[yota691]

Parliamentary Council of Ministers of Finance calls for sending anti-money laundering law to parliament

 

 

 

 

Author: as the editor: sz reporter: we

Number of Views: 105

 

30/07/2015 11:33

 

Tomorrow Press / BAGHDAD: A member of the parliamentary finance committee, Masood Haider, the presence of the names of accused of smuggling currency and money laundering in the Iraqi judiciary and the banking sector and the Central Bank, asking the Council of Ministers to send the draft Anti-Money Laundering Act to the House of Representatives, calling on the executive bodies to take the role in the take legal action against them. He said Haider for "tomorrow Press," that "the Finance Committee opened a money laundering and smuggling of currency file and formed committees to follow-up during the past few months," explaining "After increasing the price of the currency we pointed to the existence of mafias are supported by some political decision-makers in Iraq ". He pointed out that "the Committee met with the Central Bank and other financial institutions was addressed to a lot of things which led to the depreciation of the dollar," pointing out that "the draft anti-money laundering law is the Presidency of the Council of Ministers." He called Haider, the Council of Ministers to "send anti-money laundering law to the parliament for consideration and legislation because it helps in the fight against financial corruption that exists in the banking sector."

[yota691]

Parliamentary Economy: Iraq before the situation "embarrassing" for the failure to approve the money laundering law

Economy and tenders

 Since 08/01/2015 20:33 pm (Baghdad time)

Special scales News

He stressed the economic and investment commission parliamentary member Ahmed Salim, Saturday, that the economic policy of Iraq is clear and in place on the ground, pointing out that the failure to approve the anti-money laundering law will put Iraq in an economic position "embarrassing".

He said Saleem's / scales News / "The economic policy pursued by the government is clear that not operate on the ground, which led to the deterioration of the Iraqi economy and caused financial problems for the country", adding that "the World Bank warned Iraq several times for not passed anti-money laundering law."

He said the economic and investment commission member of the parliamentary "The anti-money laundering law is very important and prevents laundering and smuggling money out of the country operations and maintains Iraq's economy and domestic market as well as global," noting that "the failure to approve this law in the coming days will cause problems and" embarrass "great for the economy Iraqi ".

This "revealed the economic and investment commission parliamentary member Ahmed Kanani, in, earlier, the World Bank and other international financial institutions gave Iraq until next October as the date for the adoption of anti-money laundering law" .anthy 29/28

[bigwave]

BIG step forward.!

Every piece of the puzzle is falling in place.!

Laid Back,

 

I love your optimism!

[trvlr787]

It still has to go through parliament. Things always seem to get bogged down there

["Fred"]

Laid Back,

I love your optimism!

It's always good to hear the positive vibes instead of some of the Debbie downers we have on here. Keep it going LB.

[Officiallytook]

Gotta love your work yota. Much appreciated...

Time to buckle up those trousers and step out into the world Iraq.