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The central bank, banks and civil auction arcade laundering and smuggling money out of Iraq


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Iraq Stock Exchange


 

Author: AR, HH 
Editor: AR, HH 21/09/2016 13:02 Number of Views: 230 

 


 

 

Long-Presse / Baghdad

Uncover Iraq Stock Exchange, Wednesday announced the launch of the trading system instructions via the Internet, as he emphasized that the service will be launched in the first quarter of 2017, pointed to the provision of five brokerage firms to work the system.

The executive director of the market, Taha Ahmed Abdul Salam said in an interview to the (long-Presse), that "the Iraq Stock Exchange issued a trading instructions via the Internet to investors after obtaining the required official approval in accordance with law and that the procedures and mechanisms and systems required by the Iraq Stock Exchange and brokerage firms include taken in order to obtain a license to provide this service for investors, "noting that" the service will be launched in the first quarter of 2017 ".

Abdul Salam said that "the market identified instructed disclosures required of brokerage firms, which contain procedures to disclose the risks associated with an investment models dealing with investors (Know Your Customer KYC), and commissions that Satkadaha mediator, as well as the requirements are carried out by investors to agree to their trading via the Internet." .

Executive Director of the market and continued that "the five brokerage firms submitted its application to the market to participate in the trading system via the Internet for investors, namely, (urban company, Rafidain, Spring Company, Carmel Inc., Elaf," pointing out that "the Iraq Stock Exchange takes several months ago organize lectures and workshops for brokerage firms and investors for the purpose of definition of these services. "

The Iraq Stock Exchange, announced Wednesday (20 April 2016), his intention to work remote circulation through the end of this year system in 2016, as he emphasized that it will contribute to "activate" trading and "attract" investment and "streamline" the work procedures.

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Economy News / Baghdad, Iraq Stock Exchange revealed the launch of the trading system instructions via the Internet revealing provide five brokerage companies to operate it, stressing about his forthcoming retirement with Arab companies to support the system. The executive director of the market, Taha Ahmed Abdul Salam, in a press statement I followed the "Economy News", the Iraq Stock Exchange issued a trading instructions via the Internet to investors after obtaining the required official approval according to law, "which includes the procedures and mechanisms and systems required by the Iraq Stock Exchange and companies mediation take in order to obtain a license to provide this service to investors. " He stressed Taha "The system will be launched in the first quarter of 2017," noting that the market identified instructed disclosures required of brokerage firms, which include "measures to disclose the risks associated with an investment models dealing with investors (Know Your Customer KYC), and commissions that Satkadaha mediator, as well as all the requirements are carried out by investors to agree to their trading via the Internet. Abdul Salam revealed that the five brokerage firms submitted a request to the market to participate in the trading system via the Internet for investors and is "urban company, Rafidain, spring company, Carmel Inc., Elaf company." He noted Abdul Salam that the Iraq Stock Exchange takes several months to organize lectures and workshops for brokerage firms and investors for the purpose of definition of these services. Abdul Salam confirmed that it is for the success and continuity of this project, "the market in the process of contracting with one of the Arab corporate systems and programming to use the regulations issued by which deals different and distinctive services, including "building sites to enable brokerage firms trading process via the Internet, and be compatible and connected with a data management system in the brokerage firm, as well as the system to be compatible with the trading system at the Iraq Stock Exchange. Abdul Salam He said that companies such as possible to provide a system that responds to all market instructions in circulation and deposit in addition to the financial statements, let alone enable the investor to trade himself after enable him to understand the cash tally prepared for the purchase and the tally of shares if he would like to sell. Abdel-Salam said he hoped the signing of the Convention in the month of October 2016. AJ
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Views 202   Added 09/21/2016 - 13:24   Last updated 22/09/2016 - 13:42   No. Content 5175
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Rise in the market value of companies in the stock market

 

 

   
 

 
 


9/24/2016 0:00 

BAGHDAD / Mustafa al - Hashimi 
 headed Iraq Stock Exchange to contract with one of the Arab corporate systems and programming for increased activation of the trading process through Alanturnt.ozkr weekly report of the Stock Exchange, seen by the «morning» he hoped the signing of theconvention in October next month and that the service is launching in quarter the first of the year 2017.  he added that these systems will be compatible and connected with the management system data in the brokerage firm so as to contribute to the rehabilitation of the investor to trade himself after enable him to understand the cash tally prepared for the purchase and the tally of shares if he would like to sell. in the same context of the Iraqi market index rose Securities in the last sessions last week to 3.69 percent at 568.66 points.  the market value of companies listed on the Iraq stock Exchange 8.241 trillion dinars during the week  ended twenty - second of this month. the report said the number of shares traded for the week 3 billion shares  compared with two billion shares last week, while the value of shares traded amounted to two billion dinars , compared to one billion dinars last week achieved through executing trades  numbered for the 1810 week deals compared to 1336 deal last week. It is said that the number of shares listed on the Iraq stock Exchange of 8 trillion and 973 billion shares, and the number of listed companies in the market 96 joint - stock company, of which 70 companies listed in the regular market and 26 companies listed in the second market.  according to the report the number of stalled companies has become the trading of non - commitment to provide annual disclosure and quarterly Authority and the market for 26 companies, and the number of remittance companies suspended from trading after the approval of the change of activity and until the issuance of license to practice from the central bank and complete the filing procedures and the inclusion of 3 corporate issuance. and investors trading (foreign) the number of shares bought from investors totaled Giralaracaan for this week 's 125 million shares, valued at 432 billion dinars during the implementation of the 52 transactions on the shares of eight companies. While the number of shares sold reached by non - Iraqi investors to this week 's 281 million shares valued at 183 million dinars through the implementation of 130 transactions on the shares of seven companies. On the other hand the Board of Governors approved the Iraq Stock Exchange trading instructions via the Internet for investors , which measures include brokerage firms to take in order to obtain a license to provide this service, including participation in the online trading system, and until Thursday , five brokerage firms submitted a request to participate in this system. Besides disclose the risks associated with investing and models to deal with investors ' action «know Your Customer» as board of Governors approved the commissions Satkadaha mediator. addresses the FAQ also requirements implemented by investors to agree to their online trading. and the Iraq Stock Exchange several months ago to organize lectures and workshops for brokerage firms and investors for the purpose of definition of these services. the Iraq Stock Exchange consists of 98 listed company with a total capitalization of more than 8 trillion shares representing banking , including sector 5 trillion shares and thus the most sector be traded and 65 percent of the total shares traded per day. The governing Iraq stock Exchange five trading sessions a week from Sunday to Thursday.
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09/25/2016 (00:01 pm)   -   the number of readings: 89   -   thenumber (3743)
 
 
Iraq Stock Exchange launches instructions online trading system for investors



 Baghdad / Acer Jabbar 
 

Iraq Stock Exchange revealed, on Saturday, announced the launch of the trading system instructions via the Internet, as he emphasized that the service will be launched in the first quarter of 2017, pointed to the provision of five brokerage firms to work the system. 
The executive director of the market , Taha Ahmed Abdul Salam said in an interview to (long - Presse), that " the Iraq Stock Exchange issued a trading instructions via the Internet to investors after obtaining the required official approval in accordance with law and that the procedures and mechanisms and systems required by the Iraq Stock Exchange and brokerage firms include taken in order to obtain a license to provide this service for investors," noting that " the service will be launched in the first quarter of 2017". 
He said Abdul Salam " the market identified instructed disclosures required of brokerage firms, which include disclosure of the risks associated with investing and models to deal with investors ' actions (know Your Customer ( Your KYC, and commissions that Satkadaha mediator, as well as all the requirements are carried out by investors to agree to their trading via the Internet. " 
He continued , executive director of the market that" five brokerage firms submitted a request to the market to participate in the trading system via the Internet for investors , namely , (urban company, Rafidain, spring company, Carmel Inc., Elaf ), pointing out that " the Iraq Stock Exchange takes several months to organize lectures and workshops for brokerage firms and investors for the purpose of definition of these services." 
The Iraq Stock Exchange, it announced Wednesday (20 April 2016), his intention to work trading system remotely through the end this year 2016, as he emphasized that it will contribute to "activate" trading and "attract" investment and "streamline" the work procedures.

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Twilight News / judges specialize money laundering issues revealed that millions of dollars were smuggled out of the country by traders and bankers and fictitious companies and money transfer.

Iyad Muhsin ligature judge defines money laundering achieve this crime as "legitimize the funds of illicit origin, to make them look legitimate image using several methods."

He bandaged in an interview with the newspaper "elimination", that "of these methods to carry out import fake and convertibility of the dollar abroad and the use of other people."

He added that "it is through open small accounts in their names and the distribution of these amounts on their accounts for the fragmentation of the amounts and make them look small and then assembled in another account the various transactions and conduct of which or transferred out of the country, without having to these conversions commercial purposes is illegal."According ligature that "the central bank sold dollars to achieve two purposes, the first exchange companies weekly share that these companies are selling to the purports to travel for treatment or tourism for less than the market price," adding that "some companies sell the dollar on the black market and provide copies of travel tickets and passports fakes. "

He added that "The second purpose is for the purpose of importing the private sector through currency auctions," noting that "the image most frequently for money laundering in Iraq, speaking through an auction sell the currency at the central bank and that the fact that the perpetrators of embezzlement and bribery crimes and charging commissions to deposit their money in accounts at private banks ".

He pointed out that "a deal gets with people representing the facades of them and recording General trade names companies and then applying to enter the auction sale of the dollar under the pretext of covering the import of the private sector's needs and transfer millions of dollars into the financial accounts abroad without the introduction of the goods against which will then be their dealings suspicious without commercial purposes or legal. "

He stated that "the mechanisms established by the Central Bank to sell the dollar through currency auctions are open merchant account at Ahli Bank in order to get what he needed from the central bank after submitting a request to buy the currency strengthened lists the purchase of goods and clearance from the tax and import license from the Iraqi opposition."

Ligature and explained that "the process of buying the dollar to be between the National Bank and the Central Bank in order to cover as requested by the customer." And the ligature that "the legal obligations imposed by the central bank to private banks under the law in accordance with the Know Your Customer principle, where is the responsibility of those banks to verify who deals with it and need to know whether the customer any merchant can take place such import process and has the money or is it front to cover the sources of funds owned by criminals. "

Ligature and he adds that "the facts indicate that the merchant provides documents and forged documents and lists and fake permits by private banks to buy the currency check request and converts it to the outside."

He continued that "the incident is exposed after the specified period of three months, a period that are imposed on the client after submitting permits stating that the goods have entered into Iraq, and there is the central bank approached the customs department and then be revealed fraud and conducting court investigations."

Ligature and return to the principle of know your customer, saying "the bank to verify the client's ability to repay his trust, and if he found the inability to inform the Central Bank during the 15-day discourse that there is a suspect." While denied "the registration of any case of this kind against any customer", he saw that "private banks have become an easy conduit for money laundering operations."

He added, "Under the facts before the central bank for as long as the full cast blame on private banks and this is not true; because the latter is not a government agency and that the sanctions Ttoulha administrative only."

He stressed that "oversight and audits buy the currency to be later and after the loss of funds withdrawn," calling that "the checks carried out by the exchange process."

He called ligature to "put in place mechanisms to check the validity of the bills and make sure the customer's account and the fact that the required amounts Is it to cover imports by the private sector or for other reasons."

He cited that the "crime borne by the merchant and all the people who contributed to feeding their account and the bank that its obligations has not been implemented as money laundering law."

According to the judge of money laundering, "the punishment of those responsible for causing the bank in this type of crime is a misdemeanor, a penalty merchant themselves, but they may reach their right to life imprisonment if it is proved that the amounts allocated to support terrorist operations."

It was to be "the central bank often imposes fines on banks that do not abide by the instructions of their clients auction sell the currency," noting that "the violator to pay the price difference between the value of the dollar in the markets and bought from the central bank."

And he finished by saying that "the court over the door to receive reports of these crimes, including the reporting of money laundering office, in addition to control of the Directorate of the banking and credit at the central bank through conducted by committees, audit and inspection, as the court receives Sometimes reports from informants ordinary" .

And completed by saying that the "court of inquiry has completed dozens of money laundering cases and referred the perpetrators of money laundering crimes to misdemeanors and criminal courts."

For his part, says the cover of integrity and money laundering Radi Fartusi judge in a statement to "eliminate", that "our courts to deal very seriously with this kind of issues and resolving many of them."

Fartusi and continued that "the delay in resolving the case of some who, for reasons not related to the elimination of including non-completion of the administrative investigation of the relevant authorities."

He criticized the "lack of identification concerned about the amounts purchased by private banks when conducting the administrative investigation, as well as the amount of damage achieved as a result of money laundering."

Fartusi also complained about lack of "Check those actors permits and invoices submitted by the banks and customers before their participation in the foreign currency auction."

One of the strange cases before the judiciary, Fartusi said that "a young man of only 25 years, which recharged his account of $ 10 million and although it works taxi driver after checking with him turned out to be the interface used by one of the parties for the purpose of laundering the funds and turn them out of Iraq."

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logo jumhuriyaAchieve: the central bank auction of civil and banks as a conduit for money laundering and the smuggling out of Iraq
Tue, 04 Oct 2016 21:17:52
 
 
 
 
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Judges specialize money laundering issues revealed that millions of dollars were smuggled out of the country by traders and bankers and fictitious companies and money transfer .

Iyad Muhsin ligature judge defines money laundering achieve this crime as "legitimize the funds of illicit origin, to make them look legitimate image using several methods ."

He bandaged in an interview with one of the media outlets, "that" of these methods to carry out import fake and convertibility of the dollar abroad and the use of other people . "

He added that "it is through open small accounts in their names and the distribution of these amounts on their accounts for the fragmentation of the amounts and make them look small and then assembled in another account the various transactions and conduct of which or transferred out of the country, without having to these conversions commercial purposes is illegal ."

According ligature that " the central bank sold dollars to achieve two purposes, the first exchange companies weekly share that these companies are selling to the purports to travel for treatment or tourism for less than the market price , " adding that "some companies sell the dollar on the black market and provide copies of travel tickets and passports fakes . "

He added that " The second purpose is for the purpose of importing the private sector through currency auctions , " noting that " the image most frequently for money laundering in Iraq , speaking through an auction sell the currency at the central bank and that the fact that the perpetrators of embezzlement and bribery crimes and charging commissions to deposit their money in accounts at private banks ".

He pointed out that " a deal gets with people representing the facades of them and recording General trade names companies and then applying to enter the auction sale of the dollar under the pretext of covering the import of the private sector 's needs and transfer millions of dollars into the financial accounts abroad without the introduction of the goods against which will then be their dealings suspicious without commercial purposes or legal . "

He stated that " the mechanisms established by the Central Bank to sell the dollar through currency auctions are open merchant account at Ahli Bank in order to get what he needed from the central bank after submitting a request to buy the currency strengthened lists the purchase of goods and clearance from the tax and import license from the Iraqi opposition ."

Ligature and explained that " the process of buying the dollar to be between the National Bank and the Central Bank in order to cover as requested by the customer ."

And that " the legal obligations imposed by the central bank to private banks under the law in accordance with the principle of [know your client] , where is the responsibility of those banks to verify who deals with it and need to know whether the customer any merchant can take place , such as the import process this and has the money or is it a front for cover sources funds owned by criminals . "

Ligature and he adds that " the facts indicate that the merchant provides documents and forged documents and lists and fake permits by private banks to buy the currency check request and converts it to the outside ."

He continued that " the incident is exposed after the specified period of three months , a period that are imposed on the client after submitting permits stating that the goods have entered into Iraq, and there is the central bank approached the customs department and then be revealed forgery and conducted the court investigation ."

Ligature and return to the principle of [know your client], saying , "the bank 's verification of the ability of the client to repay his trust, and if he found the inability to inform the Central Bank during the 15 - day discourse that there is a suspect." While denied " the registration ofany case of this kind against any customer", he saw that "private banks have become an easy conduit for money laundering operations ."

He added , "Under the facts before the central bank for as long as the full cast blame on private banks and this is not true; because the latter is not a government agency and that the sanctions Ttoulha administrative only ."

He stressed that "oversight and audits buy the currency to be later and after the loss of funds withdrawn , " calling that " the checks carried out by the exchange process ."

He called ligature to "put in place mechanisms to check the validity of the bills and make sure the customer 's account and the fact that the required amounts Is it to cover imports by the private sector or for other reasons ."

He cited that the "crime borne by the merchant and all the people who contributed to feeding their account and the bank that its obligations has not been implemented according to the law of money laundering ."

According to the judge of money laundering, " the punishment of those responsible for causing the bank in this type of crime is a misdemeanor , a penalty merchant themselves ,but they may reach their right to life imprisonment if it is proved that the amounts allocated to support terrorist operations ."

It was to be " the central bank often imposes fines on banks that do not abide by the instructions of their clients auction sell the currency , " noting that " the violator to pay the price difference between the value of the dollar in the markets and bought from the central bank ."

And he finished by saying that "the court over the door to receive reports of these crimes ,including the reporting of money laundering office, in addition to control of the Directorate of the banking and credit at the central bank through conducted by committees , audit and inspection, as the court receives Sometimes reports from informants ordinary " .

And completed by saying that the "court of inquiry has completed dozens of money laundering cases and referred the perpetrators of money laundering crimes to misdemeanors and criminal courts ."

For his part , says the cover of integrity and money laundering Radi Fartusi judge in a statement to "eliminate", that "our courts to deal very seriously with this kind of issues and resolving many of them ."

Fartusi and continued that " the delay in resolving the case of some who , for reasons not related to the elimination of including non - completion of the administrative investigation of the relevant authorities ."

He criticized the "lack of identification concerned about the amounts purchased by private banks when conducting the administrative investigation, as well as the amount of damage achieved as a result of money laundering ."

Fartusi also complained about lack of "Check those actors permits and invoices submitted by the banks and customers before their participation in the foreign currency auction ."

One of the strange cases before the judiciary, Fartusi said that " a young man of only 25 years , which recharged his account of $ 10 million and although it works taxi driver after checking with him turned out to be the interface used by one of the parties for the purpose of laundering the funds and turn them out of Iraq ."

 

 

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08-10-2016 07:00 PM
image.php?token=0d1096bffafb1636a4b86b52b0c2b3a5&size=
 


 

 

Judges specialize money laundering issues revealed that millions of dollars were smuggled out of the country by traders and bankers and fictitious companies and money transfer. 
And knows Iyad Muhsin ligature magistrate money laundering a crime as' legitimize the funds of illicit origin, to make them look legitimate by using the methods of image several '. 
ligature he said in an interview with' newspaper judiciary ', that' of these methods to carry out import fake and convertibility of the dollar abroad and the use of other people. " 
He added that 'it is through open small accounts in their names and the distribution of these amounts on their accounts in order to defragment the amounts and make them look small and then assembled in another account the various transactions and conduct of which or transferred out of the country, without having to these conversions commercial legitimate purposes '. 
According to ligature that' the central bank sold dollars to achieve two purposes, the first exchange companies weekly share that these companies are selling to the purports to travel for treatment or tourism for less than the market price ', adding that' some companies sell the dollar on the black market and provide copies of travel tickets and passports fakes'. 
he said ' The second purpose is for the purpose of importing the private sector through auction currency', noting that ' the most image again to launder the money in Iraq , speaking through an auction selling the currency at the central bank and that the fact that the perpetrators of embezzlement and bribery crimes and charging commissions to deposit their money in accounts at private banks. " 
He pointed out that' a deal get along with people representing the facades of them and record trading companies General names and then applying to enter the auction sale of the dollar under the pretext of covering the import of the private sector 's needs and transfer millions of dollars into the financial accounts abroad without the introduction of the goods against which will then be their dealings suspicious without commercial purposes or illegal. " 
he stated that ' the mechanisms established by the Central Bank to sell the dollar during the currency auction is open merchant account at Ahli Bank in order to get what he needed from the central bank after submitting a request to buy the currency strengthened lists the purchase of goods and clearance from the tax and import license from the Iraqi opposition. ' 
ligature and explained that' the process of buying the dollar to be between the National Bank and the World Bank Central to the purpose of covering as requested by the customer. ' 
and that' legal obligations imposed by the central bank to private banks under the law in accordance with the principle of[know your client] , where is the responsibility of those banks to verify who deals with it and need to know whether the customer any merchant can take place , such as the import process this has the money or is it front to cover the sources of funds owned by criminals. " 
he adds ligature that ' the facts indicate that the merchant provides documents and forged documents and lists and permits fake by private banks to check to buy the currency demand and turning it to the outside." 
he said that' the incident is exposed after the specified period of three months , a period that are imposed on the client after submitting permits stating that the goods have entered into Iraq, and there is the central bank approached the customs department and then be revealed forgery and conducted the court investigation. ' 
due ligature to the principle of [know your client], saying' the bank verification of the client 's ability to repay his trust, and if he found the inability to inform the Central Bank during the 15 day discourse that there is a suspect. ' While denied 'record any case of this kind against any customer', felt that the 'private banks have become an easy gateway for operations of money laundering.' 
Increased 'under the facts presented, the central bank has always cast full on private banks blame and this is not true; because the latter is not the point government and that sanctions Ttoulha administrative only. " 
He stressed that 'controls and audits to buy the currency to be later and after the loss of funds withdrawn', calling that 'checks carried out by the exchange process." 
He called ligature B'oda mechanisms to audit the invoices health and confirming customer 's account and the fact that the required amounts Is it to cover imports by the private sector or for other reasons. ' 
reported that' crime borne by the merchant and all the people who contributed to feeding their account and the bank that its obligations has not been implemented as money laundering law. " 
according to the judge of money laundering, the 'punishment of those responsible for causing the bank this type from the offenses are a misdemeanor , a penalty merchant themselves , but they may reach their right to life imprisonment if it is proved that the amounts allocated to support terrorist operations. " 
it was to be ' the central bank often imposes fines on banks that do not adhere to their customers with instructions auction currency', noting that 'violator to pay the price difference between the value of the dollar in the markets and bought from the central bank.' 
and he finished by saying that 'most of the court from the door to receive reports of these crimes , including the reporting of money laundering office, in addition to monitoring the banking and credit of the Central Bank Directorate through conducted by committees audit and inspection, as the court receives sometimes reports from informants ordinary. ' 
completed by saying that the ' court of inquiry of money laundering has completed dozens of cases and referred the perpetrators of money laundering crimes to misdemeanors and criminal courts. " 
for his part , says the judge misdemeanors integrity and money laundering Radi Fartusi told to 'eliminate', that 'our courts deal very seriously with this kind of issues and resolving many of them.' 
Fartusi He said 'delay the resolution of some of the lawsuit is for reasons not related to the elimination of including non -completion of the administrative investigation of the relevant authorities.' 
criticized ' is not selected stakeholders purchased for amounts by private banks when conducting the administrative investigation, as well as the amount of damage achieved as a result of money laundering.' 
also complained Fartusi not 'check those actors permits and invoices submitted by the banks and customers before their participation in the foreign currency auction. " 
One of the issues exotic before the judiciary, Fartusi said that ' a young man of only 25 years , which recharged his account of $ 10 million and although it works taxi driver after checking with him and show that interface you used one of those for the purpose of laundering the funds and turn them out of Iraq. "

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On 9/21/2016 at 10:16 PM, Freedomwish said:

HOLY COW!!:blink: THE ISX IS NOW FULLY PLANNING TO COME INTO PLAY??!!:blink: 

The dinar just HAS TO BE FULLY recognized and accepted into the global market by early 2017!!:praying:

What say you Master Yota? WHAT SAY YOUUU?! :blink:

 So the one thing I have not been able to understand is the Vietnamese stock exchange apparently up and running is it not, and their currency is pretty much in the same boat as the dinar, isn't it??? 

Edited by jcfrag
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20 hours ago, yota691 said:
08-10-2016 07:00 PM
image.php?token=0d1096bffafb1636a4b86b52b0c2b3a5&size=
 


 

 

Judges specialize money laundering issues revealed that millions of dollars were smuggled out of the country by traders and bankers and fictitious companies and money transfer. 
And knows Iyad Muhsin ligature magistrate money laundering a crime as' legitimize the funds of illicit origin, to make them look legitimate by using the methods of image several '. 
ligature he said in an interview with' newspaper judiciary ', that' of these methods to carry out import fake and convertibility of the dollar abroad and the use of other people. " 
He added that 'it is through open small accounts in their names and the distribution of these amounts on their accounts in order to defragment the amounts and make them look small and then assembled in another account the various transactions and conduct of which or transferred out of the country, without having to these conversions commercial legitimate purposes '. 
According to ligature that' the central bank sold dollars to achieve two purposes, the first exchange companies weekly share that these companies are selling to the purports to travel for treatment or tourism for less than the market price ', adding that' some companies sell the dollar on the black market and provide copies of travel tickets and passports fakes'. 
he said ' The second purpose is for the purpose of importing the private sector through auction currency', noting that ' the most image again to launder the money in Iraq , speaking through an auction selling the currency at the central bank and that the fact that the perpetrators of embezzlement and bribery crimes and charging commissions to deposit their money in accounts at private banks. " 
He pointed out that' a deal get along with people representing the facades of them and record trading companies General names and then applying to enter the auction sale of the dollar under the pretext of covering the import of the private sector 's needs and transfer millions of dollars into the financial accounts abroad without the introduction of the goods against which will then be their dealings suspicious without commercial purposes or illegal. " 
he stated that ' the mechanisms established by the Central Bank to sell the dollar during the currency auction is open merchant account at Ahli Bank in order to get what he needed from the central bank after submitting a request to buy the currency strengthened lists the purchase of goods and clearance from the tax and import license from the Iraqi opposition. ' 
ligature and explained that' the process of buying the dollar to be between the National Bank and the World Bank Central to the purpose of covering as requested by the customer. ' 
and that' legal obligations imposed by the central bank to private banks under the law in accordance with the principle of[know your client] , where is the responsibility of those banks to verify who deals with it and need to know whether the customer any merchant can take place , such as the import process this has the money or is it front to cover the sources of funds owned by criminals. " 
he adds ligature that ' the facts indicate that the merchant provides documents and forged documents and lists and permits fake by private banks to check to buy the currency demand and turning it to the outside." 
he said that' the incident is exposed after the specified period of three months , a period that are imposed on the client after submitting permits stating that the goods have entered into Iraq, and there is the central bank approached the customs department and then be revealed forgery and conducted the court investigation. ' 
due ligature to the principle of [know your client], saying' the bank verification of the client 's ability to repay his trust, and if he found the inability to inform the Central Bank during the 15 day discourse that there is a suspect. ' While denied 'record any case of this kind against any customer', felt that the 'private banks have become an easy gateway for operations of money laundering.' 
Increased 'under the facts presented, the central bank has always cast full on private banks blame and this is not true; because the latter is not the point government and that sanctions Ttoulha administrative only. " 
He stressed that 'controls and audits to buy the currency to be later and after the loss of funds withdrawn', calling that 'checks carried out by the exchange process." 
He called ligature B'oda mechanisms to audit the invoices health and confirming customer 's account and the fact that the required amounts Is it to cover imports by the private sector or for other reasons. ' 
reported that' crime borne by the merchant and all the people who contributed to feeding their account and the bank that its obligations has not been implemented as money laundering law. " 
according to the judge of money laundering, the 'punishment of those responsible for causing the bank this type from the offenses are a misdemeanor , a penalty merchant themselves , but they may reach their right to life imprisonment if it is proved that the amounts allocated to support terrorist operations. " 
it was to be ' the central bank often imposes fines on banks that do not adhere to their customers with instructions auction currency', noting that 'violator to pay the price difference between the value of the dollar in the markets and bought from the central bank.' 
and he finished by saying that 'most of the court from the door to receive reports of these crimes , including the reporting of money laundering office, in addition to monitoring the banking and credit of the Central Bank Directorate through conducted by committees audit and inspection, as the court receives sometimes reports from informants ordinary. ' 
completed by saying that the ' court of inquiry of money laundering has completed dozens of cases and referred the perpetrators of money laundering crimes to misdemeanors and criminal courts. " 
for his part , says the judge misdemeanors integrity and money laundering Radi Fartusi told to 'eliminate', that 'our courts deal very seriously with this kind of issues and resolving many of them.' 
Fartusi He said 'delay the resolution of some of the lawsuit is for reasons not related to the elimination of including non -completion of the administrative investigation of the relevant authorities.' 
criticized ' is not selected stakeholders purchased for amounts by private banks when conducting the administrative investigation, as well as the amount of damage achieved as a result of money laundering.' 
also complained Fartusi not 'check those actors permits and invoices submitted by the banks and customers before their participation in the foreign currency auction. " 
One of the issues exotic before the judiciary, Fartusi said that ' a young man of only 25 years , which recharged his account of $ 10 million and although it works taxi driver after checking with him and show that interface you used one of those for the purpose of laundering the funds and turn them out of Iraq. "

I got a fix for money laundering in Iraq!  Treated as treason and put anyone to death who dares to cross that line...   Problem fixed!!!👍😎

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19 minutes ago, jcfrag said:

 So the one thing I have not been able to understand is the Vietnamese stock exchange apparently up and running is it not, and their currency is pretty much in the same boat as the dinar, isn't it??? 

Wait, Vietnam's Stock Exchange is up and running?  I didn't know that and I would figure it is in the same boat as the dinar....:confused2:

Who else can please shed some light here? :confused:

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8 minutes ago, Freedomwish said:

Wait, Vietnam's Stock Exchange is up and running?  I didn't know that and I would figure it is in the same boat as the dinar....:confused2:

Who else can please shed some light here? :confused:

Im assuming it is up and running...

http://www.bloomberg.com/news/articles/2016-08-12/vinamilk-pushes-vietnamese-stocks-toward-best-week-in-13-months

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