CBI News 07/01/2018

[yota691]

The initiative of the Central Bank for the care and rehabilitation of graduates (first session)

 

  

 July 01, 2018

 

Sponsored by the born of the Governor of the Central Bank of Iraq was launched at the Center for Banking Studies and within the central bank to take care of the graduates initiative and rehabilitation course for the rehabilitation of the first graduates in the field of banking business for a period of 1 - 2018/ 7 / 19

[yota691]

The Association of Iraqi Private Banks organizes a course for the management of banking branches

 

Banks Economy News _ Baghdad The Association of Iraqi Private Banks, in cooperation with the Joint Efforts Group for Development and Consultations, organized a training course entitled "Management of Banking Branches", with the participation of 40 trainees from government and private banks and the Central Bank. The director of administration and training in the Association of Iraqi Private Banks, Ahmed Hashemi, in an interview with "Economy News", "The course of management of banking branches aims to know the basics of work in banking operations and types and scenarios and concepts of theoretical and practical applied in private banking departments, Necessary and necessary to be available in the branch manager, banking, behavioral, administrative and organizational aspects and building the capacity to deal with the public to make the banking business successful. Hashemi added that "the training course lasts for five days from 5/7/2018, at the headquarters of the Association of Iraqi private banks, with the participation of 40 trainees from the managers of branches of government and private banks and the Central Bank." He pointed out that "the training courses held at the headquarters of the Association aims to revitalize the Iraqi banking sector through the use of the best technology used in the world." Views 116   Date Added 01/07/2018

[yota691]

Withdrawal of the license of the company Horizons Samarra to mediate the sale and purchase of foreign currencies

 

  

 July 01, 2018

 

To / Ministry of Commerce / Corporate Registration Department (M / Withdrawal )

 

[yota691]

Central Bank withdraws a brokerage company to sell and buy currencies for violating the instructions

 

Sunday 1 July

 

 

 

 

 

 

Alsumaria News / Baghdad   The Central Bank of Iraq announced on Saturday the withdrawal of the license of a brokerage company to sell and buy foreign currencies for violating the instructions.   The bank said in a statement received by Alsumaria News that "in view of the violation of the company Horizons Samarra to mediate the sale and purchase of foreign currencies to the provisions of the instructions to regulate the work of brokerage companies and abuse of leave decided to withdraw the company's founding license and the confiscation of the deposits deposited with the bank, amounting to 50 million dinars."     The bank called on the Ministry of Commerce to cancel the certificate of establishment granted to it in addition to removing the name of the company from its records and to provide the Central Bank with the letter of liquidation certified.   The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.

[yota691]

Iraq officially exits from list of countries subject to monitoring and follow-up by FATF

 

  

 July 01, 2018

The FATF officially announced Iraq's exit from the follow-up area, as the CBI and AML / CFT have made significant progress in improving and addressing deficiencies and meeting all its obligations towards FATF recommendations and addressing the requirements of the Anti-Money Laundering Strategy And the financing of terrorism prepared by the Central Bank of Iraq as well as the legislation of the Anti-Money Laundering Law No. 39 of 2015 and the issuance of instructions and controls and the establishment of the Council against Money Laundering and Financing of Terrorism as well as the Committee for the freezing of funds of terrorists,Monitoring and follow-up by FATF .

 

[yota691]

Officially .. Iraq is out of the list of countries under the monitoring and follow-up by the International Financial Action Task Force

Release date: 2018/7/1 14:56 • 0 times read

 

[Butifldrm]

2018/07/01 15:03

Number of readings 3

Section: Iraq

 

Central: Iraq officially withdraws from the list of countries subject to monitoring and follow-up

 

 

BAGHDAD / Al-Masala: The Central Bank of Iraq, announced on Sunday, July 1, 2018, the exit of Iraq officially from the list of countries under the monitoring and follow-up by the International Financial Action Task Force.

The central bank said in a statement to the "obsolete", "The International Financial Task Force FATF officially announced the exit of Iraq from the list of follow-up."

The statement added that this was due to the achievements of the Central Bank of Iraq and the Office of AML / CFT to improve and remedy deficiencies and to meet all its obligations towards the recommendations of the FATF and to address the requirements of the strategy of combating the money laundering and terrorist financing prepared by the Central Bank of Iraq The enactment of the Anti-Money Laundering Law No. 39 of 2015, the issuance of instructions and regulations, the establishment of the Anti-Money Laundering and Financing of Terrorism Council and the Committee for the Freeze of Terrorist Funds. "

"Iraq is no longer subject to monitoring and follow-up by the FATF," the bank statement concluded.

The obelisk

http://almasalah.com/ar/news/142337/المركزي-العراق-يخرج-رسميا-من-قائمة-الدول-الخاضعة-للرصد-والمتابعة

[yota691]

Iraq is officially excluded from the list of States subject to monitoring and follow-up

 

Banks Economy News _ Baghdad: The Central Bank of Iraq (FATF) announced on Sunday that the FATF has officially released it from the follow-up area, as the Bank and AML / CFT have made significant progress in improving and addressing deficiencies and meeting all its obligations.  In a statement received by Al-Iktissad News, the bank said, "FATF has officially removed it from the follow-up area, because the Bank and AML / CFT have made significant progress in improving and addressing shortcomings and meeting all its commitments to the FATF recommendations. Requirements of the AML / CFT strategy prepared by the Central Bank. " He added that "the bank has legislated the Anti-Money Laundering Law No. 39 of 2015 and issued instructions and controls and the establishment of the Anti-Money Laundering and Financing of Terrorism Council as well as the Committee on the freezing of terrorist funds." The statement pointed out that "Iraq is no longer subject to monitoring and follow-up by the FATF."  Views 313   Date Added 07/01/2018

[DropItLikeItsHot]

Lota good stuff you just posted!

 

Thanks Yota

[yota691]

Who we are

The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions.  The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.  The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.

The FATF has developed a series of Recommendations that are recognised as the international standard for combating of money laundering and the financing of terrorism and proliferation of weapons of mass destruction.  They form the basis for a co-ordinated response to these threats to the integrity of the financial system and help ensure a level playing field.  First issued in 1990, the FATF Recommendations were revised in 1996, 2001, 2003 and most recently in 2012 to ensure that they remain up to date and relevant, and they are intended to be of universal application.

The FATF monitors the progress of its members in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally.  In collaboration with other international stakeholders, the FATF works to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse.

The FATF's decision making body, the FATF Plenary, meets three times per year.  

FATF Plenary in session 

[yota691]

What do we do

The Financial Action Task Force (FATF) was established in July 1989 by a Group of Seven (G-7) Summit in Paris, initially to examine and develop measures to combat money laundering.  Click here to see the Economic Declaration from that G-7 Summit.

In October 2001, the FATF expanded its mandate to incorporate efforts to combat terrorist financing, in addition to money laundering.

Since its inception, the FATF has operated under a fixed life-span, requiring a specific decision by its Ministers to continue.  The current mandate of the FATF (2012-2020) was adopted at a Ministerial meeting in April 2012. 

The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. Starting with its own members, the FATF monitors countries' progress in implementing the FATF Recommendations; reviews money laundering and terrorist financing techniques and counter-measures; and, promotes the adoption and implementation of the FATF Recommendations globally.

[yota691]

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.

[ChuckFinley]

18 minutes ago, Butifldrm said:

2018/07/01 15:03

Number of readings 3

Section: Iraq

 

Central: Iraq officially withdraws from the list of countries subject to monitoring and follow-up

 

 

BAGHDAD / Al-Masala: The Central Bank of Iraq, announced on Sunday, July 1, 2018, the exit of Iraq officially from the list of countries under the monitoring and follow-up by the International Financial Action Task Force.

The central bank said in a statement to the "obsolete", "The International Financial Task Force FATF officially announced the exit of Iraq from the list of follow-up."

The statement added that this was due to the achievements of the Central Bank of Iraq and the Office of AML / CFT to improve and remedy deficiencies and to meet all its obligations towards the recommendations of the FATF and to address the requirements of the strategy of combating the money laundering and terrorist financing prepared by the Central Bank of Iraq The enactment of the Anti-Money Laundering Law No. 39 of 2015, the issuance of instructions and regulations, the establishment of the Anti-Money Laundering and Financing of Terrorism Council and the Committee for the Freeze of Terrorist Funds. "

"Iraq is no longer subject to monitoring and follow-up by the FATF," the bank statement concluded.

The obelisk

http://almasalah.com/ar/news/142337/المركزي-العراق-يخرج-رسميا-من-قائمة-الدول-الخاضعة-للرصد-والمتابعة

Thanks Butifldrm !!

 

Love seeing all this positive news coming out of Iraq.  

[yota691]

Gold Bullion prices for Tuesday, 2018/7/3

  

 July 01, 2018

 

 

[yota691]

 

Iraq officially exits the FATF International Financial Control List

 

15:00

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BAGHDAD / Tomorrow 's Press: 

announced the International Financial Action Task Force "FATF", on Sunday, "officially" out of Iraq from the follow - up area thanks to the achievements of the Iraqi Central Bank and the Office of the fight against money laundering and the financing of terrorism "significant progress".

The Central Bank of Iraq said in a press statement that "the International Financial Action Task Force officially announced the exit of Iraq from the follow-up area, because of the achievement of the Central Bank of Iraq and the Office of AML / CFT of significant progress in improving and addressing shortcomings." 

He added that "Iraq has fulfilled all its obligations towards the recommendations of the group and address the requirements of the strategy of combating money laundering and financing of terrorism prepared by the Central Bank of Iraq." 

"In addition to the enactment of the Anti-Money Laundering Law No. 39 of 2015, the issuance of instructions and regulations and the establishment of the Anti-Money Laundering and Terrorism Financing Council, as well as the Committee for the freezing of terrorist funds." 

"Thus, Iraq is no longer subject to monitoring and follow-up by FATF," the bank said.

[yota691]

 

Iraq is officially excluded from the list of States subject to monitoring and financial follow-up

 

 Twilight News    
 43 minutes ago

The Central Bank announced the exit of Iraq from the follow-up to the International Financial Working Group FATF. 
The FATF is an intergovernmental body charged with studying techniques and trends in money laundering and terrorist financing, and developing and developing anti-money laundering and terrorist financing policies locally and internationally. 
The FATF is following the progress made by Member States in implementing the necessary measures and is working very closely with eight regional organizations such as the FATF, the Group is studying the methods of money-laundering and the financing of terrorism and measures to combat these phenomena and encourages the adoption and implementation of appropriate measures at the global level, With other relevant international bodies in the field of combating money-laundering and the financing of terrorism.
"The decision was made by the AML / CFT Office to make significant progress in improving and addressing deficiencies and to meet all its obligations to FATF recommendations and to address the requirements of its AML / CFT strategy," the statement said. 
He added that the decision also came to enact the Anti-Money Laundering Law No. 39 of 2015, issue instructions and controls and establish the Anti-Money Laundering and Terrorism Financing Council as well as the Committee for the freezing of terrorist funds.

Keywords: 

[yota691]

Exit Iraq from the list of countries under the monitoring and follow-up to international financial work

 

Sunday 1 July

 

Alsumaria News / Baghdad announced that the Central Bank of Iraq , Sunday, exit Iraq officially from the list subject to the process of monitoring and follow - up by the International Financial Action Group states.  The Central Bank said in a statement received by Alsumaria News a copy of it, "The International Financial Task Force FATF officially announced the exit of Iraq from the follow-up area." The statement added that this was due to the achievements of the Central Bank of Iraq and the Office of AML / CFT to improve and remedy the shortcomings and to meet all its obligations towards the recommendations of the FATF and to address the requirements of the strategy of combating the money laundering and terrorist financing prepared by the Central Bank of Iraq The enactment of the Anti-Money Laundering Law No. 39 of 2015, the issuance of instructions and regulations, the establishment of the Anti-Money Laundering and Financing of Terrorism Council and the Committee for the Freeze of Terrorist Funds. "     "Iraq is no longer subject to monitoring and follow-up by the FATF," the bank statement concluded.

[navira]

Wow... finally, CBI announced the exit...now let's watch the rate go up

[navira]

CBI announced the exit officially on Sunday...the media is asked to be quite til Abadi meets the traders...MoF currency site is down...oh man

[Texstorm]

Good Morning Yota and DV ! I don't know .....maybe just another brick in the wall ! Going International is definitely a first step towards our financial freedom 💲

[Pitcher]

[Officiallytook]

How are considered international with this "dummy" rate ?

[Sage449]

At some point they have to implement the training. Thanks master Y

 

[Butifldrm]

Central Bank withdraws a brokerage company to sell and buy currencies for violating the instructions

2 views

01/07/2018

Baghdad 
 

announced The Central Bank of Iraq on the withdrawal of a license company to mediate the sale and purchase of foreign currency for violating instructions.

The bank said in a statement received a "trend" copy of it "given the breach of the company horizons Samarra to broker the sale and purchase of foreign currency to the provisions of the instructions to regulate the work of companies mediating and abuse of leave decided to withdraw the company's founding license and the confiscation of the deposits deposited with the bank, amounting to 50 million dinars "

The bank called for "The Ministry of Commerce cancel the certificate of establishment granted to it by the addition to write off the name of the company from its records and provide the Central Bank with the letter of liquidation certified "

The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.

zm 

http://aletejahtv.com/archives/237677

[skeetdog]

Thanks Yota/Butifldrm...This is a huge accomplishment...imho...Just before the up coming UNSC's decision to lift the international sanctions of Chapter Vll from Iraq...allowing Iraq the reemergence back into the international theater by accepting Chapter 8 conditions.....