CBI News 02/06/2019

[yota691]

Create sections

 

  

 February 06, 2019

 

 

To all electronic payment companies ( sections ). Click here

[yota691]

The Central Bank calls on electronic payment companies to set up money laundering offices and risk management

 

Wednesday, February 6th

 

 

Alsumaria News / Baghdad demanded the Central Bank of Iraq , Wednesday, electronic payment companies to establish money laundering and terrorism management offices.  The bank said in a statement received by Alsumaria News that "as part of its supportive role of electronic payment companies and in order not to be exposed to potential risks, it is decided to establish two units (AML / CFT and risk management) within a period not exceeding five months."     The bank added that "companies should provide us with their candidates for the departments mentioned provided that the candidates of the sections of Iraqi nationality exclusively."  The Central Bank occasionally warns and cancels licenses of some banks and financial transfer companies that find fraud or deal with suspicious entities.

[DWS112]

Governor of the Central Bank visits the branch of Erbil

February 06, 2019

 

HE Mr. Ali Mohsen Ismail, Governor of the Central Bank of Iraq, visited the Erbil Branch in the Kurdistan Region, accompanied by a delegation of the advanced cadres in this bank, and after an inspection tour of the sections of the branch, the Governor praised the efforts of the associates and the employees in the performance of their duties. The possibility of developing work to serve banking and banking and financial institutions in Iraq in general and in the Kurdistan region in particular, stressing the importance of strengthening and strengthening the relationship between the public and the Central Bank of Iraq to ensure confidence and transparency and high accuracy in dealing.

 

 

 

[NEPatriotsFan1]

Are those Delarue machines there in the bottom pic!? Time for sorting, scanning and converting to lower denoms maybe?

[gregp]

16 minutes ago, NEPatriotsFan1 said:

Are those Delarue machines there in the bottom pic!? Time for sorting, scanning and converting to lower denoms maybe?

 

Litter box. 

[yusofsabri]

1 hour ago, DWS112 said:

Governor of the Central Bank visits the branch of Erbil

February 06, 2019

 

 

HE Mr. Ali Mohsen Ismail, Governor of the Central Bank of Iraq, visited the Erbil Branch in the Kurdistan Region, accompanied by a delegation of the advanced cadres in this bank, and after an inspection tour of the sections of the branch, the Governor praised the efforts of the associates and the employees in the performance of their duties. The possibility of developing work to serve banking and banking and financial institutions in Iraq in general and in the Kurdistan region in particular, stressing the importance of strengthening and strengthening the relationship between the public and the Central Bank of Iraq to ensure confidence and transparency and high accuracy in dealing.

 

 

Final inspection prior to RV announcement.

[Engine1]

26 minutes ago, gregp said:

 

Litter box. 

The whole country is a litter box. 

[dinareffic]

The Central Bank calls on electronic payment companies to set up money laundering offices and risk management

 

Wednesday, February 6th

 

demanded the Central Bank of Iraq , Wednesday, electronic payment companies to establish money laundering and terrorism management offices. 

The bank said in a statement received by Alsumaria News that "as part of its supportive role of electronic payment companies and in order not to be exposed to potential risks, it is decided to establish two units (AML / CFT and risk management) within a period not exceeding five months."

The bank added that "companies should provide us with their candidates for the departments mentioned provided that the candidates of the sections of Iraqi nationality exclusively." 

The Central Bank occasionally warns and cancels licenses of some banks and financial transfer companies that find fraud or deal with suspicious entities.

https://www.alsumaria.tv/news/260116/المركزي-يطالب-شركات-الدفع-الالكتروني-بانشاء-مكاتب/ar


 

[Laid Back]

This is all related to AML/CFT CBI Policies.!

[Artitech]

45 minutes ago, Laid Back said:

This is all related to AML/CFT CBI Policies.!

What does this mean? Please 

[6ly410]

2 hours ago, yusofsabri said:

Final inspection prior to RV announcement.

agreed

[wildeman]

About the AML/CFT Act. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) places obligations on New Zealand's financial institutions and casinos to detect and deter money laundering and terrorism financing.

 

Namaste Laid back, thank you. Did I get this correct? 

Artitech, hope this helps, I'm not that knowledgeable and had to google it myself. Think it applies to Iraq also.

[justchecking123]

Good news!

 

 

[3n1]

3 hours ago, dinareffic said:

The Central Bank calls on electronic payment companies to set up money laundering offices and risk management

 

unbelievable the amount of work planning and preparation they have and will have to do when iraq or any nation to join the world system in reality we probably only get a small snapshot of what it has taken , when dictators rule they make the laws or lack of them that the society must live under  ... thanks for the article , we wait 

[Laid Back]

8 hours ago, Artitech said:

What does this mean? Please 

Artitech, wildeman is correct.

8 hours ago, wildeman said:

About the AML/CFT Act. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) places obligations on New Zealand's financial institutions and casinos to detect and deter money laundering and terrorism financing.

 

Namaste Laid back, thank you. Did I get this correct? 

Artitech, hope this helps, I'm not that knowledgeable and had to google it myself. Think it applies to Iraq also.

AML/CFT controls, when effectively implemented, mitigate the adverse effects of criminal economic activity and promote integrity and stability in financial markets.

CBI getting the banking system ready to go international.

 

[wildeman]

right on laidback,  here's hoping. thanks 

[TMills6864]

15 hours ago, yota691 said:

The Central Bank calls on electronic payment companies to set up money laundering offices and risk management

 

Wednesday, February 6th

 

 

Alsumaria News / Baghdad demanded the Central Bank of Iraq , Wednesday, electronic payment companies to establish money laundering and terrorism management offices.  The bank said in a statement received by Alsumaria News that "as part of its supportive role of electronic payment companies and in order not to be exposed to potential risks, it is decided to establish two units (AML / CFT and risk management) within a period not exceeding five months."     The bank added that "companies should provide us with their candidates for the departments mentioned provided that the candidates of the sections of Iraqi nationality exclusively."  The Central Bank occasionally warns and cancels licenses of some banks and financial transfer companies that find fraud or deal with suspicious entities.

Someone please help me to understand.  I read above that the CBI is giving E.P. companies  "... five months" to open "terrorism management offices" -- is it possible that we won't see an RV until after these five months? (Yes, I know, anything is possible, but is it probable?)

[Artitech]

24 minutes ago, TMills6864 said:

Someone please help me to understand.  I read above that the CBI is giving E.P. companies  "... five months" to open "terrorism management offices" -- is it possible that we won't see an RV until after these five months? (Yes, I know, anything is possible, but is it probable?)

I think this has been going on since last summer, I could be wrong as I’m going off my memory! JMHO!

[TMills6864]

10 hours ago, Artitech said:

I think this has been going on since last summer, I could be wrong as I’m going off my memory! JMHO!

Oh HOW I hope your right!  "Thank you"

 

[Texstorm]

When you wait for something so long that it really doesn't matter anymore.                          " SUDDENLY " !                                                Thanks LGD !                                " This is what I'm talking about ! "

[TMills6864]

Hey "Texstorm": I'm just South of you, we need to get together, I could sure use some guidance on all this ...

[Gypsygirl11]

10 hours ago, Texstorm said:

When you wait for something so long that it really doesn't matter anymore.                          " SUDDENLY " !                                                Thanks LGD !                                " This is what I'm talking about ! "

Well if you are happy then .... I'm encouraged. I know we are all ready to start a new life. (While we still can!) 

[yota691]

Central examines the constraints facing private banks

Friday February 08, 29

 

Baghdad / Al-Sabah

The Governor of the Central Bank of Iraq, Dr. Ali Mohsen Ismail Alalak with the General Administration of the Cihan Bank for Investment and Islamic Finance in Erbil, the obstacles facing the work of private banks and ways to address them and promote the reality of these banks to reach the banks 

Global. 

This came during a visit to the bank to see the banking services provided by the bank to customers.

During the visit, a meeting was held with the Chairman of the Board of Directors, the Executive Management of the Bank and the Department Directors. During the meeting, the delegation of the Central Bank, which was composed of the Governor as Chairman of the delegation, as well as the Director General of the Department of Control and Banking and the Director of Public Relations in the Bank.

For his part, the Chairman of the Board of Directors of the Bank expressed his thanks and appreciation to visit the Governor of the Central Bank to the bank, describing it as a very important task comes to see the work of the departments of working banks, and this visit to the delegation within a visit to private banks in the Kurdistan region of Iraq.

The banking system in Iraq consists of three types of banks, in addition to the Central Bank of the public sector, private sector and foreign banks. The public banking sector consists of seven banks: Rafidain, Rashid and the Iraqi Bank for Trade, Industrial, Commercial, Real Estate and Islamic Rivers. 30 banks and 13 foreign banks in addition to 8 Islamic banks belonging to the private sector and all are licensed to work by the Central Bank of Iraq.

The economic researcher called for developing the work of the private banking sector in Iraq because it is the most active and most traded sector in the Iraqi market for securities, especially that there are a number of foreign banks operating in the country and able to compete with our local banks.

The economic researcher Lubna al-Shammari said in an interview for "morning" that foreign banks are operating according to the regulations and regulations of the Central Bank, but the cases of excellence here will appear through the type and quality of banking service.

Al-Shammari said that "after reviewing the results of the Iraqi banking sector, according to the data of the Iraqi market for securities emerged one of the banks on the performance of a group of banks operating in Iraq, both foreign and local, the Ceyhan Bank."

 "Its management by distinguished businessmen with banking expertise has put the bank in an advanced position that is difficult for any other bank to compete with, recognizing a dividend distribution of 11.764 percent to the shareholders of the bank."

 She pointed out that "this ratio is distinctive to be the highest among all Iraqi banks," explaining that "this high performance reflected on the share price of Ceyhan in trading transactions in the Iraqi market for securities, where the share price was 2.65 dinars; and to reflect this price on the market value of the bank To reach the size of 675.750.000.000 dinars to be the bank is the highest in terms of market value among all Iraqi banks, according to reports of the Iraqi Stock Exchange for the year 2018; as well as diversified services and developed and spread banking calculated and accurately measured in most of the provinces of Iraq branches of 13 branches " .