yota691 Posted January 13, 2020 Report Share Posted January 13, 2020 Amending the instructions for selling foreign currency for the year 2017 January 13, 2020 To / licensed banks and all approved financial transfer companies ( amending the instructions for selling foreign currency for the year 2017 ) ... To download click here 4 3 2 Quote Link to comment Share on other sites More sharing options...
yusofsabri Posted January 13, 2020 Report Share Posted January 13, 2020 Thanks Master Yota. But anyway, what does it means? 2 Quote Link to comment Share on other sites More sharing options...
6ly410 Posted January 13, 2020 Report Share Posted January 13, 2020 (edited) Jan 12, 2020 What is bank savings? The Central Bank of Iraq presents to our dear children a cartoony film on banking input for the purpose of increasing the culture and awareness of children in this field enjoy watching information Office The Central Bank of Iraq Edited January 13, 2020 by 6ly410 4 1 1 1 Quote Link to comment Share on other sites More sharing options...
DinarThug Posted January 13, 2020 Report Share Posted January 13, 2020 https://cbi.iq/news/view/1382 Oversight manual / requirements mentioned in bank instructions / compliance activities 13th January, 2020 To / All Approved Banks ( Supervisory Work Manual / Requirements mentioned in the CBI instructions / Compliance activities ) Issue: 6/2/9 Date: 1/7/2020 Subsequent to our uncles numbered 9/2/265 dated 27/6/2019 and according to the provisions of the Banking Law No. (94) for the year 2004 and the following instructions No. (4) for the year 2010 issued in the Iraqi Al-Waqa'iq newspaper numbered No. 4172 dated 3/1/2011 We attach a link to the above guide for your approval. To view the guide to supervisory work / requirements mentioned in the instructions of the Central Bank of Iraq / compliance activities ... click here Translation..... Supervisory Action Manual The requirements mentioned in (Instructions) of the Central Bank of Iraq.. Based on the period and from Article 18 of the Banking Law, No. 94 of 2004, and Article 71 of the Instructions to Facilitate the Implementation of the Banking Law No. (4) for the year 2010 and as part of the Central Bank of Iraq’s ongoing efforts to develop oversight of Iraqi banks, and to promote good practices at Those banks, the Central Bank of Iraq decided to be guided by the international banking practices that were adopted in light of the economic crisis that occurred in 2014 These instructions were issued instructions on compliance risks and compliance activity with them. And that the inspectors of the Central Bank of Iraq be convinced when informing them of the documents submitted by banks that they follow effective policies and procedures, and that their departments take appropriate corrective measures when those monitors diagnose their failures to comply. Compliance begins from the top of the bank’s pyramid represented by its board of directors, and this compliance is most effective in the culture of the institution (the bank), which stresses the standards of honesty and integrity, in which the board of directors and the executive management lead by example in exercising their leadership roles. All employees of the bank are obligated to comply, and it must be seen as an integral part of its business, and banks must adhere to high standards when they continue to carry out their business, and strive at all times to implement the applicable laws regulating their work. Failure to take these sources into account will affect the effect of their actions on their shareholders, customers, employees and the banking market, which may result in the spread of negative publicity from banks. And causing damage to its reputation, to a great degree, even if the banks had not broken any law due to their practices, which leads to instability of the financial system and its contradiction with the goal that the Iraqi Central Bank seeks truth based on the law. Terminology Definitions Auto Compliance risk Compliance function OFF are legal or regulatory penalties, tangible (material) financial loss, or loss of reputation that a bank may suffer as a result of its failure to comply with the laws, regulations and instructions governing banking, issued by regulatory and supervisory authorities, | The relevant regulatory standards that the bank sets for itself is an independent function that evaluates the bank’s commitment to its operations | Daily banking for the requirements of relevant laws and instructions, ensuring the correctness of policies and procedures, and avoiding errors and violations that would expose the bank to various risks and in cooperation with other executive departments in the bank. Is the set of practical procedures that the compliance department of the bank performs. It is the department responsible for carrying out the compliance responsibilities of the bank. Compliance activity The Compliance Department Holding company is a joint stock or limited company that controls a company or joint stock or limited companies called (subsidiaries) as stated in Resolution No. (17) for the year 2019 amending the Companies Law No. (21) for the year 1997. First: Establishing the Compliance Department and its duties (on all government, private and banking groups) Establishing a Compliance Department to carry out compliance activity and include it in the organizational structure, and that that department sets an annual policy and procedures that are presented to the bank’s board of directors to vote on it and present it to The competent department in the Central Bank of Iraq is its reference and approval, and that the number of employees working in this section, and the size of the resources allocated to it, is appropriate to the size and diversity of the activities of banks and their branches. The Compliance Department makes an assessment of the extent of the bank’s compliance in its performance of its operations according to the following requirements Legal related: This section also confirms the validity of the political and procedures, and seeks to avoid making mistakes and violations of laws, regulations, and codes of professional conduct, applicable, and that will be exposed banking to various risks, in collaboration with all departments and units of other bank and Gifts that limit death to death (applicable to activities) Laws, rules and standards cover, in general, a fighter such as observing appropriate standards for the behavior of the banking market, avoiding conflicts of interest and managing them if they occur, practicing justice in dealing with customers, and ensuring the integrity of advice Provided for them, and includes specific areas, including when preventing money laundering and terrorist financing crimes, tax laws related to the structure of pure and applicable products. The bank that intentionally engages in financial or commercial transactions to use it less than customers to avoid regulatory requirements or financial reporting, evading tax obligations, or to engage in unlawful behavior that exposes the bank and the customer to significant consecutive risks - Various, including the main legislation, rules and standards issued by legislators, controls and instructions issued by the Iraqi Central Girls, the norms of longing for victory and internal components of behavior applicable to professional employees and for the reasons that were denied above, and from pain Tire that all these infringe what is Vlzim Qanonia and develop standards of integrity and ethical conduct broader range The Central Bank of Iraq is sweet to monitor the money "3) Compliance must be part of the bank’s culture, as this culture is not only the responsibility of the competent compliance staff. Banks should be able to manage all the risks to the bank, in a more effective way, if they put The subject of implementation is a representative activity that complies with the requirements of the incoming compliance, as indicated in Article III of these controls 4). It requires taking into account the volume of the bank’s business with the organizational structure of the compliance department. Pain Wharf active at the international level, compliance with local or international officials in the small section of fine bank compliance officers in one of the independent units in most areas of data banks Protection Section of the Department of Information Technology and Anti-Money Laundering and the Financing of Terrorism 9) Regardless of how the Compliance Department is organized within the knowledge, it must be independent, provide adequate resources, and clearly define its responsibilities, and that its activities are subject to periodic and mobile review by the bank's internal audit mentioned in paragraphs from ( 2-5) of Article (4) The requirements apply to all banks, including state-owned government banks, private banks, banking groups, and branches of foreign banks, and these requirements are taken into account when applying those requirements that depend on factors including the size of the bank and the extent of its business activities, and the degree Their complexity, geography extent Those works have reached, including the legal and regulatory framework through which it operates inside Iraq, and in other countries where the bank’s branches are located Article III - The requirements of the Central Bank of Iraq for compliance activities with banks include a minimum of the following 1 - Responsibilities of the Board of Directors for compliance. The board of directors of the bank shall be responsible for overseeing the management of compliance risks to which the bank is exposed. He must agree to the compliance policy of the requester and this includes preparing an official document to establish Compliance number) is permanent and effective in the bank, and the auto-compliance monitor is determined and its fees are determined. The investigation board issued by the Board of Directors must conduct an evaluation in an effective manner and present it to the Board of Directors at least once annually. Responsibilities of the bank’s executive management of compliance: Submitting reports to the Board of Inquiry's investigation committee regarding assessment and management of compliance risks with the Central Bank of Iraq, at least once quarterly, and exceptional in the event of urgent risks arising, and the management must implement compliance policy, undertake an official It fails to ensure that the corrective or disciplinary action is taken, if any breaches are identified. The Compliance Supervisor shall immediately notify the Board of Directors or its sub-committee of any successive failures that entail significant risks of imposing legal or regulatory sanctions on the bank, or incurring financial losses and affecting its reputation). The reports prepared by the Director of the Compliance Department (Compliance Monitor) must be accurate, timely, and comprehensive in terms of the strengths and weaknesses of the conductor’s compliance practices: they must be under strictly any professional risks, financial violations, and other violations. Exposure of the bank to significant risks Article Four:. Requirements for Compliance Department The Compliance Department of the bank must be independent in terms of functional, administrative and technical aspects. The concept of independence depends on four elements related to this independence, namely: - That the Proverbs Department have an official character within the bank to appoint a compliance observer, who has overall responsibility for coordinating compliance risks The bank has the obligation not to assign the personnel of the ward department, in particular the compliance monitor, in a position where conflicts of interest may occur between their exceptional responsibilities and the work of the accountant assigned to it. And that compliance department staff have access to information and access to employees, in order to fulfill their responsibilities 2. The bank must obtain the approval of the Central Bank of Iraq to appoint and dismiss the compliance observer by decision 3. The executive management of the bank must notify the board of directors that the proverbs observer will assume his duties or leave his position, and if the compliance auditor leaves his position, he must also inform them of the reasons for leaving those duties. With regard to the branches of banks operating at the international level, which have local officials for compliance, the Central Bank of Iraq must be notified that the Proverbs Observer will assume the functions of his job or leave it 4 that the bank’s Compliance Department have sufficient and appropriate financial and human resources and that those resources that should be provided for an activity Compliance is adequate and appropriate in order to ensure the compliance risk management with the bank to carry out its work effectively, and the compliance activity staff must have the qualifications, expertise and professional and personal characteristics, to be familiar with the laws and regulations in force 5 - The employees of the compliance function possess the necessary national skills - with regard to keeping abreast of developments in compliance procedures, rules and standards, by holding educational and training sessions organized for them, on a regular basis 6 - The responsibilities of the compliance activity at the bank must aim to assist the executive management In managing compliance risks, which the bank faces effectively; the responsibilities of the compliance activity are defined according to these controls and if some of these responsibilities are performed by employees working in different departments, then the distribution of responsibilities to each department should be specified. Clarity. These responsibilities include: advice. MODE) guidance and education. Identify, measure and assess compliance risks. Monitoring, testing and reporting risks. o. Legal responsibility, auto-contact and coordination with relevant external parties, regulators, standards holders and external experts are charged with upholding the responsibilities defined in the bank's compliance policy. That the scope and extent of the Compliance Department be subject to periodic review by EE-M. . The executive management of fate must supervise compliance department employees in professional development courses and roast the necessary amounts for that, in order to keep abreast of recent developments in the field of compliance, and when the Iraqi Central Construction evaluates the performance of the moderation department in any bank, it will take into account that these effects are part Regardless of the risk management in the banker with relevant information and that the compliance department in the bank interacts and cooperates with the internal audit department with regard to relevance, in areas related to the evaluation of the bank’s performance Banks must comply with the applicable laws and regulations in all areas of jurisdiction in which they carry out their business, and the organization and structure of the compliance department and its responsibilities should be coordinated with all legal requirements and compliance is one of the basic activities in risk management within the bank. Sources may be used to perform specific tasks related to the compliance activity, and those tasks and sources must remain subject to the effective supervision of the compliance department director. The bank and the company providing the services used by the bank, are still accountable to that bank. 4 2 Quote Link to comment Share on other sites More sharing options...
horsesoldier Posted January 13, 2020 Report Share Posted January 13, 2020 I love cartoony(s) 🤡👺🤖🤠🙀🕺🏿 5 Quote Link to comment Share on other sites More sharing options...
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