Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

The Ministry of Foreign Affairs announces Iraq's exit from the European Union's list of high-risk countries


Recommended Posts

On 1/21/2022 at 1:18 PM, Officiallytook said:

Drop those zeros Iraq and add them to my account 💰💰💰 really wish this would happen right now, so I can funnel it all into crypto so I can 🦍🤑 into some low cap gems 😆

yes me too low cap gems are the place to be!

  • Pow! 2
Link to comment
Share on other sites

  • 3 weeks later...
Feb. 11, 2022

Will Iraq’s exit from EU money laundering blacklist bring investment?

 
An employee of a currency exchange counter shows a stack of Iraqi dinars in Nasiriyah, Iraq on Dec. 20, 2020. (Photo via Getty Images)

The European Union (EU) has removed Iraq from its list of high-risk countries for money laundering and terrorism financing. Iraqi Prime Minister Mustafa Al-Kadhimi attributed the delisting to a “manifestation of our effective diplomatic efforts.” The move comes at a time of immense economic hardship in Iraq, and could bring about positive change by attracting direly-needed foreign investment.

The delisting will make it easier, at least on paper, for European and other foreign investors to operate in the country. Importantly, it eases constraints on remittances to and from Iraq, among other positive knock-on effects for the local banking sector. But Iraq will still need to effectively implement financial and banking reforms as well as seriously tackle endemic corruption to secure tangible and lasting...

https://amwaj.media/article/iraq-money-laundering-terrorism-financing

  • Like 1
  • Thanks 1
  • Upvote 2
Link to comment
Share on other sites

  • Time: 02/14/2022 14:49:13
  •  
  • Reading: 585 times
Government advisor: Iraq's money abroad is surrounded by a high legal fence
  
{Economic: Al Furat News} A financial advisor to Prime Minister Mustafa Al-Kazemi reassured about Iraq's funds and assets abroad.

Mazhar Muhammad Salih told {Euphrates News}: “Since the issuance of UN Security Council Resolution No. 1483 in May 2003, the United States has linked Iraqi oil to the compensation for the Kuwait war, and that the money is placed in the Federal Reserve Bank in New York. Iraq has been since 2003 and until 2013 is protected by US Presidential Order.
And he indicated that "this decision protects Iraq's money from any legal claims or lawsuits brought by creditors."
Saleh noted, "The United Nations issued a resolution in 2010 to lift protection, and Iraq's funds and revenues remained stable and surrounded by a high fence of legal protection, and Iraq's funds remained protected."

US President Joe Biden's decision, which he signed last Friday, to dispose of $7 billion of the frozen assets of the Afghan Central Bank and give part of it to the victims of the September 11, 2001 attacks, raised Iraqi fears of a similar behavior by the US administration towards Iraqi funds in the United States.
But the Iraqi government dispelled these concerns about Iraqi assets and said that "it cannot happen to Iraq as it happened with Afghanistan, because relations with the United States are good and normal."
A government advisor to Al Furat News stressed, "Dealing with the Iraqi financial system and in the United States on a regular basis, and that Iraq has ambitions for high stability," noting that "our relations with America are sufficient to stand up to any such demands."

Raghad Daham

  • Thanks 2
  • Upvote 2
Link to comment
Share on other sites

**Government advisor: Iraq’s money abroad is surrounded by a high legal fence**

14th February, 2022

A financial advisor to Prime Minister Mustafa Al-Kazemi reassured about Iraq’s funds and assets abroad.

Mazhar Muhammad Salih told {Euphrates News}: “Since the issuance of UN Security Council Resolution No. 1483 in May 2003, the United States has linked Iraqi oil to the compensation for the Kuwait war, and that the money is placed in the Federal Reserve Bank in New York. Iraq has been since 2003 and until 2013 is protected by US Presidential Order.

And he indicated that “this decision protects Iraq’s money from any legal claims or lawsuits brought by creditors.”

Saleh noted, “The United Nations issued a resolution in 2010 to lift protection, and Iraq’s funds and revenues remained stable and surrounded by a high fence of legal protection, and Iraq’s funds remained protected.”

US President Joe Biden’s decision, which he signed last Friday, to dispose of $7 billion of the frozen assets of the Afghan Central Bank and give part of it to the victims of the September 11, 2001 attacks, raised Iraqi fears of a similar behavior by the US administration towards Iraqi funds in the United States. But the Iraqi government dispelled these concerns about Iraqi assets and said that “it cannot happen to Iraq as it happened with Afghanistan, because relations with the United States are good and normal.”

A government advisor to Al Furat News stressed, “Dealing with the Iraqi financial system and in the United States on a regular basis, and that Iraq has ambitions for high stability,” noting that “our relations with America are sufficient to stand up to any such demands.”
https://alforatnews.iq/news/مستشار-حكومي-أموال-العراق-في-الخارج-محاطة-بسياج-قانوني-عالٍ

  • Like 1
  • Thanks 3
  • Upvote 1
Link to comment
Share on other sites

Feb. 11, 2022

Will Iraq’s exit from EU money laundering blacklist bring investment?

https://amwaj.media/article/iraq-money-laundering-terrorism-financing

 

An employee of a currency exchange counter shows a stack of Iraqi dinars in Nasiriyah, Iraq on Dec. 20, 2020. (Photo via Getty Images)

The European Union (EU) has removed Iraq from its list of high-risk countries for money laundering and terrorism financing. Iraqi Prime Minister Mustafa Al-Kadhimi attributed the delisting to a “manifestation of our effective diplomatic efforts.” The move comes at a time of immense economic hardship in Iraq, and could bring about positive change by attracting direly-needed foreign investment.

The delisting will make it easier, at least on paper, for European and other foreign investors to operate in the country. Importantly, it eases constraints on remittances to and from Iraq, among other positive knock-on effects for the local banking sector. But Iraq will still need to effectively implement financial and banking reforms as well as seriously tackle endemic corruption to secure tangible and lasting...

  • Like 1
  • Thanks 4
  • Upvote 3
Link to comment
Share on other sites

  • 2 weeks later...
45 minutes ago, dinarham said:

Take Swift Filing away from Russia and give it to Iraq .

This is probably dumb of me for saying but didn’t we see Iraq get there swift numbers a year or 2 ago? There pretty good at confusing me 

  • Upvote 2
Link to comment
Share on other sites

48 minutes ago, dinarham said:

Take Swift Filing away from Russia and give it to Iraq .

Iraq has had the Swift system for many years….

  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

   

15 hours ago, DoD said:

Iraq has had the Swift system for many years….

  Iraq does not appear on the list of countries with swift filing , at least on my research on the internet . I stand to be corrected .

  • Thanks 2
Link to comment
Share on other sites

 

On Fox News this morning - Pete Hegseth said that all Americans are Googling today - What is "SWIFT"????? 

   

Forget about SWIFT!  We don't need it.  It's XRP, Baby!!!!!  XRP is the one!  It's the only one!   😂 😂 😂 

  • Like 1
  • Haha 4
  • Upvote 1
Link to comment
Share on other sites

4 hours ago, dinarham said:

   

  Iraq does not appear on the list of countries with swift filing , at least on my research on the internet . I stand to be corrected .

I just Googled Warka Bank, Bank of Baghdad and Commercial Bank of Iraq and got all their Swift numbers….

  • Upvote 4
Link to comment
Share on other sites

Thanks for the info on Swift . As a normal plebian with limited innerweb skills , I couldn't find Iraq being  on the list of Swift countries .  I 'm baffled as to why countries under Ch7 have access to Swift . Does Iran have Swift ? 

Link to comment
Share on other sites

6 minutes ago, dinarham said:

Thanks for the info on Swift . As a normal plebian with limited innerweb skills , I couldn't find Iraq being  on the list of Swift countries .  I 'm baffled as to why countries under Ch7 have access to Swift . Does Iran have Swift ? 

Short answer yes, the Trump sanctions stopped a lot of banks but I think even most of them are back on line with this new US president….

  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

On 2/28/2022 at 7:03 AM, dinarham said:

Thanks for the info on Swift . As a normal plebian with limited innerweb skills , I couldn't find Iraq being  on the list of Swift countries .  I 'm baffled as to why countries under Ch7 have access to Swift . Does Iran have Swift ? 

i have had an Iraq bank debit card for years, and in the early days managed to withdraw cash from an ATM here in Australia, so they are connected...

  • Like 1
Link to comment
Share on other sites

i can also tell you that I have been trying to withdraw some money out of iraq and the bank of baghdad for weeks now, and been getting the run around. a week ago they offered me the opportunity to use western union I agreed, have been waiting a week and now tonight they tell me they will try again using swift.....lets see what happens.

  • Like 1
  • Thanks 4
  • Upvote 1
Link to comment
Share on other sites

Iraq is off the (grey) list for money laundering

Monday 07 March 2022 1

Iraq is off the (grey) list for money laundering
 
 Samir Al-Nusairi
 
The International Financial Action Task Force (FATF), which is concerned with monitoring the implementation of standards for money laundering and combating the financing of terrorism in central banks in the countries of the world, consisting of 39 members and headquartered in France, issued its statement yesterday, Friday, in which it announced a list of 20 Arab, foreign and regional countries, drawn up by In the (gray) monitoring area, which are countries whose international dealings are marred by suspicions, which will affect their international banking relations and require them to take measures and policies to reduce suspicions and prove their strict adherence to international standards for combating money laundering and terrorist financing.
What concerns us in the aforementioned statement is that Iraq is outside the list of countries under surveillance, and this means that the Central Bank of Iraq continues to abide by international standards for compliance and anti-money laundering and terrorist financing rules, and that its international banking transactions are not tainted by any negative comments, and that Iraq has maintained a disciplined manner since the year 2018 when it was within the control area (gray) and was moved to the green zone, which is the normal follow-up area, every two years, to which all countries committed to international standards are subject, and this was previously achieved by Iraq when the Central Bank liquidated about 700 notes on his international banking dealings.
And that the important and basic thing is that Iraq was able during the years 2020 and 2021, which are the years of crises, challenges and economic, financial and epidemiological shocks, to strengthen and activate controls, instructions, self-regulation, institutional and legal control, control the movement of foreign exchange, control the movement of imports and foreign remittances, and strengthen banking relations with countries of the world and issue instructions The sale and purchase of foreign currency for the year 2021, which enabled it to maintain its position in the assessments of the International Financial Action Task Force.
This was reinforced by the efforts made by the Central Bank and the Ministry of Foreign Affairs to convince the European Union of its decision to lift the name of Iraq from the high-risk countries last month.
 
* Economic and banking consultant
  • Like 5
  • Upvote 5
  • Pow! 1
Link to comment
Share on other sites

On 3/7/2022 at 4:57 AM, 6ly410 said:

Iraq is off the (grey) list for money laundering

Monday 07 March 2022 1

Iraq is off the (grey) list for money laundering
 
 Samir Al-Nusairi
 
The International Financial Action Task Force (FATF), which is concerned with monitoring the implementation of standards for money laundering and combating the financing of terrorism in central banks in the countries of the world, consisting of 39 members and headquartered in France, issued its statement yesterday, Friday, in which it announced a list of 20 Arab, foreign and regional countries, drawn up by In the (gray) monitoring area, which are countries whose international dealings are marred by suspicions, which will affect their international banking relations and require them to take measures and policies to reduce suspicions and prove their strict adherence to international standards for combating money laundering and terrorist financing.
What concerns us in the aforementioned statement is that Iraq is outside the list of countries under surveillance, and this means that the Central Bank of Iraq continues to abide by international standards for compliance and anti-money laundering and terrorist financing rules, and that its international banking transactions are not tainted by any negative comments, and that Iraq has maintained a disciplined manner since the year 2018 when it was within the control area (gray) and was moved to the green zone, which is the normal follow-up area, every two years, to which all countries committed to international standards are subject, and this was previously achieved by Iraq when the Central Bank liquidated about 700 notes on his international banking dealings.
And that the important and basic thing is that Iraq was able during the years 2020 and 2021, which are the years of crises, challenges and economic, financial and epidemiological shocks, to strengthen and activate controls, instructions, self-regulation, institutional and legal control, control the movement of foreign exchange, control the movement of imports and foreign remittances, and strengthen banking relations with countries of the world and issue instructions The sale and purchase of foreign currency for the year 2021, which enabled it to maintain its position in the assessments of the International Financial Action Task Force.
This was reinforced by the efforts made by the Central Bank and the Ministry of Foreign Affairs to convince the European Union of its decision to lift the name of Iraq from the high-risk countries last month.
 
* Economic and banking consultant

great news

  • Like 1
  • Upvote 2
Link to comment
Share on other sites

  • 1 month later...

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.