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Central heads the agenda of the twentieth session of the (MENAFATF)
11/19/2014 0:00
BAGHDAD Mustafa al-Hashemi
Iraq is seeking to prevent the phenomenon of money laundering and reduction in addition to his tireless efforts to cut off funding for terrorism, which erode the country's economy for years, comes through the activation of the supervisory role and interact with the Arab financial organizations as a group of financial work for the Middle East and North Africa (MENAFATF).
In this regard, a source in the Iraqi Central Bank said that the bank's governor, Dr. Ali Keywords terrace acts of the 20th session of the group, which started its operations in Bahrain recently, which will last until the atheist and the twentieth of this month, to discuss the fight against money laundering and financing issues Alarhab.ottalv Group of 18 members, all Arab countries, in addition to the 15 observers from countries and financial organizations and institutions Aalmih.utedf MENAFATF group to implement the recommendations forty FATF on combating money laundering and the financing of terrorism and the proliferation of arms, and the implementation of treaties and conventions of the United Nations and Security Council resolutions relevant; in addition to cooperation in the including to promote adherence to these standards in the Middle East and North Africa region and cooperation with other organizations, institutions and regional and international bodies to promote adherence by Dolaa.kma Group aims to work together to identify issues related to money laundering and terrorist financing of regional nature, and the exchange of expertise in the matter and the development of solutions to deal with it ; as well as measures across the region to combat money laundering and terrorist financing effectively and not inconsistent with the cultural values of the Member States and the constitutional frameworks and legal systems. The group is a voluntary and cooperative nature independent of any other body or international organization, established by agreement between the governments of its members, was not based on an international treaty created, which specifies work and systems, rules and procedures, and cooperate with other international bodies, especially the FATF to achieve its goals.
On November 30 2004, a ministerial meeting was held in Manama, Bahrain, where the governments of 14 Arab countries decided to establish the Financial Action Task Force for the Middle East and North Africa in order to combat money laundering and terrorist financing (MENAFATF) works along the lines of FATF (FATF), it was agreed to be the host country is the Kingdom of Bahrain.
On the other hand the central bank decided to reduce his commission on the sale of the dollar for the purposes of credits from 18 to 16 dinars to be the selling price of the dollar is 1182 dinars per dollar, instead of 1184.
The bank said in a statement that this measure comes to the purpose of encouraging traders on the opening credits.
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