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Iraqi warns the country to the list of countries included jaded with money laundering
07-05-2015 02:00 PM
In a striking scene the Iraqi economic warnings of the consequences of continuing money laundering operations and smuggled abroad, the financial sector was highlighted by the experts in this area to combat financial crime with which the Iraqi Parliament decided to set up, in order to acquire legal force to bring the perpetrators to justice.
Financial expert cautioned Sadiq Mahmoud, told, include Iraq on the list of countries with lax money laundering, saying that Iraq's work on anti-money laundering system without a formal law regulates the currency, would make him likely to put him on a blacklist of countries that are undergoing the process of with impunity.
The Central Bank of Iraq Act since 2004 to help combat money laundering, but from time to time announces that he is organizing a special Act to the House of representatives, but that did not happen.
Mahmoud spoke about the consequences, adding that its inclusion on the blacklist, is the inability of some companies to implement investment projects, because their laws do not permit, as well as doubts as to the International Monetary Fund and the World Bank in the financing of Iraq through loans, and the Government and Central Bank over time, from a money-laundering operations and in Iraq.
The Iraqi Parliament was to form a tripartite Committee two months ago to discuss fighting money laundering, said collecting information and proof of many on the subject, in addition to the smuggling of hard currency.
She is a member of the parliamentary Finance Committee that the virtues of Hamdoon, Iraqi currency decline against the dollar, leading to the formation of a Committee to follow up the money-laundering and smuggling of foreign currency. It also would follow the work of the Central Bank and the amount to be sold, as well as the work of the Government and private banks, which sell large amounts of dollars.
She stressed that the members of the Commission are determined to work hard to pursue violations and corruption occurring as a result of money laundering and currency smuggling. And stop manipulating the currency will significantly drop in the dollar to dinar.
Economist Ahmed felt _ that money laundering and smuggling of foreign currencies which had emerged strongly after 2003 as a result of the emergence of financial and economic mafia because of the weakness of the rule of law, the low performance of SAIs. The money laundering, international crime directly related to the illegal activities of the underground works, the so-called shadow economy.
Drew _ to the growth of this phenomenon with Central Bank action to provide cheap dollar via currency auction without strict controls on imports, has created a big opportunity for the financial mafias to eject large amounts of dollars from Iraq. And regulators responsible for growing phenomena, and a fast processors coincided with action by the Central Bank of Iraq.
In theme related, central banks and warned companies of financial transfer, brokerage firms from selling and buying foreign exchange, include duty and income tax on its sales of the dollar in transactions related to imports, leading to increased exchange rate on citizens and buyers of the dollar to non-commercial uses, so the high price on all sales». He announced that this indicates the illegal exploitation.
The Central warning that cash sales of dollars dedicated to specific targets is not a sale for the purposes of trade, import remittances, credits covered.
Central was adopted a new mechanism to control money laundering and selling the dollar for import, which paid the tax and customs in advance for imported goods to sell it to banks in order to import. Expected to contribute to such a mechanism in the doubling of financial resources of the State.
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07-05-2015 02:00 PM
In a striking scene the Iraqi economic warnings of the consequences of continuing money laundering operations and smuggled abroad, the financial sector was highlighted by the experts in this area to combat financial crime with which the Iraqi Parliament decided to set up, in order to acquire legal force to bring the perpetrators to justice.
Financial expert cautioned Sadiq Mahmoud, told, include Iraq on the list of countries with lax money laundering, saying that Iraq's work on anti-money laundering system without a formal law regulates the currency, would make him likely to put him on a blacklist of countries that are undergoing the process of with impunity.
The Central Bank of Iraq Act since 2004 to help combat money laundering, but from time to time announces that he is organizing a special Act to the House of representatives, but that did not happen.
Mahmoud spoke about the consequences, adding that its inclusion on the blacklist, is the inability of some companies to implement investment projects, because their laws do not permit, as well as doubts as to the International Monetary Fund and the World Bank in the financing of Iraq through loans, and the Government and Central Bank over time, from a money-laundering operations and in Iraq.
The Iraqi Parliament was to form a tripartite Committee two months ago to discuss fighting money laundering, said collecting information and proof of many on the subject, in addition to the smuggling of hard currency.
She is a member of the parliamentary Finance Committee that the virtues of Hamdoon, Iraqi currency decline against the dollar, leading to the formation of a Committee to follow up the money-laundering and smuggling of foreign currency. It also would follow the work of the Central Bank and the amount to be sold, as well as the work of the Government and private banks, which sell large amounts of dollars.
She stressed that the members of the Commission are determined to work hard to pursue violations and corruption occurring as a result of money laundering and currency smuggling. And stop manipulating the currency will significantly drop in the dollar to dinar.
Economist Ahmed felt _ that money laundering and smuggling of foreign currencies which had emerged strongly after 2003 as a result of the emergence of financial and economic mafia because of the weakness of the rule of law, the low performance of SAIs. The money laundering, international crime directly related to the illegal activities of the underground works, the so-called shadow economy.
Drew _ to the growth of this phenomenon with Central Bank action to provide cheap dollar via currency auction without strict controls on imports, has created a big opportunity for the financial mafias to eject large amounts of dollars from Iraq. And regulators responsible for growing phenomena, and a fast processors coincided with action by the Central Bank of Iraq.
In theme related, central banks and warned companies of financial transfer, brokerage firms from selling and buying foreign exchange, include duty and income tax on its sales of the dollar in transactions related to imports, leading to increased exchange rate on citizens and buyers of the dollar to non-commercial uses, so the high price on all sales». He announced that this indicates the illegal exploitation.
The Central warning that cash sales of dollars dedicated to specific targets is not a sale for the purposes of trade, import remittances, credits covered.
Central was adopted a new mechanism to control money laundering and selling the dollar for import, which paid the tax and customs in advance for imported goods to sell it to banks in order to import. Expected to contribute to such a mechanism in the doubling of financial resources of the State.
[You must be registered and logged in to see this link.]
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