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The Association of banks: money laundering Act legislation will be supportive of the banking sector
2015/07/04
Baghdad/...
Iraqi private banks Association confirmed Wednesday that the Cabinet approval of the money laundering Act will be supportive of the banking sector in Iraq, while noting that this law will give universal confidence in foreign dealings with Iraqi banks, showed that banks will comply with the law.
President of the Association of banks, said Wadih bitter melon in a statement received agency/information/a copy of the "confirmation of Cabinet Bill on combating money laundering and terrorist financing of important laws and supporting the banking sector", pointing out that "this law will provide the framework and concepts and provisions that empower the Central Bank and other relevant actors from using appropriate tools to combat money laundering and terrorist financing and develop a deterrent such practices".
Bitter melon added that "this law will give universal confidence in dealings with foreign banks," he said, adding that "all member banks eager to comply with the law if enacted as the subject of importance and direct impact on the economy and society, especially at the present stage."
He explained that "this law legislation avoids Iraq entering from the blacklist if it was passed by Parliament in the period close."
Central Bank Governor Ali al-allaq, commended earlier, Cabinet resolution vote on a draft law submitted by the Central Bank, which has been developed according to the latest international norms and conventions and in coordination with the World Bank and the financial action task force and international organizations. Finished/25 x
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2015/07/04
Baghdad/...
Iraqi private banks Association confirmed Wednesday that the Cabinet approval of the money laundering Act will be supportive of the banking sector in Iraq, while noting that this law will give universal confidence in foreign dealings with Iraqi banks, showed that banks will comply with the law.
President of the Association of banks, said Wadih bitter melon in a statement received agency/information/a copy of the "confirmation of Cabinet Bill on combating money laundering and terrorist financing of important laws and supporting the banking sector", pointing out that "this law will provide the framework and concepts and provisions that empower the Central Bank and other relevant actors from using appropriate tools to combat money laundering and terrorist financing and develop a deterrent such practices".
Bitter melon added that "this law will give universal confidence in dealings with foreign banks," he said, adding that "all member banks eager to comply with the law if enacted as the subject of importance and direct impact on the economy and society, especially at the present stage."
He explained that "this law legislation avoids Iraq entering from the blacklist if it was passed by Parliament in the period close."
Central Bank Governor Ali al-allaq, commended earlier, Cabinet resolution vote on a draft law submitted by the Central Bank, which has been developed according to the latest international norms and conventions and in coordination with the World Bank and the financial action task force and international organizations. Finished/25 x
[You must be registered and logged in to see this link.]
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