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Association of Iraqi banks support the government in the fight against money laundering
September 8th, 2015
Baghdad morning's New:
Prime «Iraqi private banks association» Wadih Nuri al-Handal description stage through which the Iraqi banking sector, Balassabp and exceptional «in terms of the size of the challenges shared by other sectors of the economy, what requires decisive decisions by those concerned, in the forefront of the sector immunization of financial and administrative corruption ».
, he said in a press interview, said that «Association, which fall under its roof about 40 private banks and branches of Arab and foreign banks operating in Iraq, is keen to activate the measures taken by the authorities concerned, especially the Central Bank of Iraq, to curb crimes money laundering with an emphasis on the importance of taking preventive steps to strengthen the control over the output of funds from Iraq within the framework of maintaining national financial wealth ». The «vision of the Association is based on the active participation to achieve any success in this area, and that Iraqi banks looking forward to a true partnership between the state and the private sector, in order to serve the achievement of sustainable development and the face of terrorism and the implementation of reforms sought by the citizen».
He pointed to take steps to activate cooperation between government and private banks, within the Central Bank of Iraq Initiatives for the disbursement of 830 billion dinars (about 680 million dollars) for small and medium projects, what would move the domestic market and the reduction of unemployment, as well as other steps relating to increase support for private banks to enhance their lending and funding.
He noted, In his speech for the «life», to «a lot of the points made in media reports published on the subject of calendar Activity private banks, including those related to the effort to curb smuggling money abroad through commercial operations be fake in some cases», stressing the need to « to address this phenomenon in accordance with the law and pursuant to instructions issued, and the Association of solidarity with any deterrent steps in this regard. » The «disposal of some banks that offend the national economy and the banking sector, does not have to reflect the preset position of the private banking sector, what is required diagnosis of the situation and the adoption of the law in addressing them».
He was a member of the Finance Committee in the House of Representatives Haider al-Kaabi stressed that «the Commission put , in coordination with the concerned authorities in the Ministry of Finance and the Central Bank, a mechanism to reduce the phenomenon of hard currency that you get under the pretext of shoddy goods imported or exported smuggling », accusing some private banks to facilitate the work of the smugglers of hard currency through fake business operations. He attributed Kaabi said in a statement «the persistence of currency smuggling in some private banks to entrust some traders and shops sell the currency and buy them from the central bank without deposit bill under the pretext of importing children's toys or construction materials monstrous proportions». He explained that «some private banks, foreign exchange trading and speculating in the local markets, and through it seeks to collect huge sums of money to be smuggled». The executive director for «Association of private banks» Ali Tariq vacationer «Association is working with the Central Bank to develop a strategy for evaluating the work of these banks across monitored», pointing out that «the central supports private banks exposed to a lack of financial liquidity, which can contribute to restore confidence of citizens Private banks. » He called for accelerating the statutory declaration guarantee deposits and the fight against money laundering, as it will allow the first guarantee deposits of citizens with private banks through the Deposit Insurance Corporation, including restores the confidence of the citizens of these banks, while the second will work to strengthen international banks the confidence of the Iraqi counterpart classified within the gray area.
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September 8th, 2015
Baghdad morning's New:
Prime «Iraqi private banks association» Wadih Nuri al-Handal description stage through which the Iraqi banking sector, Balassabp and exceptional «in terms of the size of the challenges shared by other sectors of the economy, what requires decisive decisions by those concerned, in the forefront of the sector immunization of financial and administrative corruption ».
, he said in a press interview, said that «Association, which fall under its roof about 40 private banks and branches of Arab and foreign banks operating in Iraq, is keen to activate the measures taken by the authorities concerned, especially the Central Bank of Iraq, to curb crimes money laundering with an emphasis on the importance of taking preventive steps to strengthen the control over the output of funds from Iraq within the framework of maintaining national financial wealth ». The «vision of the Association is based on the active participation to achieve any success in this area, and that Iraqi banks looking forward to a true partnership between the state and the private sector, in order to serve the achievement of sustainable development and the face of terrorism and the implementation of reforms sought by the citizen».
He pointed to take steps to activate cooperation between government and private banks, within the Central Bank of Iraq Initiatives for the disbursement of 830 billion dinars (about 680 million dollars) for small and medium projects, what would move the domestic market and the reduction of unemployment, as well as other steps relating to increase support for private banks to enhance their lending and funding.
He noted, In his speech for the «life», to «a lot of the points made in media reports published on the subject of calendar Activity private banks, including those related to the effort to curb smuggling money abroad through commercial operations be fake in some cases», stressing the need to « to address this phenomenon in accordance with the law and pursuant to instructions issued, and the Association of solidarity with any deterrent steps in this regard. » The «disposal of some banks that offend the national economy and the banking sector, does not have to reflect the preset position of the private banking sector, what is required diagnosis of the situation and the adoption of the law in addressing them».
He was a member of the Finance Committee in the House of Representatives Haider al-Kaabi stressed that «the Commission put , in coordination with the concerned authorities in the Ministry of Finance and the Central Bank, a mechanism to reduce the phenomenon of hard currency that you get under the pretext of shoddy goods imported or exported smuggling », accusing some private banks to facilitate the work of the smugglers of hard currency through fake business operations. He attributed Kaabi said in a statement «the persistence of currency smuggling in some private banks to entrust some traders and shops sell the currency and buy them from the central bank without deposit bill under the pretext of importing children's toys or construction materials monstrous proportions». He explained that «some private banks, foreign exchange trading and speculating in the local markets, and through it seeks to collect huge sums of money to be smuggled». The executive director for «Association of private banks» Ali Tariq vacationer «Association is working with the Central Bank to develop a strategy for evaluating the work of these banks across monitored», pointing out that «the central supports private banks exposed to a lack of financial liquidity, which can contribute to restore confidence of citizens Private banks. » He called for accelerating the statutory declaration guarantee deposits and the fight against money laundering, as it will allow the first guarantee deposits of citizens with private banks through the Deposit Insurance Corporation, including restores the confidence of the citizens of these banks, while the second will work to strengthen international banks the confidence of the Iraqi counterpart classified within the gray area.
[You must be registered and logged in to see this link.]
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