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The MOU with France is covered by the provisions of the Money Recovery Law, says PM’s Advisor
Economy
Yesterday, 12:58
Baghdad-INA
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed on Tuesday, Iraq's efforts to obtain full membership in the Financial Action Task Force (FATF), while clarifying the provisions of Article 14 of the Money Recovery Law.
Salih told the Iraqi News Agency (INA), that
"The first amendment to the Iraq Money Recovery Fund Law No. 7 of 2019 added an explicit text mentioned in the provisions of Article 14 of it, It refers to obliging the government, when concluding investment or economic agreements with any country that has funds for Iraq covered by the provisions of this law, to conclude agreements with those countries to recover the funds.” He added that
"what the Prime Minister signed during his recent visit to France regarding money laundering crimes is based on the text of Article 14 of the law," noting that
"Iraq is seeking full membership in the FATF, headquartered in Paris and belonging to the Organization for International Economic Cooperation and Development, concerned in the field of international cooperation to combat money laundering activities, crime funds and terrorism.” He pointed out that
"Iraq has been an active member since 2004 in the International Financial Action Organization for the Middle East and North Africa region through the active role of the Anti-Money Laundering and Terrorist Funds Office in the Central Bank of Iraq, which operates in accordance with Law No. 39 of 2015 and provides legal cover for international cooperation, In order to preserve the funds of the Republic of Iraq, in addition to the active role played by the Supreme Council for Combating Money Laundering, which is approved by law in adopting controls and proposing the necessary regulations and legislation to protect public money.”
https://ina.iq/eng/24559-the-mou-with-france-is-covered-by-the-provisions-of-the-money-recovery-law-says-pms-advisor.html
Economy
Yesterday, 12:58
Baghdad-INA
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed on Tuesday, Iraq's efforts to obtain full membership in the Financial Action Task Force (FATF), while clarifying the provisions of Article 14 of the Money Recovery Law.
Salih told the Iraqi News Agency (INA), that
"The first amendment to the Iraq Money Recovery Fund Law No. 7 of 2019 added an explicit text mentioned in the provisions of Article 14 of it, It refers to obliging the government, when concluding investment or economic agreements with any country that has funds for Iraq covered by the provisions of this law, to conclude agreements with those countries to recover the funds.” He added that
"what the Prime Minister signed during his recent visit to France regarding money laundering crimes is based on the text of Article 14 of the law," noting that
"Iraq is seeking full membership in the FATF, headquartered in Paris and belonging to the Organization for International Economic Cooperation and Development, concerned in the field of international cooperation to combat money laundering activities, crime funds and terrorism.” He pointed out that
"Iraq has been an active member since 2004 in the International Financial Action Organization for the Middle East and North Africa region through the active role of the Anti-Money Laundering and Terrorist Funds Office in the Central Bank of Iraq, which operates in accordance with Law No. 39 of 2015 and provides legal cover for international cooperation, In order to preserve the funds of the Republic of Iraq, in addition to the active role played by the Supreme Council for Combating Money Laundering, which is approved by law in adopting controls and proposing the necessary regulations and legislation to protect public money.”
https://ina.iq/eng/24559-the-mou-with-france-is-covered-by-the-provisions-of-the-money-recovery-law-says-pms-advisor.html
