Iraqi News Highlights Tuesday Afternoon 1-31-23
Tlm724 Administrator Bondlady’s Corner
Saleh: Iraq Is Seeking Full Membership In The International Financial Action Organization
Economie| 12:55 – 01/31/2023 Baghdad – Mawazine News, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Tuesday, Iraq’s efforts to obtain full membership in the International Financial Action Organization.
Salih said, “The first amendment to the Iraq Money Recovery Fund Law No. 7 of 2019 added an explicit text contained in the provisions of Article 14 of it, indicating that the government is obligated 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 money,” according to the official news agency.
He added, “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 International Financial Action Organization, which is based in Paris and belongs to the Organization for Economic Cooperation and International Development.” Concerned in the field of international cooperation to combat money laundering activities, crime funds and terrorism.
He continued, “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 On 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://www.mawazin.net/Details.aspx?jimare=218043
Parliamentary Finance Discusses With The Governor Of The Central Bank The High Exchange Rates Of The Dollar
Money and business Economy News-Baghdad The Parliamentary Finance Committee discussed, on Tuesday, with the governor of the Central Bank, the high exchange rates of the dollar.
A statement by the House of Representatives media department stated that “the Chairman of the Finance Committee, Atwan Al-Atwani, and in the presence of the members of the committee, received the Governor of the Central Bank, Ali Mohsen Al-Alaq, at the committee’s headquarters.”
The statement added that “during the meeting, the issue of the fluctuation of the exchange rates of the Iraqi dinar against the dollar and the possibility of controlling it to preserve the market was discussed, as well as a discussion of its repercussions on citizens and the steps of the Central Bank and the procedures followed by it.” https://economy-news.net/content.php?id=32189
A Deputy Reveals The Existence Of “Huge” Money That Banks Give To Influential People And Smuggles Out Of The Country
Tuesday 31 January 2023 14:08 | political Number of readings: 394 Baghdad / NINA /- The representative of the State of Law Coalition, Muhannad Al-Khazraji, revealed huge funds granted by banks to influential personalities, / he did not name them / under the title of loans, indicating that these funds are smuggled abroad and are not invested inside the country.
Al-Khazraji said in a statement: “Some influential people are taking advantage of financial and administrative corruption to obtain huge amounts of money from banks and smuggle them out of the country under the headings of trade, investment and others.”
And between: “The guarantees that are imposed on these amounts are not real, amounting to less than 5% of the borrowed amount.”
Al-Khazraji explained: “This money is from the state’s budget and is deducted from the people’s sustenance,” noting that “the continuous thefts will negatively affect the entire economic situation, and will work to perpetuate the dollar crisis and currency smuggling.”
And he stressed: “The need for the Supreme Anti-Corruption Authority to intervene by following up on this important file, holding the defaulters accountable, and ending the rampant corruption in banks, especially those that grant commercial loans.”/ End 7
https://ninanews.com/Website/News/Details?Key=1030215
The Central Bank announces Iraq’s acceptance of the “Egmont” group to combat money laundering
Tuesday, January 31, 2023 8:00 PM Baghdad / The National News Center The Central Bank of Iraq announced, today, Tuesday, that Iraq has accepted the Egmont Group of Financial Intelligence Units concerned with providing support to governments in combating money laundering, terrorist financing, and other financial crimes.
The bank stated in a statement, received by the National News Center, that “the efforts made by Iraq represented by the Anti-Money Laundering and Terrorism Financing Office in the Central Bank of Iraq culminated in obtaining approval for the office’s nomination to join the Egmont membership of the financial investigation units after the approval of the heads of the financial investigation units during The group meetings to be held during next July.
The statement added that “the report of the field visit to the Republic of Iraq that was carried out by representatives of the sponsoring countries was discussed,” noting that “during the meeting of the Working Group on Membership, Support and Commitment MSCWG held in Senegal on 1/31/2023, the group ended after the presentation of the report by the representatives of the sponsoring countries. To nominate the office for membership in the Egmont Group with full membership during the July 2023 meetings.
It is worth noting that “the Egmont Group includes 167 countries so far and is working to facilitate the exchange of information on criminal proceeds, money laundering and terrorist financing at the international level by providing the office with a secure communications network with countries of the world, which contributes to following up the movement of funds internationally and strengthening financial investigation procedures to reach operations Recovery of funds and assets,”
pointing out that “the support provided by the group includes expanding the scope and organization of international cooperation in the exchange of financial intelligence information, increasing the effectiveness of financial information units by providing training and exchanging employees to improve the expertise and capabilities of employees, and enhancing safe communication between units through Technology application via the Egmont Secure Network. https://nnciraq.com/183638/
International Islamic Bank: The Central Bank Of Iraq Will Soon Adopt The Merchant’s Deposit In Dinars
Tuesday 31 January 2023 14:50 | Economical Number of readings: 254 Baghdad / NINA / – The International Islamic Bank announced that the Central Bank of Iraq will soon approve the merchant’s deposit in dinars and receipt of the dollar according to the bank address in the country from which it is imported.
And the Islamic Bank stated in a statement: “The Chairman of the Board of Directors and Managing Director of the International Islamic Bank met with the Deputy Governor of the Central Bank and the Consultant, and in the presence of the general managers and other invited banks.”
He added: “The instructions that will be issued soon have been consulted about the ceilings of remittances and the mechanism of credits and the simplification of procedures in order to facilitate international trade services for merchants of all kinds (individuals and companies), and the issuance of credits and transfers according to specific ceilings in a way that regulates the new banking work for the next stage and approving the merchant’s deposit in dinars to the bank.” Private and receive a dollar according to the bank address (Ibn number) in favor of the bank account in the country from which it was imported./ End 7 https://ninanews.com/Website/News/Details?key=1030223
A New Rise In The Exchange Rates Of The Dollar Against The Dinar
Economie| 10:19 – 01/31/2023 Baghdad – Mawazine News Today, Tuesday, the exchange rates of the dollar witnessed a slight increase in the local markets. Selling price: 167,500 dinars per 100 dollars . Buying price: 167,000 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=218023
The Central Bank Meets With Banks To Discuss The Dollar Crisis
Economie| 10:09 – 01/31/2023 Baghdad – Mawazine News An informed source said, on Tuesday, that a meeting had begun at the Central Bank to discuss the crisis of the dollar’s high exchange rate.
The source told Mawazine News, “A short time ago, a meeting began in the Central Bank building, in the presence of all banks.” The source, who asked not to be named, added that “the meeting comes to discuss the dollar crisis.” https://www.mawazin.net/Details.aspx?jimare=218022
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