Iraqi Middle East Bank carries out money laundering and the central bank decides to punish him

Iraqi Middle East Bank carries out money laundering and the central bank decides to punish him

Published 08/01/2013 10:39 AM

BAGHDAD – “arenas of Liberation”
Iraqi central bank decided to punish Bank of the Middle East for violating the provisions of the anti-money laundering law No. 93 of 2004 and the regulations issued thereunder.
The bank said in a statement today that “During the audit issued transfers from the bank for each of Sarmad the Shaukat Paul and Marwan Abdul Razak Abdul-Jabbar, showing مخالفتكم to the provisions of the Money Laundering Act.”

The central bank decided to “take sanctions against the bank was re-sum transfer the converted currency to the U.S. dollar to the Central Bank and by the sender’s bank, and the imposition of a fine of 2 percent on the amount of transfer from the date of conversion up to the date of payment.”
Also decided to refer all securities is fundamentalism to the judicial authorities to take necessary action to stop the bank from entering the window of foreign currency for a month as of December 30, 2012 subject to renewal.

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