Calls for activation of the legislation on combating money laundering

9/04/2012 0:00
BAGHDAD – Hussein Tgb Tamimi

stressed by a number of economists on the need to adopt legislation legal challenge of the phenomenon of money laundering which adversely affect the reality of the local economy, accounting for this orientation phase of regression within the blocks of the global economic, which have become develop plans and sophisticated mechanisms to monitor the movement of money across countries the world. 
He noted… experts that surround this phenomenon and prevent them from attending effectively to the square of the local economy requires guidance and strict instructions issued by the Central Bank of Iraq, regulate the movement of money within the Iraqi private banks and banking companies different.  economic expert sword Hilfi said in an interview ( morning): The first step should be adopted by the country, must go toward the activation of anti-money laundering, for many reasons stand in the forefront of the volume of investments that desire to enter the country during the coming period, which require the presence of economy and well, free from all Mrbakat work is the most prominent phenomenon money laundering. He noted that the rates of economic growth in Iraq has become a large and become more than economic growth in China and India, and became our economy Kalmard Chinese, but we need to activate many of the laws, particularly the laws on the phenomenon of money laundering, and do dramatically in Iraqi private banks and public. He said there is a great desire to Iraq in response to this phenomenon effectively to the possible use of the money entering the country illegally in the direction of Tatherma on the local economy and in the violence, which requires follow-up source of money coming into the country, and the image and arrive how, why and for those who arrive and where to employ ?. He pointed to the existence of organizations large global work towards combating money laundering and Iraq, an actor in these organizations, and became the Central Bank of Iraq addressed the Iraqi banks of the importance of activating the mechanisms to address any of the practices of money laundering within the country, through the principle of know your customer and what is available from a lot of information in this area, and must involve the security forces in combating this phenomenon, because it is far far to follow up on this phenomenon, called for the involvement of security agencies in the response to such trends through the formation of specialized rooms to follow the movement of money entering the country, because this phenomenon Tncserve countries which have a the movement of large investment. stressed Hilfi the need to involve all concerned with combating the phenomenon of bank officers, accountants, security agencies in training courses outside the country to find out when the latest mechanisms for the discovery of the money entering the country through the ports illegally, and thus be immune to this phenomenon effectively. called Hilfi using the flexible mechanisms to follow up the money entering the country, and do not affect negatively the money entering the country legally to move away from new problems may disrupt smooth flow of funds that promote the Iraqi economy, which requires a study of foreign exchange accurately. said: I think that the Central Bank of Iraq to give the green light to Iraqi banks to conduct the process of foreign exchange for opening letters of credit, that is only there letters of credit opened abroad to do the conversion process external to strengthen the assets of banks abroad, and given a bigger role for banks in the process of foreign exchange either Dr. tributary pendulum Deputy Secretary of the Association Accountants and auditors Iraqis told (morning): The accountant and the auditor’s legal major role in the detection of cases of financial fraud and money that is capital of the company or institution in question and how you got the money and the extent of profitability during the year and the nature of the business carried out, and fit that work with profit annual and quarterly which added to the capital of the company. He said that in the country a lot of front companies, which imposes the need to pursue this type of company and how to get money at any trends are disbursed. He noted that many of the accountants did not find the money installed in Khtayat Fund, which represents capital of the company in the cupboards, projects, or in storage in the form of goods, and here ask where the capital of the company real?. He stressed the need to find a coordination between the Association of Accountants and auditors and the Registrar of Companies at the Ministry of Commerce to reduce the phenomenon of money laundering, and stand at the companies with real capital, which operate within the country as a regular and legal and have the elements of achievement with its staff and equipment, projects and mechanisms of action are real.
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