CBI warns of annexation of the country to the list of countries with lax money laundering
CBI warns of annexation of the country to the list of countries with lax money laundering
07-05-2015 03:30 PM
In a striking position of the scene Economic Iraqi, issued strict warnings of the consequences of the continuation of money laundering and smuggling operations abroad, the financial sector, most notably invite experts in this area to involve combat financial crime with the Commission that the Iraqi parliament decided to set up, in order to gain legal force to provide the perpetrators to justice. He cautioned financial expert Sadeq Mahmoud, in a statement, from the inclusion of Iraq on the list jaded countries with money laundering, saying that Iraq work instructions anti-money laundering system without a formal law regulating the work, would make him susceptible to put on the black list of countries that witness This organization processes of unchecked. He pointed out that the CBI works since 2004, the instructions of the fight against money laundering, but announce from time to time and again that in the process of organizing a special law and pushed him to the House of Representatives, but that did not happen. He spoke Mahmoud for the consequences, explaining that the consequent listing on the black list, is the inability of some companies from entering the implementation of investment projects, because their countries laws do not allow this, as well as doubts Monetary Fund and World Bank in Iraq could finance through loans, government and central bank and careful most of the time, from the presence of whitening organization and substantial funds operations in Iraq. The Iraqi Council of Representatives form a tripartite committee two months ago to discuss the fight against money laundering, and announced the collection of information and evidence many related to this subject, in addition to hard currency smuggling. She noted a member of the parliamentary finance committee pros Hamadoun, that a currency Iraqi recorded a decline against the dollar, which led to the formation of a committee to follow up the money laundering operations and the smuggling of hard currency. The central bank action also will follow up and the value of the money that will be sold, as well as government and private banks, which sells large amounts of dollar work. She stressed that the members of the Committee are determined to work very seriously to follow up on violations and corruption quotient as a result of money laundering and currency smuggling operations. She stressed that the cessation of currency manipulation will contribute in a noticeable form, the decline in the dollar rate against the dinar. and saw economist Ahmed Atwani, that money laundering and smuggling of foreign currency phenomena that emerged strongly after 2003 as a result of the emergence of mafias financial and economic due to the weakness of the rule of law, low regulatory agencies performance. He said that money laundering, international crime directly related to the activities of illegal sector works in secret, which is known as the economy of the shadow. He Atwani to the growth of this phenomenon to exploit the central bank action to provide cheap dollar through currency auction without strict control measures on import operations, creating a great opportunity for financial mafias to take out large amounts of dollar from Iraq. He held supervisory authorities responsible for the growing phenomena, and the development of fast processors to coincide with the Central Bank of Iraq procedures. On a related issue, the Iraqi Central warned banks and financial transfer, and brokerage firms from selling foreign currencies and buying, by including customs duty and income tax in its sales of dollars in non-related transactions import, which led to the lifting of the exchange rate on the citizens and buyers of dollars for non-commercial use, and therefore high price on all sales ». And it announced that it indicates the illegal exploitation. Central said in a warning, that the cash sales of the dollar earmarked for specific goals not the sale falls for the purposes of trade, import-covered remittances and credits. The central Iraqi new mechanism to control money laundering and sell the dollar against the import adopted, shall receive under which the tax in advance and the private customs goods imported per dollar sells for banks in order to import. He predicted that this mechanism contributes to the doubling of the financial resources of the state.
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