Adviser: Central Bank committed banks to monitor customer before conversion to curb money laundering

 03/10/2012

Baghdad (news) .. He noted the appearance of the central bank adviser Mohammed Saleh, to establish strict controls on the transfer of funds abroad to curb money laundering process, explaining that the controls will adopt the principle of "know your customer" as new.
Saleh said (of the Agency news) on Wednesday: that Iraq has witnessed a great freedom in the transfer of funds abroad led to the emergence of mafias working for neighboring countries for hard currency, prompting the central bank to issue strict controls challenge of this process is going according to the principle of "know- your customer "which obliges private banks and government knowledge of the customer.

He added: that all banks will audit the treatment of the customer to check on the transfer of funds abroad.

And: that the central bank put an end to the amounts transferred to the outside estimated ten thousand dollars allowed after identifying the customer's identity, stressing that the central bank take responsibility for any breach gets and her children from investigating suspicious transactions and forwarded to the central bank for auditing and legal action about it.

He explained: that the goal of the central bank to control the smuggling of hard currency to finance terrorism by exploiting the freedom of financial transfer to the outside. / End / 21. D. Q /

 

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Expert: promote local industries depends on activating legal tariff and protect the national product

 03/10/2012

Baghdad (news) .. Attributed the economic expert Ahmed al-Husseini, the reasons for the delay of local industry not to activate the economic laws supporting it, noting that the rehabilitation of small and medium industries depends on activating tariff and legal protection of the local product.
Husseini said (of the Agency news) on Wednesday: The reasons for the decline Iraqi industry, especially small and medium due to the absence of legislation supporting the industrial sector, Kqanona tariffs and protecting local products, which led to the dumping shoddy by neighboring countries.

He added: attention must be paid to the domestic industry and provide the necessary support for the purpose of rehabilitation, because the world is on the verge of economic crises large and Iraq must take reserves through the activation of the industrial sector starting from small and medium enterprises and access to industrial plants large to strengthen the national economy. / End / 8. d. Q /

 

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MP Faizullah: central bank policy "wrong" made of hard currency for grabs for money gangs

03/10/2012

 

 Baghdad (news) .. Criticized Vice-Chairman of the Finance Committee MP / coalition of Kurdish blocs / Amd Faizullah, the central bank's policy on selling the dollar through open multiple ports and granting many licenses for banking offices, facilitated the process of currency smuggling and money laundering.
Said Faizullah (of the Agency news) on Wednesday: that monetary policy currently followed by the Central Bank marred a lot of mistakes, especially when allowed to open multiple ports to sell the dollar and other currencies, whether in banks or banking offices in addition to auction Central, which led to the difficulty of controlling on the sale and purchase of the dollar.


He added: that the central bank to change its current policy demands to serve the local currency, because to continue would hurt the national economy by facilitating the smuggling of hard currency and money laundering by the "Gangs of money". / End / 8. D. Q /

 

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