Association of Banks: Money Laundering Act would give private banks a global confidence

Wednesday, July 1, 2015 11:08




BAGHDAD / Baghdadi News / .. confirmed Iraqi private banks association, on Wednesday, that the adoption of Money Laundering Act will give confidence to the global private banks.

The head of the Association of private banks and the depositary of bitter melon in a statement received / Baghdadi News / copy of it, that "the approval of the Council of Ministers the draft Anti-Money Laundering Act and the financing of terrorism of important laws and support for the banking sector," noting that "this law will provide frameworks, concepts and provisions that enable the Central Bank The judiciary and the relevant authorities of the use of appropriate tools to combat money laundering and terrorist financing and the development of a deterrent for such practices. "

He said Handal said, "This law will give the world confidence in foreign dealings with Iraqi banks," pointing out that "all the member banks of the Association is keen to abide by the law if the legislation because of the subject of the importance of a direct impact on the economy and society, especially in the current stage."

He explained that the "Hama law legislation avoids entering Iraq including black list, if it was passed by Parliament in the near future" .


http://www.albaghdadianews.com/economy/item/80471-eabzة-aklzhaej-jalnl-iyonk-akalnak-yonllg-aklzhaej-akgazhة-vjة-iaklnة.html

Association of Banks: Adoption of the Money Laundering Act will give the world confidence and prevents the entry of Iraq in the black list


Author: ASJ, HH
Editor: AR, HH
01/07/2015 10:29



Long-Presse / Baghdad

Confirmed the Iraqi private banks association, on Wednesday, that the adoption of the Council of Ministers of the money laundering law will give confidence to the global private banks, and as pointed out that banks will adhere to the law, pointed out that the approval in the House of Representatives would avoid entering Iraq within the black list.

The head of the Association of private banks and the depositary of bitter melon in a statement received (long-Presse) a copy of it, that "the adoption of the Council of Ministers draft anti-money laundering and terrorism financing law of important laws and in support of the banking sector."

Handal said that "this law will provide frameworks, concepts and provisions that enable the central bank, the judiciary and the relevant authorities of the use of appropriate tools to combat money laundering and terrorist financing and the development of deterrent to such practices," adding that "the law will give the world confidence in foreign dealings with Iraqi banks."

Handal said that "all the member banks of the Association is keen to abide by the law if the legislation because of the subject of the importance of a direct impact on the economy and society, especially in the current stage," stressing that "this legislation avoids Iraq entry on the blacklist if it was passed by Parliament in the near term. "

The Governor of the Central Bank on the Keywords praised, Tuesday, (June 30, 2015), the Council of Ministers decision to vote on the draft law presented by the Central Bank, which has been developed according to the latest international standards and agreements and coordinate directly with the World Bank and the Financial Action Task Force and international organizations also thanked the governor Council State Consultative for his contribution to the active preparation for the duration of the project, called Keywords conservative House of Representatives to give priority to pass the law.

The Council of Ministers announced, on Tuesday, agreeing to draft anti-money laundering law and the financing of terrorism, as also agreed to grant allowances to employees of the federal police when their participation combat missions in the event of availability of appropriations, confirmed to proceed with the completion of the field survey of the coverage of social protection, to secure the base accurate data.

http://www.almadapress.com/ar/news/51055/رابطة-المصارف-إقرار-قانون-غسيل-الأم

Cabinet approves draft anti-money laundering and terrorism financing law
Tuesday June 30, 2015 15:28


Alsumaria News / Baghdad
The Cabinet approved on Tuesday the draft anti-money laundering and the financing of "terrorism" law.

Ebadi said Office in a statement seen by Alsumaria News , "The Council of Ministers held, today, its regular 45-chaired by Prime Minister Haider al-Abadi . "

The bureau added that "The Council approved a draft anti-money laundering law, and the financing of terrorism," noting that "this project is of great importance for his role in drying the sources of terrorism and to respond to international trends in this area."

And money laundering is the recycling of funds resulting from illegal actions in the areas of channels and invest legitimacy to hide the true source of these funds and look as if they had been generated from a legitimate source Examples of such unlawful acts (funds generated by the drug trade - slave - prostitution - weapons).


http://www.alsumaria.tv/news/138744/مجلس-الوزرا-يوافق-على-مشروع-قانون-مكافحة/ar

Keywords calls on Parliament to pass the anti-money laundering law in anticipation of the "black list"


Tuesday June 30, 2015 16:22

Alsumaria News / Baghdad
Praised the Governor of the Central Bank on the Keywords, Tuesday, the decision of the Council of Ministers to vote on the draft anti-money laundering law presented by the Bank, calling on Parliament to give priority to the law passed in anticipation of the development of Iraq as the "black list" in the absence of approval.

Keywords and said in a press statement Sumerian received News a copy of it, "Ode to the Cabinet's decision to vote on the draft anti-money laundering law submitted by the central bank, which was put on according to the latest international standards and agreements and coordinate directly with the World Bank and the Organization of Financial Action Task Force and international organizations, "and expressed thanks for "the State Council for his contribution to actors throughout the project preparation."

He called Keywords House of Representatives to "give priority to pass a law where there notice a few months granted to Iraq if they are not project approval in Iraq will be placed on the blacklist, which has serious consequences for Iraq's international position," stressing that "the new law lays the framework and concepts clear and effective & Conditions It enables the central bank, the judiciary and the relevant authorities to exercise the roles and tools commensurate with the seriousness of the crimes of money laundering and terrorist financing. "

The Council of Ministers approved on Tuesday the draft anti-money laundering and the financing of "terrorism" law.

And money laundering is the recycling of funds resulting from illegal actions in the areas of channels and invest legitimacy to hide the true source of these funds and look as if they had been generated from a legitimate source Examples of such unlawful acts (funds generated by the drug trade - slave - prostitution - weapons).


http://www.alsumaria.tv/news/138753/العلاق-يدعو-البرلمان-لتمرير-قانون-مكافحة/ar

Money Laundering Act avoids serious damage to Iraq
   

7/2/2015 0:00

 BAGHDAD - morning
The head of the Association of Iraqi private banks and depositary Handal money laundering law as the best way to enhance the confidence of international monetary institutions and global banks in the banking sector of the Iraqi Foreign dealings with the Arab and international banks.
Handal said in a statement singled out by the (morning): The importance of this law stems from spammers and supplied provisions that enable the judiciary and the central bank and the relevant authorities of the use of appropriate tools to combat money laundering and terrorist financing.

He said Handal's keenness all member banks in the Iraqi private banks association fully commit to the law, if approved, to the subject of the importance and impact direct on the economy and society, especially in light of the circumstances in the country, referring to the determination of banks in close cooperation with the Central Bank for the success of his efforts in achieving the objectives of this law.

Handal and pointed to the need to speed up the approval to spare Iraq from sanctions resulting from the lack of such a law and the status of the country on the black list that harm the reputation of Iraq and its economy.

The central bank has been praised in the press release issued by the province d. On the Keywords cabinet decision and vote on the draft anti-money laundering made by the central bank after the adoption of international standards and agreements and Ptsnic directly with the World Bank and the Financial Action Task Force and international organizations.

He called the governor's press statement on parliament to speed up passage of the bill to spare Iraq and put it in the black list and which have serious effects on Iraq's international position and on the national economy, pointing to the grace Iraq a few for the enactment of the law requires to give him a preliminary to pass, to save time.


http://www.alsabaah.iq/ArticleShow.aspx?ID=95866

Saleh: Money Laundering Act will expand the international deal for the recovery of Iraq's dues


Author: Publisher on: July 2, 2015

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Economic Adviser to the Prime Minister said the appearance of Mohammed Saleh, said that the Money Laundering Act was sent to the House of Representatives to be voted on, noting that law when the international financial transactions to combat money laundering with affiliated countries under the Financial Action Organization feature International.

Saleh added for (IMN) that "the law was sent to the House of Representatives by timings that have been developed to be voted on because it is a great benefit to Iraq, as well as the existence of a general trend to vote on the law."

He continued that "the law when the international financial transactions and money laundering arising from acts of crime and terrorism and this all be out of Iraq feature, which need to be the largest international deal," pointing out that "Iraq has signed several memoranda international conventions and protocols operating by virtue of similar laws or that fall under the Organization the international Financial Action Task Force and this law will create greater cooperation in the field of return of looted funds Iraq. "

The cabinet approved a draft anti-money laundering law in its regular 45 under the chairmanship of the Prime Minister.

He praised the Governor of the Central Bank on the Keywords cabinet's decision to vote on the law given by the central bank and that has been developed in accordance with the standards of international conventions.


http://center-imn.net/1/?p=18122