Conference Forum compliance and anti - money laundering and terrorism financing held in Baghdad

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2016/12/03 | 17:50

Began Saturday morning, business forum compliance and anti-money laundering and terrorism financing, and began playing the Republican forum of peace and read the Fatiha for the souls of the martyrs of Iraq.

A reporter for the economy News that during the forum gave the governor of the Iraqi Central Bank on the Keywords speech, in which he stressed that such a mission and compliance and money laundering require upgrading of institutions involved in this matter, whether the central bank as well as banks and Lima live up to the performance of this task to deal with the mechanics of implementation of the law anti-money laundering and terrorism financing Bangah protect banks from falling into mistakes in implementation.

Keywords and stressed that the central bank shifted from the role of oversight and supervision to the precautionary and preventive control electronic control by making effective oversight.

Keywords and talked about the new role of the Central Bank, where a shift from the traditional Addhur to achieve development goals by stimulating economic sectors to address the impact of the financial crisis.

He noted the completion of corporate governance guide for banks and several important achievement being will separate between owners and members of the Board of Directors and executive management functions, allowing the latter to take the far right decisions for personal tasks.

After that the President of the Association of Iraqi private banks and depositary Handal and his speech in which he expressed his thanks and gratitude for the active participation of the judicial and supervisory authorities in this important occasion.

Handal and pointed to the pursuit of private banks compliance with the Law combating money laundering and terrorism financing and instructions and procedures for the central bank in this regard, including spare banks the risk of falling into the problems of this dangerous scourge, praised Handal Economic flags interacting with the Central Bank and the Association of Banks, referring to a section of the media based on the irresponsible remarks and it is a competent, which damages the reputation of the country and the implications for the international boycott of dealing with Iraqi banks, calling for accuracy in the information.

Handal said, the Iraqi judiciary has played a prominent role in the field of application of anti-money laundering and terrorism financing law that causes us to claim the role of the financial court to take its role in enhancing the operational procedures of the law.

Then began the first working session business administration, executive director of the Association of Private banks Ali Tariq vacationer and included actions and achievements of the Iraqi Central Bank to the requirements of compliance with international standards in the field of combating money laundering and terrorism financing in the presentation by the consultant in quality management and institutional development in the Central Bank of Iraq Sebastian Talat Marcus .

And ensure that the second monitor and under the international support for the fight against money laundering and terrorism financing address in Iraq by the representative of the Treasury Alammerakihzvi US embassy in Iraq, John Sullivan.

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