Member of the Finance Committee: Central Bank demands to tighten controls on the work of private banks to curb money laundering

Date: 12/20/2012 12:39:22 Thursday



Baghdad (news) .. Student member of the Finance Committee MP / National Alliance / Amin Hadi Abbas, the central bank to tighten its control on the performance of the work of private banks, to curb corruption and money laundering.

Abbas said (of the Agency news) on Thursday: Some private banks lost their audience as a result of non-compliance with regulations and decisions of the Central Bank, stressing that the central responsibility because of giving up control of the performance of the work of private banks.

He added: that the central bank's demands to tighten control over the work of private banks to re-establish control them and their commitment to the laws and re depositor confidence to it, noting that the Warka Bank is one of the big banks and the audience because of his violation of the procedures and decisions the central bank, which led him to bankruptcy.

It is noteworthy that Iraq has seven banks owned by the state and 23 private banks and eight Islamic banks in particular, according to the site's central bank, while dominated by the banking sector banks Rafidain and Rasheed Aovernmaan, and subject currently restructuring in order to pay off the debts accumulated after years of war and sanctions.


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