Central Bank hints at the existence of money laundering in the Rafidain and north

02/26/2013



BAGHDAD / JD / .. Iraqi Central Bank announced fined Rafidain and north of $ 10 million dinars, hinting at the existence of money laundering in the two banks.

The bank said in a letter addressed to the two banks received / JD / copy of it: the bank decided to impose a fine against your bank and of (10,000,000) dinars, and due to the violation of your bank instructions to verify the identity of the client and not taking the measures caution and due diligence in conducting financial transactions based on for anti-money laundering law No. (93) for the year 2004 and the Banking Law No. (94) for the year 2004.

He explained: that the amount of the fine was based on the provisions of paragraph (9 / b) of the Anti-Money Laundering (93) for the year 2004, calling for payment as soon as possible.
And a few days ago, gave the Central Bank of Iraq broker companies to sell foreign currencies four months to submit their final accounts.

The bank said in a statement received / JD / copy: Based on the decision of Board of Directors of the bank 'numbered 1493, and held on 11.12.2012, it was decided that mediate companies to sell foreign currencies submission of final accounts no later than 30/6 of the year following the year of activity .

He added: To work under this resolution should provide us with the final accounts for the year ended 31/12/2012 in no later than 30/6/2013, and otherwise will bear your company legal consequences. / End / / 22



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