Central Bank's decision to stop dealing with "Western Younine" cause upheaval in the currency market

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BAGHDAD - Iraq Press - November 6 / November: Stop the Iraqi Central Bank to deal with the company "Western Younine" It is a global company through which they can transfer money to all over the world, and is working to provide commercial services safe and fast way to convert cash and owns about 270 thousand agent worldwide in more than 200 countries and the headquarters of several, and the size of the company's revenues nearly $ 3 billion annually.


In the meantime economist said Falah al-Rubaie, said that "to stop dealing with a global company sober operate in most countries of the world, conduct improper, and hurt both sides Economic and Social Council of the country," noting that "Western Union offers great services for Iraqis to transfer money to and from Iraq, and used by most residents outside the country. "


The economist said that "this measure damage to a large category of Iraqi families who shift money to their relatives, in addition to its negative impact on trade and investment."


He continued by saying, "Such decisions may affect the reputation of the country, and limit the development of the investment sector, noting that Iraq is suffering a lot in this aspect."


It was a statement of the bank, said earlier that the Director of Iraqi Mistira Bank Abdul Basit Turki summoned representatives of the "Western Younine" in Iraq, and discussed with them the future of the company comes this new resolution to stop dealing with the company den statement of reasons.


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[ltr]Newspapers: U.S. intelligence gathering information on international cash transfers[/ltr]
[ltr]Friday, November 15, 2013 - 09:54[/ltr]
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(Reuters)

Newspapers said the Wall Street Journal and The New York Times, The U.S. Central Intelligence Agency (Sea. Any. Any) collect records on international cash transfers under the same law used by the National Security Agency to collect phone records and uses the Internet to Americans.

The newspapers reported, quoting officials that these data containing records of companies, including Western Union is part of a database of personal and financial information permitted by the Citizenship Act.

They said that such transfers do not include transfers made within the United States or from one bank to another, and Elsie rejected. Any. Any comment on the specific programs in response to the newspapers, but said that its operations comply with the law. It was not possible to access the CIA. Any. Any, or Western Union Company for comment.

And became the volume of data collected by the U.S. government position scrutiny earlier in the year, since the squadron contractor formerly with the National Security Agency American Edward Snowden, documents show how the government gathered evidence about phones and uses Americans of the Internet more than was previously known.

And defended the administration of President Barack Obama and a large number of members of Congress about the programs and the National Security Agency, as necessary to protect U.S. national security and foil conspiracies militants. They also said that these programs are subject to intense monitoring by the Congress and the courts.




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