Anti-Money Laundering and its impact in drying the sources of terrorism law 10/12
Results 1 to 1 of 1

Thread: Anti-Money Laundering and its impact in drying the sources of terrorism law 10/12

  1. #1

    Anti-Money Laundering and its impact in drying the sources of terrorism law 10/12

    Anti-Money Laundering and its impact in drying the sources of terrorism law

    Abdulrahman Shaykhli - after the phenomenon of terrorism and spread of the world's growth in general and the region in particular, and the emergence of global challenges imposed on the financial and banking institutions, new challenges must take extreme types caution of laundering money that often Matkon for the purpose of financing terrorist operations, and in this case we must search all sources of funding and work on drying these sources.

    In order to begin their search right has to start to intensify contacts between local banks and banks operating in the region on the one hand and US banks, on the other hand, for the purpose of understanding the causes and the development of constructive cooperation in this area and for being the permanent link Monetary Fund and the World Bank International.

    Given the fact that these modern partial Noama in our modern world to the fact that our country did not enter to world markets recently, but it must be understanding of this matter by the International and American ones in particular parties where required to ease the pressure on the financial and banking institutions in Iraq and the region until the creation of the requirements of these operations not to mention the high cost is Calculated on our banks when applying the international commitment in the field of the rules of the (AML) * and because the rules of engagement in the fight against money laundering progressing manage America, the suffering of these pressures is not with the banks and US banks, but with the United States itself.

    The banking with the present sector before this similar to what can we are preparing for the challenges (silent static) which are not guaranteed silence long because we Aenaih alone and in isolation from the region and the world and we are part of the region must take appropriate action to counter terrorism and combating the financing of its operations, these concerns Atjalna stand idly or we close our financial institutions wary of Falling in suspicious transactions, but requires us it's extreme caution and prudence take in locks all suspicious accounts and take action deterrent against banking institutions that collude to open suspicious accounts or fake is real or linger in the closure after the disclosure of what they are, and they will realize they're not able to continue at work after the spotlight on their activities suspicious.

    The monetary authority in Iraq, represented by the Central Bank of Iraq it committed itself to keep abreast of events and the acceleration of terrorist activities, and to take swift measures the completion of a draft law provides. anti-money laundering operations not to fall into such suspicious transactions be able to overcome the stage and has the ingredients harmony with international requirements after Iqinha that the developments of the financing of terrorism through laundering and money-laundering operations not covered by the ordered materials occupation authority No. 93 for the year 2004, or what has been called the anti-laundering law is operations money.

    Since more than two years has consistently Central Bank to prepare for the committees, workshops and seminars for specialists in this area for the purpose of the Act provides the requirements phase after his conviction that the amendment former law does not believe these requirements and already offer a new draft law on the Council of Ministers, who agreed to submit it to the Iraqi Council of Representatives, which in turn agreed to issuing minutes held on 16 of last September promised to take effect as of the date of publication Gazette official.

    now and after the issuance of the new law is no longer possible to pass money laundering and washed operations without legal prosecution strict institutions and individuals and is falling under penalty of the law anyone who tries it, especially since the fight against terrorism, not only in the battlefield but begin to dry up its funding of the fact that the new law Straighten materials so particularly in the freezing of financial assets and then confiscated in accordance with law and impose substantial fines with severe penalties up to life imprisonment for the financiers of terrorism, with the possibility of extradition of the accused to the international community and by customs and other related laws and resolutions of the Board Security International.

    Last edited by Doodle Brain; 10-12-2015 at 08:37 PM.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts