Rafidain Bank reaffirms its commitment to international standards on money laundering

2015/12/26 8:10

[Baghdad - where]
Rafidain Bank confirmed its commitment to international standards on the subject of money laundering, and his knowledge of the sources of funds clients before you start to exercise the banking activity with him.

The general director of the bank on behalf of Kamal al-Hassani, on Saturday, in a statement received by the agency all of Iraq [where], a copy of "global institutions and on the track central banks in both countries reported operating banks have instructions in accordance with the know your customer and form particular to identify the sources of money a person Base before he began his practice of banking activity and the nature of his situation and potential and activity being done, when there are revenues be confirmed according to fixed criteria to be adopted everyone.

"He explained that" Iraq from countries that depend on dealing directly with cash in light of the lack of comprehensive technical Per institutions and banks civil and governmental and specialized, "pointing out that" citizens rely on the Rafidain Bank in bid farewell to their money because he did not witness any position that where the bank's breach of its obligations and its agreements to them.

"The legal expert Tareq Harb, said in the 15th of this month, the anti-laundering law The new money, set up a council to combat money laundering and the Commission to freeze the fugitives money, "noting that" the new law not only impose a penalty on a natural person as head of the Board of Directors or the Commissioner of the bank manager or the company, but beyond that which decided to impose a penalty on the financial institutions as well, such as banks and companies including up to 250 million dinars, as prescribed in Article 39 in addition to the new law establishes the criminal and financial liability is not based on science only, but also decided by the possibility of knowing where that responsibility on the possibility of science were not planned in the previous law and former law shall be punished upon science that the funds obtained from a crime.

"The Iraqi Gazette published early this December, the fight against money laundering and the financing of terrorism Law No. 39, passed by Parliament on 16 September Almadi.anthy