The Central Bank forms a committee to open relations with Arab and foreign banks
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    The Central Bank forms a committee to open relations with Arab and foreign banks

    The Central Bank forms a committee to open relations with Arab and foreign banks




    19/07/2017 06:14 | Number of readings: 32


    Trend Press / Baghdad

    The Central Bank of Iraq announced on Wednesday the formation of a committee to open relations with Arab and foreign banks, stressing that Iraq is committed to international standards, specifically in the areas of combating money laundering, risk management, insurance and international accounting.



    The Association said in a statement received "Trend Press" a copy of it, "It organized a dialogue session in the presence of Central Bank representative Mazen Sabah and the representative of the Union of Arab banks Khawla Asadi and member of the parliamentary economy committee Mehdi Hafiz and directors of private banks and government heads of branches of Arab and foreign banks operating in Iraq with the Minister Commissioner for Economic Affairs at the US Embassy Larry Mimot and representative of the US Treasury in Iraq.



    The statement quoted the Director General of Investments in the Bank Mazen Sabah as saying that "Iraq is committed to international standards, specifically in the areas of combating money laundering, risk management, insurance and international accounting and there is a tightening of the central bank on the need to abide by banks operating in Iraq these standards, .



    He added that Sabah, "Iraq's direction during the current stage to open relations with foreign banks and Arab and began to form a committee on this matter."



    On the other hand, the representative of the Union of Arab Banks, the head of Rafidain Bank, Khawla Asadi, said that "the classification of the new Iraq is in the follow-up area after leaving the gray area," noting that "Iraq is very much in the fight against money laundering."



    Asadi stressed that "the Arab financial reports indicate that Iraq has an advanced classification of the Arab, and we are working to develop the relationship with foreign correspondent banks."

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    Last edited by MadDScout; 07-19-2017 at 06:05 PM.



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