Central Bank announces the immediate project “know your customer” for banks

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Date: 05/11/2016 10:00

| Visits: 148

Information / Baghdad ..

The Central Nabek, Wednesday, from direct project “know your customer” for banks in order to verify the legality of the money or not, between he needs time to implement it .

The governor of the bank on the Keywords in an interview with the official newspaper “Sabah” seen by / information /, that “since I’ve been secretary general of the Council of Ministers asked for activating the role of anti – money laundering in the Central Bank office but did not do , and now has been activated along with an emphasis on the banks commitment anti – money laundering rules and the application of the principle of (know Your Customer) applied by all banks in the world and should know where his client has the money and the need to make sure is realized that the money that was illegal. “

He Keywords that ” the initiation of this project, but needs time to apply it to the side to follow a lot of procedures and rules for banks to work and commitment through precise control and emphasis on this subject dramatically , but now has become a requirement basis in the dollar sale of any bank or company is to make sure the extent of his commitment to the rules of the fight against money laundering. “

Keywords and pointed out that ” the bank in the event of his failure to sell the dollar dollar will reach more than 5000 dinars scarcity of the dollar in the market, and here fear the sale is not a case of selling because he is the right of the merchant and the citizen who wishes to switch on according to the Constitution and the law , that this his property has the right to act by turning it from one currency to another , but there must be control over the money that bought the dollar and turn to outside sources is the escape of money derived from corruption Aogeraim or money laundering or terrorist financing or other and this was the fundamental weaknesses and requirements and the rules of the fight against money laundering point in each the world has escalated over the past years and the risks too great. ” Finished / 25

Central Bank: the export of oil does not exceed the billion and a half billion dollars a month

http://almaalomah.info/2016/05/11/economic/48128

Date: 11/05/2016 09:52

| Visits: 174

Information / Baghdad ..

Governor of the Central Bank on the Keywords, Wednesday, revealed that the dollar derived from the export of oil does not exceed a billion and a half billion dollars a year , compared to previous years , which was exceeding eight billion dollars, and as he emphasized that the financial situation of a controlled despite concerns, he pointed out that the most dangerous thing that the bank faces is export budget deficit.

Keywords and said in an interview with the official newspaper “Sabah” seen by / information /, ” The financial and economic situation in spite of a controlled financial crisis and the fear of some politicians and citizens emanated from lack of awareness of a real understanding of monetary policy and the level is low awareness and this is a problem faced by the Bank Central. “

Keywords and added, that “those who call for the central bank to reduce the value of the dinar Can you told them in the parliament or the government to Tkhvadwa staff salaries even though it was five or ten percent? Ones find difficult to do, and how you want it from the central bank to cut the real value of salaries by up to 30 percent in order to be rewarding in the sense that inflation will reach 50 percent , the sense of targeting low – income class. “

Keywords and pointed out that ” the export of oil now does not come with more than a billion and a quarter of a billion to a billion and a half billion a month , and even if it has been reduced dinar was awarded the Ministry of Finance the largest amount versus the dollar amount will not create a big difference because the amount a little while , which hit the purchasing power of citizens Valmrdod happen would be simple the Ministry of Finance. “

Keywords explained that “in the past years was derived from the export of oil in Iraq , the dollar up to 8 or $ 9 billion a month, and has now fallen dramatically , putting a big challenge in front of the central bank with the continuation of government spending high , ” pointing out that ” the most dangerous thing that the bank faces the central issue when the budget deficit and the means do not cover them by the Ministry of Finance Vtguetrd dinars through treasury transfers means that the dinar becomes a demand for the dollar has no dollars interview. ” Finished / 25