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A Parliamentary Committee Calls For Private Banks Develop Controls To Reduce The Smuggling Of Currency

June 11, 2012

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BAGHDAD / JD / .. parliamentary committee called for financial private banks to deal with the sale of hard currency in accordance with certain controls to curb the smuggling of the dollar abroad.

The Vice-Chairman of the Committee and the representative of the Kurdistan Alliance, Ahmed Hassan, the iceberg’s / JD / “The private banks have to deal with the sale of hard currency according to the guidelines and instructions are included within the banking records and documentation to find out those seeking to obtain currency.

The Deputy Chairman of the Finance Committee and parliamentary deputy the Kurdistan Alliance, the need for these controls are subject to change. The Central Bank of Iraq has revealed that the offices of specialized affiliated to monitor and control the movement of money into Iraq to deal with cases of money laundering occurring.

The Director General of Statistics and research at the Bank, Walid Eid Abdel Nabi In an interview with a former correspondent of the agency / JD /, “The Central Bank of Iraq stressed through the controls and restrictions approved by the law (930) on anti-money laundering and the smuggling of currency in the country.” and added, “there is coordination between Iraqi banks and the offices of anti-money laundering on the one hand Ministry of the Interior, on the other.”

Said Abdul Nabi, the central bank is closely watching the movement of cash and consistently within Iraq, as well as control the volume of exports and imports of foreign currencies in the various border crossings.” The Director of Research at the statistics to the central bank, said that “the movement of money are all easily remember without hindrance.”

(Source)