Bondlady’s Corner

Iraqi News Highlights Thursday Afternoon 5-4-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Imposes Fines Estimated At 35 Billion Dinars On A Number Of Banks

Economy   Thursday, May 4, 2023 12:05 PM   Baghdad / National News Center  Today, Thursday, the Central Bank imposed financial fines on banks and institutions after they manipulated the exchange rate of the dollar against the dinar.

According to the schedule of penalties issued by the bank, fines of more than 34 billion dinars were imposed on banks and non-bank financial institutions for the first quarter of 2023, in addition to directing warnings and warnings after their manipulation of dollar exchange rates.

The Central Bank of Iraq announced, on Monday, January 19, a package of decisions that would restore the foreign currency market to its normal position after the rise in it.

Prime Minister: We Have Made Achievements On Various Levels

Thursday 04 May 2023 18:20 | political Number of readings: 44  Baghdad / NINA / – Prime Minister Muhammad Shia’a Al-Sudani affirmed: “The government’s success in implementing its promises to the people to win their trust.”

He said in the Iraq Forum for Stability and Prosperity: “The ministerial curriculum has been translated into a viable government program. We have made achievements at various levels during the first six months of the government’s life, and we are counting on greater successes.”

He added that no success can be achieved without the work of a team, indicating: “The government team is keen to perform its tasks.”

Al-Rafidain Announces The Experimental Launch Of Electronic Taxation In Three Institutions

Money  and business  Economy News / Baghdad  Al-Rafidain Bank announced, on Thursday, the success of the experimental launch of electronic collection in the first education schools of Karkh, Rusafa and taxes.

And the bank’s media stated in a statement that “the experimental launch of the electronic collection system succeeded in the first education departments of Rusafa and Karkh First, and the General Authority for Taxes, and thus the bank has begun implementing the first phase of the electronic collection system and putting it into effect.”

He stressed that the bank is “working to generalize this experience to the rest of the state’s departments, successively, with the aim of leaving manual financial transactions and collecting money electronically.”

He pointed out that “Al-Rafidain Bank, in cooperation with the International Smart Card Company, issued a decision to grant (POS) devices to all state institutions and the private sector for free, provide technical and logistical support, supportive software, and train all technical personnel in exchange for (zero) commissions until the end of the year 2023, and on The responsibility of the Rafidain Bank.

Oil Is Rising After A Decline That Lasted 3 Days

Energy  Economy News – Baghdad  Oil prices rebounded on Thursday, but were unable to recover from a decline of more than 9% in the previous three days, amid signs of weak manufacturing growth in China and after the United States, the world’s largest oil user, raised interest rates.  Brent crude futures rose 41 cents, or 0.57%, to $72.74 a barrel by 04:39 GMT.  US West Texas Intermediate crude rose 24 cents to $68.84 a barrel.  Views 103  05/04/2023 –

Suspicion Scenarios For Anti-Money Laundering And Terrorist Financing Systems

May 03, 2023    For the purpose of strengthening the supervisory system of the money laundering and terrorist financing reporting unit in all licensed companies,  scenarios for anti-money laundering and terrorist financing systems have been prepared, which are compatible with the financial work environment in Iraq, and  licensed exchange companies of the two categories (A, B) can adopt them as a minimum for their electronic systems.

► To view AML/CFT uncles and scenarios related to transfers through agents of international transfer companies (Western Union and MoneyGram) here

Guide For Financial Institutions

12May 04, 2023     ► A guide for financial institutions on the risks of dealing in virtual currencies and virtual asset service providers and their use by money launderers and terrorist financiers..For information, click here


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