Fri. AM TNT News Articles 7-1-22



Disclosure of the date of the presidential election session: consensus is a matter of course 

Today, Friday, the deputy of the Badr parliamentary bloc, Mahdi Taqi, revealed the date of the Iraqi parliament’s session to elect the president .of the republic Taqi told (Baghdad Today), that “the holding of the Iraqi parliament session to elect the president of the republic will be after the start of the new legislative term, that is, after the end of the Eid al-Adha holiday, and this matter has to be agreed upon “.between the blocs and political parties

And he indicated that “the time from now until the session is held is sufficient for a Kurdish-Kurdish agreement to be reached on the candidate for the presidency, and in the event that the agreement does not occur, the session will be held and the Kurds will enter with more than one candidate, and the vote of the deputies remains the “.faction to decide the election of the president of the republic  link

Former Deputy: The Door Is Open To Nominate A New Prime Minister Until The Presidency Of The Republic Is Resolved

Former MP Rasoul Radi confirmed, on Friday, that the door will remain open for all parties to the coordination framework to present their candidates for prime minister, as the door will remain open for candidacy until the file of the Presidency of the Republic is resolved within the Kurdish house.

Radi told Al-Maalouma, “The coordination framework, as the largest bloc, will present its candidate for prime minister to the President of the Republic, who will be elected in Parliament in order to assign him to manage the next stage.” He added that “the person nominated for prime minister is still unknown and no names have been identified, but there are determinants, criteria and conditions for choosing this person who will take over the prime ministership.”

And he indicated that “all parties to the framework have the authority to present whomever they find suitable to administer the country, provided that it has the conditions, as well as the approval of all parties to the coordination framework, in order to be assigned by the President of the Republic to form the government.” He stressed that “the door will remain open for the selection of candidates for prime minister from all sides of the coordination framework until negotiations are resolved within the Kurdish house to choose a specific candidate for the presidency.” 

The World Gold Council reveals the reserves of the Arab countries of the yellow metal

The World Gold Council published its report for the month of June 2022 of the reserves of the central banks in the world of gold, and the data showed that the reserves amounted to 35568.40 tons of the metal.

Gold is a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation risks, and in the past years, the prices of the precious metal have risen in light of the Corona virus crisis and its consequences.

In the Arab world, Saudi Arabia leads the Arab countries in gold reserves, as the Kingdom owns 323.1 tons of the precious metal, according to a report by the World Gold Council.

In second place comes Lebanon, with reserves of 286.8 tons, and then Algeria, with reserves of 173.8 tons.

With regard to the share of gold in the international reserves of Arab countries, the data shows that Lebanon leads the Arab countries in this indicator, as the precious metal constitutes about 50.7% of the total value of its reserves, in the second place comes Egypt, and gold constitutes about 21.8% of its international reserves.  link

The Central Bank takes binding measures to combat money laundering in Iraq

The Central Bank of Iraq revealed, today, Friday, its measures in the field of combating money laundering and terrorist financing, confirming that it had also issued binding decisions in this regard.

The representative of the Anti-Money Laundering and Terrorist Financing Office at the Central Bank, Hussein Al-Mukarram, told the official news agency, Mawazine News, that “Iraq’s procedures regarding combating money laundering and terrorist financing are represented in the issuance of the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and many regulations. The instructions, controls, circulars and guidelines in particular, which were all issued in light of international requirements and standards and in accordance with local requirements.

He added that “the identification of the supervisory and supervisory authorities on the business sector and the specific non-financial professions has been completed and the due diligence controls for combating money laundering and terrorist financing have been prepared for each sector, the last of which is the real estate sector.”

He stressed that “there are decisions that included obligating all financial institutions to form departments to report suspicious financial transactions and give them independence in their tasks, and to prepare a guide for policies and procedures to combat money laundering and terrorist financing in light of which work is carried out and to be available to all workers in financial institutions.”

He added, “The procedures also included obligating financial institutions to acquire electronic systems to combat money laundering and terrorist financing for the purpose of extrapolating the monitoring of suspicious financial operations and reporting them to the Anti-Money Laundering and Terrorist Financing Office,” noting that “Iraq is committed to all international requirements to combat money laundering and terrorist financing issued by the working group.” Finance (FATF), in addition to completing the conditions for joining the Egmont Group.

He pointed out that “many specialized training courses have been held in combating money laundering and terrorist financing, combating financial crimes, penalties and bans, and employees of banking and non-banking financial institutions have been involved in them.”

And he indicated that “the measures taken by the Anti-Money Laundering and Terrorist Financing Office at the Central Bank of Iraq, including:

1. Acquisition of the (go-AML) system, which is concerned with receiving reports and financial data through electronic linkage with all the parties obligated to report.

2. Preparing systems and databases For the office, which includes data and information from other parties that help analysts to complete the financial investigation procedures

3. Holding memoranda of bilateral cooperation with various parties within the anti-money laundering and terrorist financing system to facilitate the exchange of information, and concluding several memoranda of understanding with counterpart units in other countries similar to the work of the office.

4. Continuing to train employees of other sectors in ministries, government departments and the public sector for the purpose of spreading awareness of combating money laundering and terrorist financing based on the comprehensive training plan prepared by the office for this purpose, and the office continues to involve its employees in workshops and training courses offered by various organizations

He explained that “these procedures resulted in an increase in the number of suspicious financial transactions received by the Office from various entities obligated to report, which resulted in an increase in the reports submitted by the Office to the Public Prosecution Presidency to take the necessary action. Regarding it, there were (15-25-34-24-39) reports during the years (2017 and 2021) respectively, and each report included a number of reports on a number of companies and people, and this increase was reflected in the issuance of a large number of convictions by the competent courts. .

He stressed that “the increase in the transmitted reports is a result of the measures taken to encourage financial institutions to report suspicious transactions and exchange information with law enforcement agencies, which contributed to the completion of the analysis of those transactions and the identification of suspicions of money laundering and terrorist financing.”   link

Source: Dinar Recaps


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