Saleh: Iraq is seeking full membership in the International Financial Action Organization
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Tuesday, Iraq’s efforts to obtain full membership in the International Financial Action Organization.
Salih said, “The first amendment to the Iraq Money Recovery Fund Law No. 7 of 2019 added an explicit text contained in the provisions of Article 14 of it, indicating that the government is obligated when concluding investment or economic agreements with any country that has funds for Iraq covered by the provisions of this law to conclude agreements.” with those countries to recover the money,” according to the official news agency.
He added, “What the prime minister signed during his recent visit to France regarding money laundering crimes is based on the text of Article 14 of the law,” noting that “Iraq is seeking full membership in the International Financial Action Organization, which is based in Paris and belongs to the Organization for Economic Cooperation and International Development.” Concerned in the field of international cooperation to combat money laundering activities, crime funds and terrorism.
He continued, “Iraq has been an active member since 2004 in the International Financial Action Organization for the Middle East and North Africa region through the active role of the Anti-Money Laundering and Terrorist Funds Office in the Central Bank of Iraq, which operates in accordance with Law No. 39 of 2015 and provides legal cover for international cooperation, in order to preserve On the funds of the Republic of Iraq, in addition to the active role played by the Supreme Council for Combating Money Laundering, which is approved by law in adopting controls and proposing the necessary regulations and legislation to protect public money. link
Citizens’ concerns about the high prices and calls for action
The rise in the exchange rates of the dollar tightens the screws on the citizen and increases the size of his problems, amid calls for the need to move quickly to put an end to the existing crisis
The stories are similar in the Iraqi markets, and everyone complains about the rise of the dollar. ““Abu Arab,” one of them, finds that there is a rise in prices that makes it difficult for him to obtain his daily needs, especially since he is considered one of the people with limited income, who placed the bulk of the consequences of this crisis on their shoulders
Not only shoppers seek this crisis, but even shopkeepers complain about the current situation caused by the rise of the dollar.
This crisis, from the point of view of many, whether they are specialists or others, does not need media statements and imaginary steps as described by the citizen, as much as the responsible authorities should move to diagnose the main cause and treat it. link
Expert: The exchange rate will inevitably decrease after applying the new central bank procedures
Economic expert Alaa Al-Fahd confirmed that the exchange rate will return to its official rate in the market after the Central Bank applies its new measures to control the exchange rate of the dollar against the dinar.
Al-Fahd said in a televised interview, followed by “Al-Iqtisad News”, that what we are going through today is a regulatory process for selling the dollar by the central bank in cooperation with the US Federal Bank and setting new procedures to monitor the movement of money, indicating that the central bank is not alone today responsible for controlling the exchange rate in Markets, but the responsibility rests with all ministries and government institutions, headed by the Ministry of Commerce, by providing food commodities to the citizen and selling them at the official price to prevent speculations of traders in the (black) market.
He added that the Central Bank facilitated the process of small merchants obtaining dollars at the official rate through multiple outlets for the purpose of importing food commodities as well as travel and treatment for citizens.
And between Al-Fahd, the citizen must understand that the Central Bank did not raise the dollar exchange rate, but after applying the new procedures for foreign transfers, some merchants speculated on the exchange rates and raised the price of foodstuffs in the market link
Source: Dinar Recaps
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