Economy News Baghdad:
The governor of the Central Bank, Ali Al-Alaq, called on banks to verify the legitimacy of sources of funds and data provided to customers covered by the entry into the window of sale and purchase of foreign currency.
“Based on the requirements of day-to-day monitoring, all persons in your banks and institutions who are responsible for the implementation of all daily requests received into the currency sale window are responsible for health and safety,” Alaq said in a letter to authorized banks and financial transfer companies. And sources of funds of customers covered by the entry into the window of sale and purchase of foreign currency in respect of the legitimacy of sources of their funds and all data provided by them and in accordance with the law against money laundering and financing of terrorism.
He called on banks to “work under the instructions numbered No. 22516 for the year 2017 and verify the names of customers before participating in the window selling the currency.”
The central bank governor stressed the need to keep the confidentiality of information for each customer and all the priorities related to the treatment. He called on banks and financial companies to “abide by the law of the central bank and the law of banks and the law against money laundering.”