Governor of the Central Bank of «Economy News»: Iraq implemented all the recommendations of the International Labor Organization


Governor of the Central Bank Ali Al-Alaq

Economy News Baghdad:

The Governor of the Central Bank, Ali al-Alak, that Iraq has implemented all the recommendations of the International Financial Action Organization “FATF” of 44 recommendations, which moved from the follow-up area to the regular follow-up area, which is subject to other countries every two years, noting that Iraq ranks fourth Arab as the best Foreign currency reserve.

The governor of the Central Bank Ali Al-Alak was named the best central bank governor in the Arab world for 2018 by the Union of Arab Banks at the Arab Banking Summit held in Paris at the end of June. This was the result of his policies which contributed to saving monetary policy and fighting money laundering and terrorism. And inflation.

Al-Aalak said in an interview with “Economy News” that “the recent decision of the International Financial Action Organization to leave Iraq from the follow-up area to the regular follow-up area, which is subject to other countries every two years, has great domestic and international repercussions because it contributes to bridging the relationship between the banking sector And the International Financial Corporation, “noting that” the biggest risk to the banking and financial sector is the subject of money laundering and financing of terrorism and if we do not take international action, this makes global financial institutions cautious and reluctant or reluctant to deal with Iraq, which leads to significant risks to the work of the banking sector

He added that “Iraq today completed all the recommendations of the International Labor Organization, which are 44 recommendations and we were able to face all the challenges in the implementation of these recommendations,” noting that “Iraq is currently in the stage of follow-up or international scrutiny of the work of the Central Bank and banks and government institutions to identify the strengths and weaknesses in Our work “.

Al-Aalak said that he was “briefed on the World Bank’s 2012 report commissioned by the Financial Action Organization and contained 700 points indicating the existence of a flaw in all joints related to the subject of money laundering and the financing of terrorism.” Terrorism and was able to move Iraq from the stage of danger to the stage of safety and exit from the black list and save the banking sector from the interruption of the outside world in financial transactions.

He pointed out that “the most important step we have taken is to legislate the AML / CFT law in a new format that takes into account all the developments in the money laundering and terrorist financing file, in accordance with international standards, which gave force to all Iraqi parties to abide by these rules, and does not oppose the laws legislated earlier “” Under the AML / CFT Act, the National Council for Combating Money Laundering and the Financing of Terrorism is a committee to freeze the assets of terrorist funds. “

He pointed out that “the Central Bank has formed several sections in banks, including compliance and risk management, which gives strength to the work of Iraqi banks in the fight against money laundering and financing of terrorism,” explaining that “the main success indicator of our work is the diagnosis of cases of money laundering goes directly to the judiciary, The work of the system in general . “

“For the first time in the history of Iraq, there are dozens of cases referred to the judiciary on suspicion of money laundering and financing of terrorism, and there are several decisions issued freezing funds of terrorists and there are some issues for the first time to be included in the United Nations. Last year we had a meeting in the Security Council is the first Of its kind to put Iraq’s strategy in the fight against money laundering. “

He pointed out that “the law of the Central Bank does not allow investment reserves existing at the Central Bank only in specific areas, because it stems from the philosophy of not exposing the reserves to any kind of risk on the one hand, on the other hand, the reserve must be always available such as current accounts .

He stressed that “Iraq’s reserves are fully insured in accordance with the standards of the International Monetary Fund, and occupies Iraq ranked fourth in the Arab reserves of foreign currency,” adding that “Iraq’s foreign currency reserves growing day after day.”

He pointed out that “there is no discrimination in Iraq between the reserves of the government and the Central Bank, as the government reserves differ from the reserves of the Central Bank, and the lack of distinction caused confusion in the citizen and the official, which reflected negatively on the financial policies,” noting that “the biggest challenge facing Iraq is stability And his absence greatly affects investors and sustaining the economy, “he said.” When stability is achieved, it will lead to the recovery of the banking sector and the central bank, and will also inspire investors to invest in the country. “


UN launches Mosul reconstruction plan

Cooperation between UNESCO and the …

UN launches Mosul reconstruction plan

The United Nations Human Settlements Program (Habitat) and the United Nations Educational, Scientific and Cultural Organization (UNESCO) hosted the first workshop to develop the initial planning framework for the reconstruction of Mosul at the University of Mosul with leaders and experts from the Government of Iraq, the academic community, international organizations, the private sector and civil society.

Since the liberation of Mosul, reconstruction and reconstruction has begun throughout the city, including cultural heritage buildings and public places, particularly in the Old City, but the requirements for removing large quantities of debris from explosive contaminants have significantly slowed the pace of reconstruction work.

The basic design of the conductor has remained unaltered since 1974. The UN-HABITAT study shows that the lack of an updated master plan has led to the growth of informal settlements without adequate infrastructure or social services, and the lack of access to land and housing has created grievances among the city’s population, Contributing to the increase of violent extremism.

“Re-establishing Mosul to its status is not feasible enough – now we have a unique opportunity to rebuild better and develop an urban vision,” said a statement by the UN Assistance Program for Iraq (UNAMI) Thursday, Arleselt, a copy of Basnews. “It’s about people in the future.”

Adding that “the initial planning framework for Mosul reconstruction is a comprehensive participatory vision and strategy supported by data that will facilitate the city’s transition from emergency response and stabilization to reconstruction by providing agreed guidelines for reconstruction activities.”

The workshop was opened by Nofal Hammadi Sultan, governor of Nineveh, stressing the need for coordination between the various actors working in the reconstruction of Mosul.

Marta Ruids, Deputy Special Representative of the Secretary-General of the United Nations, Resident Coordinator and Humanitarian Coordinator, urged everyone to rebuild Mosul to work together for a common vision and a coordinated approach that should be guided by the initial planning framework for the reconstruction of Mosul.

The workshop will be followed by field studies and information analysis by the Habitat Expert Group, UNESCO and government partners. The results and proposed practical approach to reconstruction will be presented and validated at a second workshop in November 2018.

documents .. Sadr looms to form a government and resort to the opposition if not implemented conditions

Twilight News

50 minutes ago

The leader of the Sadrist movement Moqtada al-Sadr on Thursday to boycott the formation of the next government, and resort to the opposition in the event that the conditions that have been put forward in advance.

Sadr had previously put forty conditions for the formation of the next government.

Sadr gave the blocs and political parties in his statement issued today, 15 days maximum after the announcement of the final results of the legislative elections that took place recently.

See the statement below:

Federal Court clarifies how to ratify the election results

Editorial date: 2018/8/9 13:13

{Baghdad: Euphrates News} The Federal Supreme Court, how to ratify the results of the parliamentary elections after the completion of the process of partial counting and manual counting and ready to announce the results in a final.

After the end of the appeals on the results of elections to the membership of the House of Representatives, we will be in front of the stage of ratification by the Federal Supreme Court.

Where the court will hold its session in the presence of all its members judges, and be dedicated to the consideration of the request to ratify the lists of names of final winners submitted by the Independent Electoral Commission, while the judicial decision number and date of the Commission and the sequence of names with the name of the first and last winner in alphabetical order.

The Judgment strengthens this by granting the Federal Supreme Court to consider the ratification of Article (93 / VII) of the Constitution and Article (4 / VII) of the Independent Electoral Commission Law No. 11 of 2007.

The court also considers the objections to the names of some of the winners, especially the allegations of charges against them and returns to the competent courts in order to know their legal position on those charges are true or not, and where the investigation procedures reached the correct charges.

In addition, the Court declares that it has reached a judicial ruling, which may include more than one, including the names of those whose decision to ratify their victory one after the other – if any – has been postponed, and the reason for the delay and the type of case assigned to them, High in the deal to inform everyone about the reason for postponement of authentication.

The ruling confirms that the delay in the consideration of the ratification shall be until a final judicial decision on the charges against them from the competent courts, if the innocence or release for lack of evidence will be taken by the Federal Supreme Court to ratify a subsequent ruling, and if the conviction will refrain from the ratification of the final alternative The provisions of the law amending the law of the replacement of the members of the House of Representatives No. (6) for the year 2006, and the directions of the Federal Supreme Court that the alternative is the loser who obtained the highest number of votes from the electoral entity and maintain themselves to those who have been excluded, we find that this approach preserves the will of the Iraqi voter.

But if the objections to the candidates and the absence of claims against them, the Federal Supreme Court also clarify that in its ruling on ratification.

The ruling states that the Federal Supreme Court has ratified the final results of the general elections of the Iraqi Council of Representatives for the winners mentioned in the lists sent by the Independent High Electoral Commission, except for those who have been delayed the ratification of the right to be required for cases, or those who have been denied the right to be convicted Under a court order.

With a reference to the existence of a period of time between the holding of elections and the ratification of the results may be a candidate of the elections after the conditions apply to him, but there is a legal impediment arises and prevents the arrival of the House of Representatives like committing a crime.

The ruling of ratification shall be addressed to the President of the Republic as the person calling for the first session of the House of Representatives within (15) days of its issuance under Article (54) of the Constitution.,15700019,15700043,15700124,15700126,15700149,15700168,15700186,15700191,15700201,15700208&usg=ALkJrhjdAA5-dN7GHmWpxCJxRN_6EXBwxQ