Yesterday, 11:29 AM
Scales published new controls for the declaration of money when it is introduced and removed from Iraq
05:58 - 18/02/2019
BAGHDAD (Reuters) -
The General Authority of Customs announced on Monday new regulations and regulations to authorize the transfer of money through the Iraqi border and issued by the Central Bank of Iraq and the Council against Money Laundering and Financing Terrorism.
According to the resolution:
Pursuant to the provisions of paragraph (IV - Article 7) and the provisions of Articles (34) and (35) of the Anti - Money Laundering and Financing of Terrorism Law No. (39) for the year / 2015 we have issued the following controls: -
No. (1) for the year 2017
Controls the declaration of funds when they are introduced and brought out across the Iraqi border
On the basis of the provisions of the paragraph and the above articles, which oblige each person upon entering or leaving Iraq to make a declaration on demand from the representative of the General Authority of Customs on the carrying of money, currency or negotiable financial instruments for her bearer or transferred into or outside Iraq through a person or a postal service or Or by any other means. The permit shall include the value of such currencies or instruments. Based on the approval of the Anti-Money Laundering and Terrorism Financing Council at its meeting held on 7/2017, the following shall be determined:
1. Each passenger upon entry into or exit from Iraqi territory of which permit the following: - (
a) money exceeding (10000) p Rh thousand US dollars or its equivalent in other foreign currencies.
Precious stones and precious metals if their value exceeds (10,000) ten thousand US dollars.
(C) negotiable financial instruments of a holder or transferred within or outside Iraq through a person, postal service, shipping service or any other means exceeding 10,000 US $ 10,000.
2. The passengers shall declare with the employees of the General Authority for Customs at the airport or the border crossing points in the Republic of Iraq according to the form attached to these regulations and that the limits mentioned in item (1) shall apply to the person who is 18 years of age or more, For (18) years, the money in their possession must be added to the limit allowed to the guardian.
3 - Limit the introduction and exit of the Iraqi currency from and to Iraq, not permissible limits of (200,000) two hundred thousand Iraqi dinars. In the case of transfer of an amount higher than the mentioned limit through a person or a postal service or a shipping service or by any other means, the amount exceeding the limit should be booked and filled out and sent to the Anti-Money Laundering and Terrorism Financing Office.
4. Each customs department at the airports and border crossing points shall take the following measures: a)
Put enough guidance boards in Arabic, Kurdish and English in high and clear places to clarify the provisions of these regulations.
(B) To request the passengers to fill out the above-mentioned declaration form if they have cash or negotiable financial instruments for their holder, the amounts of which exceed ten thousand (ten thousand) US dollars or the equivalent in other foreign currencies and if they have more than (200000) ) Two hundred thousand Iraqi dinars and if they are in possession of precious stones and precious metals exceeding the value of (10000) ten thousand US dollars, they must complete the form of authorization referred to above.
C - Provide appropriate numbers of authorization forms at all border crossings to provide passengers arriving and departing for the purpose of declaring the cash and financial instruments and precious stones and precious metals in their possession.
(E) The maintenance of regular records in which all permits issued by the Customs Department and cases in which the passenger has not made the required authorization in accordance with the provisions of the Money Laundering and Terrorism Financing Law are complied with; these are kept and kept for five years or more depending on the nature of the cases.
F - Request additional information from travelers about the source of the money and the purpose of the transfer in the event of a false statement or in the absence of a statement with no convincing reason for not declaring or in case of suspicion.
(G) Providing the AML / CFT Office with authorization forms and any information requested.
5 - In addition to what is stated in item (3) above, the staff of the General Authority for Customs at the border crossings to seize cash and negotiable financial instruments and precious stones and precious metals for any of the following cases:
(A) Not to permit the traveler and to find funds exceeding the limit specified in item (1) above or to give false information about them and the employees of the General Authority of Customs should investigate the reasons for not requesting the form and the reservation is made in the absence of convincing actual reasons and If there are convincing reasons and there is no suspicion, the form will be filled and the amount will be released.
(B) There is sufficient evidence of suspicion that the money described in item (1) above is derived from an original crime, a money laundering offense or a terrorist financing offense.
6. The Anti-Money Laundering and Terrorism Financing Office shall issue a recommendation to lift the seizure of the reservations referred to in item (5) of these regulations in the case of reinforcements confirming the validity of the checks or referring them to the judiciary within seven (7) days from the date of notification of the decision. General of Customs.
7. Cash, negotiable financial instruments, precious stones and precious metals issued and delivered by mail, shipping service or other means shall be declared in accordance with items (1) and (2) mentioned above
