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  • BatmaninIraq's Avatar
    Today, 07:44 PM
    A fine of 50 million and imprisonment for a person who hires or starts to prepare for false money Sunday 24 March put the Iraqi Central Bank law , judgments of the person who coined or prescribed to prepare counterfeit money Mint a fine of 50 million dinars and imprisonment. Article 50 (Preparation) stipulates that anyone who hires or initiates the preparation of false money for committing a felony punishable by law shall be liable to pay a fine not exceeding 50 million dinars or Imprisonment for a term not exceeding 5 years or both. According to the Central Bank, Article 51 (possession) of the law considered that any person who intentionally knowingly cheats (buy, accept or offer to buy, accept or possess, acquire, acquire into Iraq ) counterfeit money committing a felony punishable by law to pay a fine not exceeding 50 million dinars or imprisonment for a period not exceeding 5 years or both. Article 52 (Promotion of counterfeit money) of the Act, paragraph (1), is that any person intentionally knowingly cheating (the promotion of counterfeit money or his willingness to promote counterfeit money or to use it as an original money, export, send or accept counterfeit money outside Iraq) The perpetrator of a felony punishable by law shall be liable to a fine not exceeding 100 million dinars or imprisonment for a period not exceeding 10 years or both. Article 53 (token money and coin-like coins) provides that any person who knowingly knows (manufacturing, producing, selling or possessing) any object intended to be used for fraud acts in lieu of coins or coins designed to Shall be guilty of a felony punishable by a fine of not more than (25) million dinars or imprisonment for a period not exceeding two years or both.
    2 replies | 235 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:19 PM
    By John Lee. The Islamic Financial Services Board (IFSB) is organising a Facilitating the Implementation of the IFSB Standards (FIS) Workshop in Baghdad, Iraq on 1 – 3 April 2019. This Workshop is hosted by the Central Bank of Iraq (CBL). The 3-day Workshop will focus on the following IFSB Standards: IFSB-15: Revised Capital Adequacy Standard for Institutions Offering Islamic Financial Services (IIFS); GN-3:Guidance Note on the Practice of Smoothing the Profit Payout to Investment Account Holders; GN-4:Guidance Note in Connection with the IFSB Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio for IIFS; and GN-6:Guidance Note on Quantitative Measures for Liquidity Risk Management Overall, the Workshop aims to: Enhance the participants’ understanding of the respective Standards and Guiding Principles; Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles. The FIS Workshops are a part of the IFSB’s support to its members based on the Strategic Key Result Area 2 (SKRA 2) on the Facilitating the Implementation of Prudential Standards and Capacity Development under the IFSB’s Strategic Performance Plan (SPP) 2016-2018”, to assist member organisations in adopting and implementing the IFSB Standards. For enquires on IFSB workshops and membership services, please contact the IFSB Secretariat at ifsb_sec@ifsb.org. (Source: IFSB) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Yesterday, 11:19 PM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st March 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD589 (-2.5%) / $634 (-2.6%) (weekly change) (-10.6% and -10.7% YTD change, respectively). The number of week traded shares was 4.1 bn and the weekly trading volume was IQD1.8 bn ($1.5 mn). ISX Company Announcements ISX will suspend trading of Iraq Noor Islamic Bank for Investment (BINI) starting Mar. 25, 2019 due to the AGM* that will be held on Mar. 28 to discuss and approve 2018 annual financial results. Al-Mansour Bank (BMNS) resumed trading on Mar. 20, 2019 after discussing and approving 2018 annual financial results and deciding to distribute 7% cash dividend (IQD0.07 dividend per share, 9.7% dividend yield). Middle East Producing & Marketing – Fish (AMEF) resumed trading on Mar. 20, 2019 after electing new board members. According to ISC announcement published on Mar. 20, 2019, Al-Harir for Money Transfer (MTAH) has been delisted from the Iraq Stock Exchange. ISX suspended trading of Trans Iraq Bank for Investment (BTRI) starting Mar. 17, 2019 due to the AGM* that will be held on Mar. 20, 2019 to discuss and approve 2017 annual financial results. United Bank (BUND) resumed trading on Mar. 17, 2019 by the CBI decision to remove the custody from the bank due to completing the procedure of electing new board members. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Yesterday, 11:19 PM
    From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Women in Iraq push to Criminalise Domestic ViolenceDomestic violence has been on the rise in Iraq, with women’s groups blaming instability and the break down of law and order. However, there has been a growing awareness of the issue at the highest levels of government and the women’s rights groups are hopeful that the legislature will finally pass a law criminalising what they see as a “national crisis”. The penal code currently has a provision allowing husbands to discipline their wives and does not criminalise domestic violence. Al Jazeera‘s Natasha Ghoneim reports from Baghdad: Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Yesterday, 11:19 PM
    By Hamdi Malik for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.* The Iraqi security forces have expanded their operations to track down members of the Islamic State (IS) in the vast Western Desert. The security*forces, however, have yet to reach an integrated strategy to confront IS in these lands, which stretch*along Iraq’s borders with three countries and are located near key Sunni and Shiite cities. The sub-governor of the city of al-Ratba in west*Anbar, Emad al-Dulaimi, confirmed March 13*that an IS member killed a resident who was kidnapped while picking truffles more than two weeks ago in the desert. Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
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