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  • Investors Iraq News's Avatar
    Today, 05:20 PM
    GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments across the country. Please click here to download the latest report free of charge. For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at daniel.matthews@garda.com Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 9 view(s)
  • Investors Iraq News's Avatar
    Today, 03:11 PM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st February 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD605 (-3.7%) / $650 (-3.7%) (weekly change) (-8.3% and -8.5% YTD change, respectively). The number of week traded shares was 3.1 bn and the weekly trading volume was IQD1.4 bn ($1.2 mn). ISX Company Announcements According to the ISX announcement, the opening price of the IQD5.0 mn class bonds (CB125) will be IQD5,352,877 on Sunday (Feb. 24, 2019). ISX will suspend trading of International Islamic Bank (BINT) starting Mar. 4, 2019 due to the AGM* that will be held on Mar. 7, 2019 to discuss increasing the capital from IQD100 bn to IQD250 bn through 150% rights issue. Union Bank of Iraq (BUOI) will hold an AGM* on Mar. 6, 2019 to discuss and approve 2016 annual financial results. The bank has been suspended from trading since Aug. 6, 2017 by an ISC decision. ISX will suspend trading of Modern Animal & Agricultural Production (AMAP) starting Feb. 25, 2019 due to the GA that will be held on Feb. 28, 2019 to elect 7 new original and 7 alternative board members. AMAP will resume trading on Mar. 3, 2019. ISX suspended trading of Credit Bank of Iraq (BROI) starting Feb. 20, 2019 due to the AGM* that will be held on Feb. 25, 2019 to discuss and approve 2017 annual financial results. Al-Qurtas Islamic Bank for Investment and Finance (BQUR) having a capital of IQD250bn paid-in capital, started trading in non-regular market on Feb. 19, 2019. Cross Transactions: 11.5 bn shares of International Islamic Bank (BINT) on Feb. 11, 2019. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 12 view(s)
  • James's Avatar
    Today, 02:48 PM
    http://www.iraq-businessnews.com/2018/10/12/iraq-issues-new-banknote-designs/
    2 replies | 125 view(s)
  • Wolverine's Avatar
    Yesterday, 11:21 PM
    593 replies | 33467 view(s)
  • Wolverine's Avatar
    Yesterday, 05:13 PM
    593 replies | 33467 view(s)
  • Wolverine's Avatar
    Yesterday, 03:38 PM
    593 replies | 33467 view(s)
  • Wolverine's Avatar
    Yesterday, 03:18 PM
    https://www.worldtribune.com/shame-victor-davis-hanson-delivers-scathing-indictment-of-failed-coup/ ‘Shame’: Victor Davis Hanson delivers scathing indictment of failed ‘coup’ By World Tribune on February 20, 2019 The first “coup” in U.S. history in which government bureaucrats sought to overturn an election and to remove a sitting U.S. president has failed, a columnist noted. “Not thugs in sunglasses and epaulettes, not oligarchs in private jets, not shaggy would-be Marxists, but sanctimonious arrogant bureaucrats in suits and ties used their government agencies to seek to overturn the 2016 election, abort a presidency, and subvert the U.S. Constitution,” Victor Davis Hanson wrote on Feb. 17 in an op-ed titled ‘Autopsy of a Dead Coup’ for the Center for American Greatness. ‘A host of the Washington hierarchy lied under oath, obstructed justice, illegally leaked to the press, unmasked and leaked names of surveilled Americans, and misled federal courts under the guise of a ‘higher loyalty’ to the cause of destroying Donald J. Trump.’ / Getty Images “And they did all that and more on the premise that they were our moral superiors and had uniquely divine rights to destroy a presidency that they loathed,” Hanson wrote. The effort by the Hillary Clinton campaign “to create, disseminate among court media, and then salt among high Obama administration officials, a fabricated, opposition smear dossier failed,” Hanson noted. “So has the second special prosecutor phase of the coup to abort the Trump presidency failed. There are many elements to what in time likely will become recognized as the greatest scandal in American political history.” Hanson continued: “The deep state is by nature cowardly. It does not move unless it feels it can disguise its subterranean efforts or that, if revealed, those efforts will be seen as popular and necessary – as expressed in tell-all book titles such as fired FBI Directors James Comey’s Higher Loyalty or in disgraced Deputy FBI Director Andrew McCabe’s psychodramatic The Threat. “In candidate and President Trump’s case that prepping of the battlefield translated into a coordinated effort among the media, political progressives and celebrities to so demonize Trump that his imminent removal likely would appear a relief to the people. Anything was justified that led to that end.” Hanson noted that “Journalists themselves consulted with the Clinton campaign to coordinate attacks. From the WikiLeaks trove, journalistic grandees such as John Harwood, Mark Leibovich, Dana Milbank, and Glenn Thrush often communicated (and even post factum were unapologetic about doing so) with John Podesta’s staff to construct various anti-Trump themes and have the Clinton campaign review or even audit them in advance. “Some contract ‘journalists’ apparently were paid directly by Fusion GPS – created by former reporters Glen Simpson of the Wall Street Journal and Susan Schmidt of the Washington Post – to spread lurid stories from the dossier. Others more refined like Christiane Amanpour and James Rutenberg had argued for a new journalistic ethos that partisan coverage was certainly justified in the age of Trump, given his assumed existential threat to The Truth.” Or as Rutenberg put it in 2016: “If you view a Trump presidency as something that’s potentially dangerous, then your reporting is going to reflect that. You would move closer than you’ve ever been to being oppositional. That’s uncomfortable and uncharted territory for every mainstream, non-opinion journalist I’ve ever known, and by normal standards, untenable. But the question that everyone is grappling with is: Do normal standards apply? And if they don’t, what should take their place?” Hanson wrote: “I suppose Rutenberg never considered that half the country might have considered the Hillary Clinton presidency ‘potentially dangerous,’ and yet did not expect the evening news, in 90 percent of its coverage, to reflect such suspicions.” CNN “soon proved that it is no longer a news organization at all – as reporters like Gloria Borger, Chris Cuomo, Eric Lichtblau, Manu Raju, Brian Rokus, Jake Tapper, Jeff Zeleny, and teams such as Jim Sciutto, Carl Bernstein, and Marshall Cohen as well as Thomas Frank, and Lex Harris all trafficked in false rumors and unproven gossip detrimental to Trump, while hosts and guest hosts such as Reza Aslan, the late Anthony Bourdain, and Anderson Cooper stooped to obscenity and grossness to attack Trump,” Hanson wrote. Read entire article: https://www.worldtribune.com/shame-victor-davis-hanson-delivers-scathing-indictment-of-failed-coup/
    593 replies | 33467 view(s)
  • dollarsign's Avatar
    Yesterday, 01:57 PM
    Financial expert Safwan Qusay described the strengthening of trade cooperation between Iraq and Kuwait as a strategic decision that will enable Iraq to transfer the state of economic stability prevailing in the State of Kuwait to the Iraqi environment in various economic sectors, especially the energy and transport sector. https://www.thebaghdadpost.com/ar/Story/153410 ​$
    20 replies | 1730 view(s)
  • Wolverine's Avatar
    Yesterday, 01:42 PM
    593 replies | 33467 view(s)
  • dollarsign's Avatar
    Yesterday, 01:12 PM
    Buying and holding multiple foreign currencies offshore is simple and convenient. Virtually all offshore banks offer account holders the ability to hold multiple currencies in the same bank account. For example, a client may hold USD, CHF and GBP (United States Dollars, Swiss Francs and British Pounds Sterling) simultaneously in an offshore bank account. Once an offshore bank account has been opened and funds have been deposited into it, some or all of the funds may be exchanged for foreign currencies and held in the account. Offshore brokerages also offer the ability to hold multiple currencies in the same account as well as purchase foreign stocks directly through foreign stock exchanges. For example, an offshore brokerage account may hold USD, CHF and GBP simultaneously. The same brokerage account may be used to purchase shares of Swiss companies on the Swiss stock exchange, or Brazilian companies on the Brazilian stock exchange, etc. $
    20 replies | 1730 view(s)
  • dollarsign's Avatar
    Yesterday, 12:57 PM
    Then... Mr. Marshall Billingslea of the United States assumed the position of President of the FATF on 1 July 2018. Mr. Billingslea serves as the US Department of the Treasury’s Assistant Secretary heading the Office of Terrorist Financing and Financial Crimes. In this role he is responsible for policy development and international engagement pertaining to anti-money laundering and countering the financing of terrorism. Previously, Mr. Billingslea served as a Managing Director at Deloitte, responsible for its Federal Business Intelligence Services group From pg. 14 of this thread... 9/22/18 (Here we Go thread) European Commission President Jean-Claude Juncker called on Wednesday for the European Union to promote the euro as a global currency to challenge the U.S. dollar. “We must do more to allow our single currency to play its full role on the international scene,” Juncker told the European Parliament in Strasbourg as he presented his annual program. and...Now BUSINESS NEWS FEBRUARY 22, 2019 / 5:19 AM PARIS (Reuters) - A European Union blacklist of nations it considers as anti-money laundering and terrorism-financing threats risks undermining the work of the Financial Action Task Force, the body’s head said on Friday. The FATF is an inter-governmental organization that underpins the fight against money laundering and terrorism financing by setting global standards and checking if countries respect them. The European Commission earlier this month increased the number of countries on its list to 23 from 16, adding Saudi Arabia, Panama and four U.S. territories in a move that was criticized by some EU countries like Britain the point here (for me), is that this competing EU terrorism finance list just happens to add places in our neighborhood where we have serious offshore banking activity. I'm sure Britain criticized this move because the Cayman Islands (heavy duty offshore banking activity) are a British territory, also in the Caribbean. So for those of you considering such "no questions asked bank havens", the EU wants to block you. Good luck trying to do that. $
    20 replies | 1730 view(s)
  • bultn's Avatar
    Yesterday, 08:32 AM
    Donations from Russia: One presidency... And he likes to suck Putin's c*ck also, as he does with the madman (his great friend) in North Korea...
    593 replies | 33467 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 04:06 AM
    The United Nations Mine Action Service (UNMAS) in Iraq has welcomed an additional contribution of AUD 2 million (approximately USD 1.5 million) from the Government of Australia to further enable stabilization and humanitarian efforts through explosive hazards management in liberated areas of Iraq. This brings the current three-year contribution from Australia to a total of AUD 13 million (approximately USD 9 million). The survey and clearance of explosive hazards are a crucial precursor to the commencement of humanitarian and stabilization initiatives, and the demand for assistance still exceeds the resources available. UNMAS in Iraq is working closely with the United Nations system and the Government of Iraq to enable humanitarian and stabilization efforts. This contribution from the Government of Australia will further support UNMAS explosive hazards management activities to create safe conditions for the sustainable return of displaced people. It will also improve coordination, engagement and capacity enhancement of relevant government authorities, threat impact assessments as well as clearance and risk education initiatives. This will reduce the risk of explosive hazards in direct support of humanitarian and stabilization planning and delivery, while at the same time increase national capacities to manage the overall threat of newly identified explosive hazards in these areas. The contribution comes in concert with a recent field visit organized for representatives of the Government of Australia to Fallujah in Anbar Governorate. During the visit, the delegation received a comprehensive briefing on UNMAS clearance activities inside the city’s most damaged areas, with its scale of destruction and contamination continuing to be prime inhibitors for the safe, dignified and voluntary return of internally displaced persons (IDPs) to their homes. Australia’s Ambassador to Iraq, Dr Joanne Loundes (pictured), said: “Although much progress has already been made, the huge scale of explosive hazards contamination in Iraq means there is still much to be done. We are increasing Australia’s contribution to UNMAS because we are committed to helping Iraq address these challenges and helping displaced families return to their homes.” Mr. Pehr Lodhammar, Senior Programme Manager for UNMAS in Iraq, said: “Through its continuous support and close collaboration with UNMAS, the Government of Australia is helping to reduce the threat posed by explosive hazards, including improvised explosive devices, thereby enhancing community safety and facilitating the return of displaced people to their homes.” The Government of Australia is an essential contributor to UNMAS explosive hazards management activities in Iraq. This latest contribution brings to AUD 18 million (approximately USD 13 million) the total amount of funds donated since 2016. (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 29 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 04:06 AM
    Parallel Wireless has announced that Kalimat Telecom, a subsidiary of Kuwait’s Trade Links, has selected Parallel Wireless to build out their mobile broadband network in Iraq. According to the GSMA Mobile Economy: Middle East and North Africa 2018 report, Iraq has only a 52% wireless Internet penetration rate, presenting a great opportunity for telecom service *providers in that market. *Poor infrastructure and high operating costs are currently stunting development. Kalimat recognized the inflexibility of legacy cellular solutions to bring digital services to the Iraqi population that is hungry for digital services. Parallel Wireless says that its fully-virtualized HetNet and core solutions enable Kalimat to deploy a distributed virtualized mobile broadband network delivering consumer and enterprise wireless services across the region cost-effectively and on an accelerated timeline. (Source: Parallel Wireless) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 23 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 04:06 AM
    GE Power has announced that it has provided an advanced 9E gas turbine to Iraq’s Al Qudus Power Plant. The company will also service up to seven GE 9E gas turbines at the facility throughout 2019, including maintenance, supply of parts and rehabilitation. GE is installing the new gas turbine at the site and it is expected to generate up to an additional 125 megawatts (MW) of electricity. The service agreement will enhance the reliability of operations at the plant, helping to maintain a stable supply of up to 875 megawatts (MW) of power over the course of the coming year. GE employs up to 300 people in Iraq, with offices in Baghdad, Basra and Erbil. (Source: GE) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 25 view(s)
  • Will-it-happen?'s Avatar
    Yesterday, 01:49 AM
    They work in mysterious ways
    2 replies | 125 view(s)
  • crazyfrank's Avatar
    02-21-2019, 11:15 PM
    ok what the heck are these now? and where did they come from all of a sudden? they are NOT on the CBI web site.....
    2 replies | 125 view(s)
  • Wolverine's Avatar
    02-21-2019, 09:36 PM
    593 replies | 33467 view(s)
  • Investors Iraq News's Avatar
    02-21-2019, 05:52 AM
    By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Economic treaty between Iraq, Jordan stirs Iraqis’ discontentIraqi Prime Minister Adel Abdul Mahdi and his Jordanian counterpart, Omar al-Razza, signed 14 economic agreements Feb. 2*between the two countries, during their meetings on the Iraqi-Jordan border, where a joint industrial city will be established. The agreements include the transport, trade, health, agriculture, finance and energy sectors. The recent economic agreements between the Iraqi and Jordanian governments have raised controversy in Iraq, as some Iraqi political and economic institutions believe these understandings favor Jordan and harm Iraq. The Asaib Ahl al-Haq (League of the Righteous), headed by Qais Khazali, said “the Iraqi citizens will pay the tax of these agreements.” Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 43 view(s)
  • Investors Iraq News's Avatar
    02-21-2019, 05:52 AM
    The EU has announced an additional €30 million in humanitarian assistance. Another €20 million in development funding will contribute to the reconstruction of the country’s cultural heritage, as well as the creation of jobs and opportunities for vulnerable youth. The announcement was made by Commissioner for Humanitarian Aid and Crisis Management Christos Stylianides (pictured), on the occasion of his sixth visit to Iraq today. Commissioner Stylianides said: “Each time I visit Iraq, I see the hope of its people despite the challenging circumstances. At this critical moment for the country, our new funding reaffirms the EU’s commitment to stand in solidarity with all Iraqis and will help the most vulnerable.” Commissioner for International Cooperation and Development Neven Mimica added: “The EU is committed to the reconstruction of Iraq. With today’s new support, we will help to restore the rich cultural heritage of Mosul and Basrah, and at the same time create much needed jobs and opportunities.” Whilst in Iraq, Commissioner Stylianides, alongside Belgian Deputy Prime Minister Alexander De Croo, visited Mosul, where schools and hospitals are being supported by EU funding to help the most vulnerable get access to essential services. In Erbil, the Commissioner visited camps hosting thousands displaced by conflict. In Baghdad, the Commissioner held meetings with the Iraqi authorities. Humanitarian assistance: The new EU humanitarian assistance worth €30 million will include protection, emergency healthcare, basic shelter, food, safe water, sanitation and hygiene to those in the greatest need throughout the country. These include Iraqis who remain displaced and Syrian refugees in Iraq. It will provide mental health support, increasing services for survivors of sexual violence, and ensuring physical therapy and rehabilitation to war-wounded. Furthermore, the EU will support the resumption of basic public services including health, education, and water supply in war-affected areas, such as Mosul, western Anbar and Hawija. Development cooperation: The*€20 million development cooperation will provide tailored technical and vocation training opportunities for youth in the construction sector, to help to recover the historic urban landscape of Mosul and Basrah. In addition, it will provide small grants to Small and Medium Enterprises and associations, with a focus on the revival of socio-economic and cultural activities. This funding, to be signed on 21 February, is part of the flagship initiative ‘Revive the Spirit of Mosul’ run by UNESCO, and designed to foster social cohesion and promote peace. With the full support of the Government of Iraq, the initiative will focus the restoration and rehabilitation of cultural heritage, as well as the revival of educational and cultural institutions. This measure is part of the EU’s pledge at the*Iraq Reconstruction Conference held in Kuwait in February 2018. Today’s funding announcement brings total EU humanitarian assistance to Iraq to €420 million and development cooperation to €309 million since the beginning of the crisis in 2015. (Source: EU) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 34 view(s)
  • Investors Iraq News's Avatar
    02-21-2019, 03:52 AM
    Staff at BP and the Rumaila Operating Organization (ROO) have raised $17,200 for the Iraqi Children Foundation (ICF). According to Julian O’Connell, Rumaila Deputy General Manager and BP Iraq General Manager, this is by far the largest amount they have ever raised with their annual charity fun run. ICF Director Cindy Fogelman expressed the charity’s huge gratitude to all who took part. More here. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Investors Iraq News's Avatar
    02-20-2019, 03:56 AM
    The U.S. Embassy in Baghdad is pleased to announce that the application period for the 2019-2020 Fulbright Teaching Excellence and Achievement Program (FTEA) is now open until March 15, 2019. This program will provide Iraqi secondary-school teachers the opportunity to spend six weeks at a host institution in the United States to observe classrooms and share their expertise with teachers and students at the university and at local secondary schools. Teachers are nominated to participate in the Fulbright TEA Program based on their educational experience, academic training, leadership and professional experience. The selection process is merit-based, and applications are open to Iraqi full-time secondary-school teachers with a minimum of five years of teaching experience. Applicants must demonstrate proficiency in spoken and written English and have a focus in one of the following fields of study: English, English as a Foreign Language (EFL), math, science, or social studies, including special education teachers in those subjects at an institution serving primarily a local population. Detailed information about the program, including eligibility requirements, and access to the online application can be found at: https://iq.usembassy.gov/education-culture/exchange-programs/teaching-excellence-achievement-program-tea/. Further questions about the program and how to apply can be addressed to FulbrightIraq@state.gov. Applications must be received by March 15, 2019. (Source: US Embassy Baghdad) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 35 view(s)
  • Investors Iraq News's Avatar
    02-20-2019, 03:56 AM
    The Iraq Education Cluster Strategy is a consultatively developed document that outlines the Cluster’s approach and operational plan for responding to the current emergency in Iraq. This strategy is intended to guide partners in their implementation of an effective, timely, and quality emergency response. It allows for better communication of the needs of crisis-affected children to various stakeholders. The Iraq Education Strategy is meant to serve as a basis for quick decision-making that all partners have contributed to, understand and are committed to; helping ensure predictability and mutual understanding during an emergency response. The strategy combines not only the HRP and the 3RPfor 2019 but takes into consideration the plans of other cluster partners that are not included in these two planning frameworks. Click here to download the report. (Source: ReliefWeb) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 35 view(s)
  • Investors Iraq News's Avatar
    02-20-2019, 03:56 AM
    By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Riyadh woos Iraqis with security talks, economic projectsFalih al-Fayadh, head of the Popular Mobilization Units*and Iraq’s national security adviser, visited Saudi Arabia Jan. 31 in a sign of*the new and improved ties between the two countries. As Fayadh is close to Iran and*widely viewed as a pro-Iran candidate for*interior minister*in the government of Prime Minister Adel Abdul Mahdi,*his visit aimed*to reassure Riyadh that the PMU will target*neither it nor its interests in Iraq. A few days before Fayadh’s visit to Saudi Arabia, Riyadh renewed its support*for Baghdad, especially in terms of security, in a Jan. 24*phone call*between Saudi Crown Prince Mohammed bin Salman and Abdul Mahdi. In light of the tension prevailing over the region, the*phone call*emphasized*Riyadh’s desire to make up for the past and create a positive relationship with Iraq. Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 37 view(s)
  • 40plus's Avatar
    02-20-2019, 03:11 AM
    Both are MK groomed, for a fact.
    593 replies | 33467 view(s)
  • What If....'s Avatar
    02-20-2019, 01:52 AM
    They sold our shares and were supposed to deposit it in our accounts. Proxy shares are gone. Still hoping I can get back in. Given the last 15 years I'm guessing I still have time before anything real happens.
    7 replies | 578 view(s)
  • Wolverine's Avatar
    02-19-2019, 03:14 PM
    593 replies | 33467 view(s)
  • Wolverine's Avatar
    02-19-2019, 01:57 PM
    593 replies | 33467 view(s)
  • dollarsign's Avatar
    02-19-2019, 12:46 PM
    Supervisory Action Manual/Risk management controls in traditional banking (Commercial On the Arabic side of the CBI site, this document is long, has very little English, but if you are tracking the banking side of things on this ride, the few words that are will make you smile. If you're on the currency side, the highly developed Banking system this document outlines will make you smile, something for everyone. Let's call them Keywords. Sounds like modern banking, with some trading guidance being passed down. With any luck, it will be on the English side of the CBI in a day or two. https://cbi.iq/news/view/1013 $
    20 replies | 1730 view(s)
  • BatmaninIraq's Avatar
    02-19-2019, 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
    9 replies | 718 view(s)
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