Friday, June 7, 2024
The Iraqi National Bank: We Do Not Deal With Companies Suspended By The Central Bank, 7 JUNE
The Iraqi National Bank: We Do Not Deal With Companies Suspended By The Central Bank
June 6, 2024 Last updated: June 6, 2024 Independent/- The National Bank of Iraq confirmed that it does not deal with companies that the Central Bank of Iraq has stopped from entering the window for buying and selling foreign currency, pointing out that
this comes in compliance with international standards for combating money laundering.
The bank said in a statement,
“This confirmation is based on the National Bank of Iraq’s firm commitment to good governance and full transparency in implementing the instructions of the Central Bank of Iraq, and the bank’s keenness to apply the highest international standards to combat money laundering and terrorist financing.”
Commenting on this decision, the bank’s authorized director, Ayman Abu Dhaim, stressed the importance of adhering to the principles of good governance as a basic pillar in all of the bank’s activities, saying:
“We believe that good governance enhances trust with our customers and partners, and contributes to enhancing financial and economic stability.
Transparency in implementing the instructions of the Central Bank of Iraq represents an integral part of our strategy to maintain the integrity of banking operations.” Abu Dhaim explained,
“The National Bank of Iraq adheres to the highest international standards in combating money laundering and terrorist financing, and follows strict procedures in auditing all financial transactions and verifying the sources of funds to ensure that they are not used in illegal activities.
It also works to regularly update its systems to comply with best practices.” International and the instructions of the Central Bank of Iraq.
Abu Dhaim pointed out “the importance of the due diligence procedures followed by the bank to ensure the safety of customer funds and companies’ assets,” and said:
“We are keen to implement due diligence procedures accurately, as we periodically examine transactions and ensure their compliance with national and international standards.”
These measures contribute to enhancing confidence in our financial system and ensuring the safety of our customers’ funds.” Abu Dhaim stressed,
“The National Bank of Iraq places the interest of the national economy and the safety of the banking sector at the top of its priorities, and that
its commitment to the instructions of the Central Bank of Iraq comes within the framework of this keenness to enhance financial stability and combat illegal practices.” https://mustaqila.com/الأهلي-العراقي-لا-نتعامل-مع-الشركات-ال/
LATEST FROM TNT FROM GINGER TELEGRAM ROOM, 7 JUNE
💢 Latest from TNT Tony 6.7.24
💢The Iraqi budget is supposed to be recorded in the Gazette tomorrow, and the rate should appear by Sunday. The banks received instructions yesterday.
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💢 Special THANKS to beautiful Carpathia, Liberty Lounger Extraordinaire, for transcription of TNT latest update. Sharing for informational purposes for those who are interested. 6.3.24
💢 Carpathia: I listened to the TNT Tony call to try to get more context about the budget and timing. This is a short transcript of the call: ➡️📨 PER TONY: "It was supposed to happen Saturday night, but then it was to happen on Sunday due to a hiccup, and it is supposed to happen tonight. So the real deal is that it did not go on Sunday, because the finance committee did not do their part in Iraq, did not do their vote.
There was a small hiccup. But as I have sent out on Twitter, the Vote has gone through the finance committee and vote has gone through the House of Representatives. Those are the things we wanted to see. We are hoping to see a rate, we know there is a new rate, and we know it is going through. All banks are HIGH HIGH alert. They were told yesterday, but it took some time, as some bank contacts called me last evening and some in the morning, that they were all put on high alert starting last night through Thursday morning.
They said by Thursday morning, definitely,, you are going to have people walking in your door, a bunch of brand new customers (that was yesterday). Talking to them today, they do have pending rates and some of them are saying we are waiting right now to be notified of the release of the 800 numbers. Let's hope it happens.
The Federal Reserve said they were just called in within the last hour. Everyone is to report to their station. Right now as we speak. With all this excitement, everything is pending, and I will give praise where praise is due, Ray has been telling you guys about the Venezuelan Bolivar, rate predictions, right now, rate prediction for Bolivar on screen right now is 0.36 and is climbing. Ray predicts between 22 and 55. It is at 0.36 and climbing right now. It is on the bank screen at this time.
Today is a good day. We have nothing to do but wait for the announcement. They are passing out money in Iraq. Activating projects. We are at a good time. We just have to wait. Not sure if it is 72 minutes or 72 hours. The rate has not been announced there yet, but maybe they wait till Wednesday for the Gazette. But everyone I talk to says they are trying to go anytime now. But we are there. The rates are good. Everyone is excited. So I hope you guys are ready."
Evening News with MarkZ. 06/06/2024
Coffee with MarkZ. 06/07/2024
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