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Communicator
05-02-2010, 03:46 AM
Chairman of the Integrity Commission criticized the Central Bank of Iraq

Chairman of the Integrity Commission Judge Rahim Hassan Ugaili, Central Bank of Iraq was not given the necessary attention and full care of the Office of Money Laundering Group since its inception in 2004 until now, adding that it suffers from a lack of support and dysfunctional role in the manner set and desired it.
The Ugaili in a press statement, the bank does not put a control mechanism for real and effective, whereby the follow-up activities of companies, banking and foreign exchange, pointing out that there are thousands of such companies working in the field of foreign currency without leave, viewing it as reservoirs and caches of angles money laundering and the financing of terrorist operations and armed groups and transfer of funds resulting from the corruption abroad.
Ugaili called the Central Bank of the importance of dealing seriously with this issue through the development of methods of monitoring financial and accurate accounting of those bodies and to take strict measures and the adoption of specific controls for the work of companies, banking and the tightening of measures against companies that do not have the license to practice the profession, stressing that there are 400 companies only take a vacation that allows to engage in such activity and the rest work without leave is exacting a heavy toll of the country not only in money but in lives as well, as he put it.

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