Monday 24-10-2011Attorney Al-alwani: We set up committees to monitor exchange offices work to curb money laundering
Baghdad, The integrity Commission demanded parliamentary ministries concerned with the formation of supervisory commissions following the work of Iraqi banks and exchange offices to reduce the phenomenon of money laundering for the local currency, loaded at the same time traders increase this phenomenon.
Member of the integrity Commission and Parliamentary Deputy/Iraqi/coalition Khaled Al-alwani told reporter (News Agency news) Monday: that integrity Commission in Parliament has sent a letter to the Ministry of finance, stakeholders requested by regulatory commissions take turn to follow the work of exchange offices and banks to reduce the phenomenon of money laundering the current currency.
Al-alwani said: this phenomenon is not borne by banks and exchange offices, but there are Iraqi dealers and others have taken advantage of the situation of others through stable traders banned substances causing economic chaos in the local market.
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And between alalwani: after regime change in Iraq by year (2003), there is complete absence of law and security instability and opening the border with neighbouring States which encouraged drug dealers and materials prohibited exploitation of such circumstances through the laundering of money for these articles.
There are mentions among financial revealed money laundering for the current Iraqi currency and lack of financial oversight by the Federal Government.
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