The central bank governor Ali Allaq confirmed on Saturday that the Iraqi banking sector has made significant progress in its activities during the current period, while declared the President of the Association of private banks Wadih Handal, that private banks working hard to implement anti – money laundering law to protect the country from the risks.
According Allaq in the workshop of anti – money laundering held Babylon Hotel in central Baghdad and attended by Economy News, the great mobility is happening today in the banking sector to develop its employees on important banking issues such as anti – money laundering and risk management, adding that the exercises that are happening now in a very large evolved and its goal expand the circle of culture and knowledge of the banking employee.
He explained that the Iraqi banking sector in significant progress in its activities and has become focused on it locally and internationally, pointing out that the central bank is working to build a sound information base through the use of information technology.
On the other hand, head of the Association of private banks, Wadih Handal, in his speech to the Conference, said that the Association of private banks is working hard to implement anti – money laundering to protect the country from the dangers faced by the law, adding that the Association of private banks has trained about 600 bank employees in the first quarter of this year on various banking issues.
Among the private banks association it is currently working on the development of the relationship with foreign banks in addition to the use of the world ‘s best technology and the application of international standards.
He stressed the need financial statements issued by financial institutions with the application of international standards and under the supervision of the Central Bank.
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