The Central Bank announces amendments to the controls on the declaration of funds entering and leaving Iraq

September 24, 2019

For the sake of the Central Bank of Iraq to clarify the instructions and regulations for the declaration of funds entering and leaving across the Iraqi border.

 

The Central Bank of Iraq / Council for Combating Money Laundering and Financing of Terrorism,

 would like to announce the first amendment to the rules for the declaration of funds when they are entered or taken out across the Iraqi borders, published in the Iraqi Fact Sheet No. 4551 dated 19/8/2019, before they enter into force in February 2020, to spare citizens and travelers legal accountability for the irregularities stipulated in those controls during the transfer of funds across the border .

 

Central Bank of Iraq

information Office

2019/9/24

 

»  For the first amendment to the regulations permit funds No. ( 1 ) for the year ( 2019 ) ... Click here

 

Here is the full text of that document....

On the basis of the provisions of paragraph (IV) of article (?) And the provisions of articles (4; *) and (e) of the Law on Combating
Money Laundering and Terrorist Financing No. (4) of 2015 7: We issued the following controls:
No. (1) for the year 2015?
The first amendment of the rules for the declaration of funds when they are entered and taken out across the border
No. (1) for the year 2011
1. Add the following to paragraph (5) of the controls.
(C) The customs authorities shall have the power to inspect persons and inspect their luggage for verification
The information that is declared when verifying or suspecting a false statement or case
Failure to declare or in case of suspicion that the funds being transferred are non-funds
Legitimate.
"- The following shall be added to the controls and paragraph (8) shall have:
7 Amounts allowed to enter or remove them to and from the territory of the Republic of Iraq;
following:-
A Amounts below (10,000) (ten thousand US dollars) or equivalent in other currencies
Without declaring it.

B) Amounts exceeding (10,000) ten thousand US Dollars (to 100,000)
(Twenty thousand US dollars), provided that the statement is a termination with the need to show support
The purpose of entering or taking out such amounts; in the absence of supporting documents
The traveler shall submit an undertaking to bring such documents after (0) days from the date of the permit.

 
C - It is prohibited to enter or remove amounts exceeding (3,000) (twenty thousand US dollars) or
Equivalent in other currencies. The process of entering or removing such amounts shall be through
Financial institutions confined.

D - It is prohibited to enter or remove amounts exceeding (10001000) (million Iraqi dinars) even
The amount will be seized and legal action will be taken.

These controls shall be implemented five months after their publication in the Official Gazette.

Ali Mohsen Ismail
Chairman of the Anti-Money Laundering and Terrorist Financing Council
Governor of the Central Bank of Iraq Agency

browneyes8011 wrote:Here is the full text of that document....

On the basis of the provisions of paragraph (IV) of article (?) And the provisions of articles (4; *) and (e) of the Law on Combating
Money Laundering and Terrorist Financing No. (4) of 2015 7: We issued the following controls:
No. (1) for the year 2015?
The first amendment of the rules for the declaration of funds when they are entered and taken out across the border
No. (1) for the year 2011
1. Add the following to paragraph (5) of the controls.
(C) The customs authorities shall have the power to inspect persons and inspect their luggage for verification
The information that is declared when verifying or suspecting a false statement or case
Failure to declare or in case of suspicion that the funds being transferred are non-funds
Legitimate.
"- The following shall be added to the controls and paragraph (8) shall have:
7 Amounts allowed to enter or remove them to and from the territory of the Republic of Iraq;
following:-
A Amounts below (10,000) (ten thousand US dollars) or equivalent in other currencies
Without declaring it.

B) Amounts exceeding (10,000) ten thousand US Dollars (to 100,000)
(Twenty thousand US dollars), provided that the statement is a termination with the need to show support
The purpose of entering or taking out such amounts; in the absence of supporting documents
The traveler shall submit an undertaking to bring such documents after (0) days from the date of the permit.

 
C - It is prohibited to enter or remove amounts exceeding (3,000) (twenty thousand US dollars) or
Equivalent in other currencies. The process of entering or removing such amounts shall be through
Financial institutions confined.

D - It is prohibited to enter or remove amounts exceeding (10001000) (million Iraqi dinars) even
The amount will be seized and legal action will be taken.

These controls shall be implemented five months after their publication in the Official Gazette.

Ali Mohsen Ismail
Chairman of the Anti-Money Laundering and Terrorist Financing Council
Governor of the Central Bank of Iraq Agency

Thank you very much, some PDF that I send I am not able to translate it, thank you for your help, good day to you, and members of the forum !!


Claud (Moose)

Claud,  I use this..  http://www.i2ocr.com/free-online-arabic-ocr  Do a screenshot first, then upload the picture file.  Copy the extracted text and then good old google translate!  Hope it helps!

browneyes8011 wrote:Claud,  I use this..  http://www.i2ocr.com/free-online-arabic-ocr  Do a screenshot first, then upload the picture file.  Copy the extracted text and then good old google translate!  Hope it helps!

WOW !! Thank you for your help, I did not know this site, said I'm not the best on the internet, as they say, I'm almost a beginner in computer science, in the next news I'll try to send you the translations of the PDFs that I will find, thank you again, good evening to you, as well as the members of the forum, and especially let's be positive now all that leads for a nice change with iraq, especially with their return on the international !! really a matter of time !!


Claud (Moose)

No problem!  Let me know if you need any help with the process.

I wasn't aware of that site either.   Thanks !

No problem!  Let me know if you have any problems with it.

browneyes8011 wrote:No problem!  Let me know if you have any problems with it.

Thank you for your help, and I'm sure I'll need your help with that, as I mentioned, I'm not a professional on the internet, and it's fun to read what is said about the PDF with their new thanks again and have a good day to all members of the forum !!


Claud (Moose)