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Bourse completes anti-money laundering and terrorist financing course

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Bourse completes anti-money laundering and terrorist financing course

18/8/2018 12:00 am

With the aim of being able to deal with the best global systems

Baghdad / Hussein Thugb

The creation of human resources capable of managing money smoothly and transparently represents the most important requirements of the process of sustainable development.

The Iraqi Stock Exchange, in cooperation with ABC Consulting, concluded a training course to enable expertise to combat money laundering and terrorism financing.

Executive Director of the Iraqi Stock Exchange Taha Ahmed Abdul Salam said: "The strengthening of human capabilities is the most important requirements of the process of economic development sought by Iraq for the next stage," pointing out that

"the reality of the Iraqi economy requires a large workload commensurate with the enormous resources and jobs that attract Major international companies," noting that

"this requires an effective market for securities and human resources have the ability to manage technology."

Volume of transactions

Abdul Salam added that "the requirements of development represented by the existence of an efficient stock exchange and human competencies with a high degree of expertise represent the main interest of the market management."

The volume of future transactions led us to organize specialized courses in the most important aspects of the management of the financial sector. Organized internationally away from all forms Manipulation".

Awareness Plans

He pointed out that "the participation of specialized institutions of securities in the course organized in two stages in the Iraqi market for securities comes in conjunction with the plans to spread the culture of investment in securities and awareness plans of the rules of due diligence for paper dealers Finance".

The local bourse continues to strive to adopt the best trading systems in the world, the latest electronic query system, which enables the local exchange to provide services to the global, where facilitates direct communication with the investor.

Enable resources

"The empowerment of human resources comes with positive results that will lead to improved performance within the financial institutions, which led the company and the stock exchange to cooperate in organizing this course, which targeted about 70 employees from the Iraqi Stock Exchange and brokerage companies, And trading companies to raise their job capacity and enable them to work on the systems developed by the world during the past period, which are in the development continuous".

He pointed out that "the importance of our institutions have plans to keep pace with the new systems of the global financial market, and that we have an effective stock market commensurate with Iraq's economic expectations and expectations that confirm the possession of the elements that make him a eighth tiger at the level of Global economies".

best practices

Hamid said that "the main goals are

B) Developing the knowledge of the participants in the fight against money laundering and the financing of terrorism according to the latest amendments, informing the participants of the best practices in combating them, presenting a number of practical cases that occurred in the Arab and international countries, and informing the participants about the red indicators of money laundering and terrorist financing.,

As well as their definition of methodology based on risk assessment, "stressing that" participants were trained in the preparation of the program based methodology To the risk assessment "He pointed out that

"the axes of the training program included the law on combating money laundering and financing terrorism No. 39 of 2015, the due diligence manual issued by the Securities Commission, and the guide to reporting money laundering."

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