Banking and Monetary Policies in a Changing Financial Environment

Shahin, Wassim; El-Achkar, Elias

doi:10.4324/9781315691381

Cited by 11 publications

(13 citation statements)

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“…An estimated amount is displayed in order to provide some information about this major problem. [8] mentioned that an organization in order to find out how much money is laundered by illegal acts like drugs dealing, trafficking and many other criminal activities conducted a research. [9] stated that the organization name was the United Nations Office on Drugs and Crime (UNODC).…”

Section: Money Laundering Per Yearmentioning

confidence: 99%

“…Money smuggled and acquired through crime deprives the country's economy of this money and invests it on its own land and for the benefit of its citizens, with negative consequences. Even if the laundering occurs in an in-kind form of money, this leads to an increase in consumption rates above national income [20]. Consequently, structural economic imbalances occur because of reduced savings and increased consumption.…”

Section: -1-effect Of Money Laundering On National Incomementioning

confidence: 99%

“…Where the main benefit of that process for money laundering operators and smugglers. This effect is classified into two sides as follows: 1 -the effect of smuggling money laundered on the currency and the exchange rate According to [21] the process of replacing the national currency obtained from illegal activities with foreign currency. Leading to a devaluation as a result of the increased supply of the national currency against the required foreign exchange.…”

Section: -2-effect Of Money Laundering On Currency and Exchange Ratementioning

confidence: 99%

“…Iraq is one of those regions which can be called a haven for criminal and illegal activities and the reason behind that is not the population of the country or the lack of regulations, it is because it has been vulnerable for a lot of time because it was being stated that terrorist has made it their base. [24] mentioned that money laundry occurs in any country due to a high level of corruption. The rate of corruption in Iraq is very high which has influenced the illegal activities such as money laundering.…”

Section: -Effect Of the Entry Of Money Laundering On The Currency Anmentioning

confidence: 99%

“…There are at least 2000 institutions in Iraq which are working on the financial matters of the country. [32] stated that most of this institution has only one main operation and that is of transferring money from Iraq to other countries so these institutions play an important role in all the financial issues occurring in the country. These institutions have been forbidden to send money out of Iraq, but they are still doing it.…”

Section: -The Role Of Iraqi Banks In Money Launderingmentioning

confidence: 99%

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Analytical Study of the Phenomenon of Money Laundering and its Impact on the Iraqi Banking Sector

Oleiwi

2019

JUBPAS

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This study discusses the phenomenon of money laundering and its impact on the financial sector in general and the Iraqi banking sector. The research methodology describes money laundering in detail and the three basic stages of money laundering, placement, layering, and integration. How and where money laundering is a key reason to address this problem and what is the role of governments? It also deals with the impact of money laundering on the Iraqi economy, which is the theft of banks, the suspension of industrial projects, terrorism and corruption. The most important recommendations that limit this phenomenon is international cooperation and legal assistance in money laundering investigations. The use of programming and electronic systems to enter the information of owners of real estate and businesses to detect suspicious activities. To reduce this problem requires the establishment of specialized units in the Central Bank and the Ministry of Finance, Justice and the security services to apply all laws against money laundering. As for the Iraqi banking sector, it is necessary to verify the identity of the owners of the funds deposited in banks. Inform the competent authorities by the bank's management of any suspicious activity. In addition to confirming the documents proving the legality of the funds deposited.

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Section: Money Laundering Per Yearmentioning

confidence: 99%

Section: -1-effect Of Money Laundering On National Incomementioning

confidence: 99%

Section: -2-effect Of Money Laundering On Currency and Exchange Ratementioning

confidence: 99%

Section: -Effect Of the Entry Of Money Laundering On The Currency Anmentioning

confidence: 99%

Section: -The Role Of Iraqi Banks In Money Launderingmentioning

confidence: 99%

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Analytical Study of the Phenomenon of Money Laundering and its Impact on the Iraqi Banking Sector

Oleiwi

2019

JUBPAS

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Volatility spillovers during normal and high volatility states and their driving factors: A cross‐country and cross‐asset analysis

et al. 2022

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Understanding the transmission of volatility across markets is essential for managing risk and financial stability, especially under crisis periods during which an extreme event occurring in one market is easily transmitted to another market. To gain such an understanding and enrich the related literature, we examine in this article the system of volatility spillovers across various equity markets and asset classes using a quantile‐based approach, allowing us to capture spillovers under normal and high volatility states. The sample period is 16 March 2011–10 November 2020 and the employed dataset comprises 12 implied volatility indices representing a forward‐looking measure of uncertainty of global equities, strategic commodities and the US Treasury bond market. The results show that the identity of transmitters and receivers of volatility shocks differ between normal and high volatility states. The US stock market is at the centre of volatility spillovers in the normal volatility state. European and Chinese stock markets and strategic commodities (e.g. crude oil and gold) become major volatility transmitters in the high volatility state, after acting as volatility receivers during normal periods. Furthermore, we study the drivers of implied volatility spillovers using regression models and find that US Default spread contributes to the total volatility spillover index in both volatility states, whereas TED spread plays a significant role in the normal volatility state. As for the role of short rate and risk aversion, it is significant in the high volatility state. These findings matter to the decision‐making process of risk managers and policymakers.

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