Effect of Forced Execution Procedures on the Obligation to Bank Secrecy
Abstract
The bank provides many functions and services including the seek to meet the wishes of their customers in keeping all matters related to their deposits, including the preservation of jewels, ornaments, gold mats and other pricey things, by providing them with a service that includes allocating a certain treasury to the customer in a place prepared by the bank for this purpose, within the framework of bank secrecy. Banking secrecy play an important role in increasing the volume of deposits with banks and thereby increasing investments, which requires the application of legal provisions that may conflict with the bank's instructions to disclose customer information or deposits, affecting bank secrecy. There are two trends related to the bank secrecy in most laws applied in different countries : absolute bank secrecy and relative bank secrecy. There is disagreement over the legal nature of the contract between the client and the bank, but this contract can be adapted as a composite contract of a special nature. The Iraqi legislator and the comparative law have gone on to consider the money in the bank's treasury as money deposited with others, and the Iraqi legislator acknowledged the bank's confidentiality, not absolute.
References
- - Ibrahim Al-Anis, Attia Al-Sawalhi and others, AL-Waseet Dictionary, Part 1, Dar AL-Afwaj, Beirut, 1990.
- - Turki Musleh Musalaha, The Impact of Western Pick-Up Law on Accounting for Banking Confidentiality, a paper submitted to the University of Sharjah Journal of Legal Sciences, Volume 17, Issue 8, 2017.
- - Iraqi Trade Law No. 30 of 1984
- Universal Declaration of Human Rights Article (12) of 1948.
- - Said Abdel-Latif Hassan, Criminal Protection of the Banking Secret, Dar Al-Nahza Al-Arabiya, Egypt, 2004.
- - Abdul Qadir Al-Ateer, The Secret of the Banking Profession in Jordanian Legislation, 2nd Edition, Dar AL-Thaqafa Library for Publishing and Distribution, Amman, 1996.
- - Aziz Al-Aqili, Explanation of Commercial Law, Commercial Papers and Banking Operations, Part 2, 1st Edition, Dar AL-Thaqafa for Publishing and Distribution, Amman, 2006.
- - Ali Al-Baroudi, Commercial Contracts and Banking Operations, Beirut, without Dar for Publishing, 1991.
- - Fathi Wali, Forced Execution, Dar AL-Nahza AL-Arabyia, Beirut, 1987.
- - Muhammad Abdel-Latif Farag, Criminal Protection of Bank Credit, without Dar for Publishing , Cairo, 2006.
- - Muhammad Hussein Abbas, Banking Operations, Dar AL-Nahza AL-Arabyia, Cairo, 1968.
- - Majed Abdel Hamid, The Problem of Money Laundering and Confidentiality of Accounts in Banks from Comparative Law and Egyptian Law, Dar AL-Nahza AL-Arabyia, Cairo, 2002.
- - Muhammad Abd al-Wadud Abd al-Hafeez, Criminal Responsibility for the Spread of the Banking Secret, 1st Edition, Dar Wael for Printing and Publishing, 1999.
- - Youssef Mohamed Reda, Lexicon of Contemporary Arabic, Lebanon Library, Beirut 2006.
- - Ibrahim Hamed Tantawi, Secret Criminal Protection, Banking Information about My Clients in Light of the Law, Dar Al-Nahza Al-Arabiya, Egypt 2005
- - Habib Khalifa, The Banks Responsibility in the Contract Iron Safes, a published paper from the Conference on Banking Operations between Theory and Practice, Yarmouk University, College of Administration and Economics, Jordan, 2002.
- - Consider the Valid Declaration of Human Rights issued 10 August 1948.
- - Iraqi Banking Law No. (94) of 2004
- - Akram Yamulky. Commercial Law, 1st Edition, Shareqa Public Library, 2012.
- - Khaled Abdullah Jarak Al-Hadhi, Arbitration Organization in Financial and Banking Institutions, a Comparative Study, House of Thought and Law for Publishing and Distribution, Mansoura, Egypt.
- - The Law on the State Administration of the Transition, which began on 30 July 2004)
- - Elias Nassif, Banking Contracts, 2nd Edition, Al-Halabi Legal Publications, Beirut, Lebanon, 2012.
- - Zeina Ghanem Al-Saffar, Banking Secrets (a comparative study), PhD thesis submitted to the Faculty of Law at the University of Mosul, 2005.
- - Arab International Bank Law Numbered 77 of 1971
- - Elias Nassif, Al-Kamil in the Trade Law, Part 3, Banking Operations, Mediterranean Publications and Lebanon Sanctions Publications, 1985.
- - Ali Gamal El-Din Awad, Legal Banking Operations, 2nd Edition, Dar Al-Nahda Al-Arabiya, Cairo, without a year of publication.
- - Egyptian Trade Law No. 17 of 1999,
- - Jabbar Saber Taha and others, explaining the amended Iraqi Implementation Law of 1980, without mentioning the publishing house, without the place of publication, without the year of its publication.
- - Muhammad Ahmad Muhammad Mona Mushtaq, Iraqi banks commitment to banking secrecy, a paper submitted to Baghdad University, College of Administration and Economics, Issue 36, 2015.
- - UAE Commercial Transactions Law
- - Jamal al-Din Muhammad Ibn Makram, Ibn Manzur, Lisan al-Arab, Volume IV, Dar Sader, Beirut, Lebanon, 1990.
- - Fadi Fouad Obeidat, Legal Dimensions of Banking Secrecy (a Comparative Study) Amman University, for Postgraduate Studies, 2005.
- Kuwait Trade Law
- - Jalal Wafaa Muhammadin, The Role of Banks in Combating Money Laundering, Dar AL-Jamea AL-Jaded, Egypt, 2001.
- - Faeq Mahmoud Muhammad Al-Shamaa, The Legal Nature of Treasury Leasing and Banking, a paper submitted to Yarmouk University, Jordan, 2002.
- - Jordanian Trade Law
- - Hassan Hassani, Banking Services Contracts, excluding publishing house, Dunum Place of Publication, 1986.
- - Burke Faris Hussein al-Jubouri, Personal Rights and Civil Protection, an MA thesis submitted to the College of Law, University of Mosul, 2004.
- Fifth: Laws
- First: The Holy Quran
- Fourth: Laws:
- References
- Second: Legal Books
- Specialized and general references:
- Third: Research and Studies: