Author(s): Sundus Ali Khalifa Al-Saadi, Hamza Faeq Wheib Al-Zubaidi
The main objective of the research focuses on clarifying the concept of banking secrecy and its importance and the scope of those covered by its preservation, including the compliance observer and his commitment to maintaining banking secrecy and not revealing it except to the authorized parties, as he is one of the persons familiar with all the work and activities of the bank. This is because his work is based on a showing whether the bank is committed to the laws, instructions, regulations and decisions of the Central Bank of Iraq. Maintaining the bank's secrets by those authorized to see them, including compliance observers, leads to the bank continuing its work properly and not being subjected to legal accountability and the payment of compensations. The research population was represented in the Iraqi banking system. The Central Bank of Iraq and some of the governmental and private banks were selected as a research sample. In addition to the Central Bank of Iraq, the research sample also included Al-Rafidain Bank, Ashur Bank, and Development Bank. The research covered the period from (1/11/2016 to 30/4/2018). The research relied on two basic hypotheses, the first "there is a significant relationship between the work of compliance observers and the maintenance of banking secrecy" and the second "there is a significant effect of the work of compliance observers in maintaining banking secrecy". The descriptive approach was used in the theoretical aspect and the statistical analytical approach in the practical aspect of the research. The values of Spearman's coefficient and regression coefficients were used in the statistical analyses.