The central bank reported that the decision of the International Financial Action Organization (FATF) to withdraw Iraq from the list of countries under the monitoring and follow-up of international funds, led to the confidence of States in financial dealings with Iraq, while revealed the transfer of 180 reports to the prosecution during the last period on suspicion of money laundering Or the financing of terrorism.
“The decision of the International Financial Action Organization has helped to acquire foreign financial transactions of Iraq, a great credibility for countries, banks, foreign correspondents and financial institutions,” said the governor of the Central Bank, Ali al-Alak, noting that these authorities are afraid to deal with countries that do not have discipline Or full control over anti-money laundering and terrorist financing.
Al-Alak explained that Iraq is currently attractive to international financial and investment institutions and once the announcement of raising the attention of all international financial institutions, indicating that among the indicators of serious country in this framework,
He pointed out that Iraq’s financial and monetary transactions are moving in the right direction in conjunction with the development of regulatory systems and laws as all banks were required to establish anti-money laundering units and compliance units, while ensuring the independence of the money laundering and terrorist financing. Source