The Anti-Money Laundering and Terrorist Financing Office shows Iraq is far from on the grey list.
Hussein Al-Maqram, the Central Bank representative, told Al-Sabah that following the completion of the 14-month international team of experts’ mutual evaluation of Iraq’s technical commitment to the legal framework, rules, instructions, and controls for combating money laundering and terrorist financing, additional was added: Apart from the field tour, the degree of legislative framework application to the systems against money laundering and terrorist funding was shown using statistics and pragmatic examples.
Al-Maqram went on to say that “the initial results confirmed that the Republic of Iraq is far from being included in the grey list (enhanced monitoring), and an action plan and recommendations were formulated by international evaluators to ensure compliance with international standards.” The Middle East and North Africa Financial Action Task Force (Menafatf) last May discussed and approved the evaluation report.
The Central Bank’s money laundering representative claims that “the office seeks to cooperate with the Anti-Money Laundering and Terrorist Financing Council, to apply international standards, and apply the risk-based approach,’s office has automated its procedures for receiving reports through the (goAML) system, and completed the electronic link on this system with several parties.”
Al-Maqram also said that “the office supervises and follows up with all concerned parties to implement the strategic objectives of combating money laundering and terrorist financing for the years 2023-2027, while building updated, comprehensive, and confidential databases to meet international requirements, in addition to training employees of the public and private sectors to spread awareness of combating money laundering and terrorism financing.”
Al-Muqrim underlined the “accreditation of a judge from the Judicial Council, employees from the office and the Central Bank, as international resident experts with the Middle East and North Africa Financial Action Task Force (MENAFATF) and (FATF) to benefit from that expertise and reflect it inside Iraq, to prepare for
