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Iraq comes off the gray list for money laundering
economy 2024-08-21 | 12:44
2,010 views
Alsumaria News - Local
The Anti-Money Laundering and Terrorist Financing Office in Iraq announced that the country is far from being included in the gray list for money laundering, after the establishment of updated, comprehensive and confidential databases that meet international requirements.
The representative of the office at the Central Bank, Hussein Al-Muqrim, reported the completion of the mutual international evaluation by the team of international experts that Iraq recently underwent, which lasted for 14 months, with the aim of evaluating technical compliance with the legal framework, regulations, instructions, and controls for combating money laundering and terrorist financing. Muqrin explained, in an interview with the media, that
"the team of international experts worked to evaluate the effectiveness of systems to combat money laundering and terrorist financing, by providing statistics, in addition to practical cases, to prove the extent of application of the legislative framework, in addition to the field visit." He added,
"The evaluation report was discussed and approved by the Middle East and North Africa Financial Action Task Force (MENAFATF) last May," noting that
"the initial results confirmed the Republic of Iraq's move away from inclusion in the gray list, and an action plan and recommendations were formulated by the evaluators." international organizations, to ensure compliance with international standards.
Controversy over gray listing
The Anti-Money Laundering and Terrorist Financing Office in Iraq, which was established as a general department within the departments of the Central Bank of Iraq, is responsible for supervising and following up with all concerned parties, to implement the strategic objectives of combating money laundering and terrorist financing for the years 2023-2027, and has a legal personality and financial and administrative independence.
The evaluation conducted by the Middle East and North Africa Financial Action Task Force (MENAFATF) addressed the technical compliance with the legal elements, regulations and instructions related to combating money laundering and terrorist financing, in addition to the effectiveness of the systems by providing statistics and practical cases, which indicated an improvement in the application of the legislative framework.
The announcement of Iraq's exclusion from the list of advanced countries in money laundering operations sparked controversy among specialists in Iraqi financial and economic affairs, at a time when Iraq's not being included in the gray list is considered a "positive matter."
https://www.alsumaria.tv/news/economy/497705/العراق-يخرج-من-القائمة-الرمادية-لغسل-الأموال
economy 2024-08-21 | 12:44
2,010 views
Alsumaria News - Local
The Anti-Money Laundering and Terrorist Financing Office in Iraq announced that the country is far from being included in the gray list for money laundering, after the establishment of updated, comprehensive and confidential databases that meet international requirements.
The representative of the office at the Central Bank, Hussein Al-Muqrim, reported the completion of the mutual international evaluation by the team of international experts that Iraq recently underwent, which lasted for 14 months, with the aim of evaluating technical compliance with the legal framework, regulations, instructions, and controls for combating money laundering and terrorist financing. Muqrin explained, in an interview with the media, that
"the team of international experts worked to evaluate the effectiveness of systems to combat money laundering and terrorist financing, by providing statistics, in addition to practical cases, to prove the extent of application of the legislative framework, in addition to the field visit." He added,
"The evaluation report was discussed and approved by the Middle East and North Africa Financial Action Task Force (MENAFATF) last May," noting that
"the initial results confirmed the Republic of Iraq's move away from inclusion in the gray list, and an action plan and recommendations were formulated by the evaluators." international organizations, to ensure compliance with international standards.
Controversy over gray listing
The Anti-Money Laundering and Terrorist Financing Office in Iraq, which was established as a general department within the departments of the Central Bank of Iraq, is responsible for supervising and following up with all concerned parties, to implement the strategic objectives of combating money laundering and terrorist financing for the years 2023-2027, and has a legal personality and financial and administrative independence.
The evaluation conducted by the Middle East and North Africa Financial Action Task Force (MENAFATF) addressed the technical compliance with the legal elements, regulations and instructions related to combating money laundering and terrorist financing, in addition to the effectiveness of the systems by providing statistics and practical cases, which indicated an improvement in the application of the legislative framework.
The announcement of Iraq's exclusion from the list of advanced countries in money laundering operations sparked controversy among specialists in Iraqi financial and economic affairs, at a time when Iraq's not being included in the gray list is considered a "positive matter."
https://www.alsumaria.tv/news/economy/497705/العراق-يخرج-من-القائمة-الرمادية-لغسل-الأموال
