Iraq, Monday, 12 November 2018
The governor of the Central Bank of Iraq Ali al-Alaq, Sunday, that the actions taken by the bank was sufficient to move Iraq to the normal follow-up area.
“The banking procedures that we have taken have gone a long way in strengthening Iraq’s standing in the AML / CFT classification, which today is a key and important issue in cooperation,” Al-Aalak said at a signing ceremony with the International Bank of Iraq. Between financial institutions and between countries’.
The Central Bank of Iraq officially exits from the list of EU sanctions The Central Bank warns of ‘individuals and networks’ practicing fraud and fraud The added that the classification obtained by the International Labor Organization, which transferred Iraq during the last few years from the gray area to the region continued follow-up and then managed From access to the normal follow-up area to which all countries are subject. ‘
“This new indicator will enable all international financial institutions to open their doors and their relationship with our banking institutions in Iraq,” he said.
The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.