Central Bank Governor: Iraq is committed to combating money laundering at the international level.
The Governor of the Central Bank of Iraq, Ali Al-Alaq, affirmed on Wednesday Iraq’s commitment to combating money laundering and terrorist financing in cooperation with international partners.
In a speech delivered at a conference held in Baghdad on combating money laundering and terrorist financing, Al-Alaq said, “We in Iraq are cooperating effectively with our international partners, particularly with the Middle East and North Africa Financial Action Task Force, to implement international treaties on combating money laundering and terrorist financing and to eradicate them completely.”
He added, “Iraq has a distinct set of strengths in the areas of transparency in financial data and accessibility by relevant authorities in monitoring funds transferred outside the country,” noting that “we have international coordination and cooperation in exchanging information through deep communications networks in this area.”
Al-Alaq also noted, “We had a number of weaknesses that needed to be reviewed and addressed, which we addressed effectively and immediately by taking appropriate measures to reduce the risks of money laundering and ensure it is not used to finance terrorism.”
The Central Bank Governor continued, saying, “Iraq is committed, at the highest levels, to ongoing cooperation with the Financial Action Task Force, which is concerned with the issue at the member state level, to combat money laundering and terrorist financing.”
Shafaq.com