Sun, 11 Nov 2018 13:02:54
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 enhancing Iraq's standingin the AML / CFT classification which today is a key and important issue in the cooperation between financial institutions, And between states. "
He added that the classification that we 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 we were able to reach the region the normal follow-up 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.
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