Search the Community
Showing results for tags 'high risk countries'.
President of the Republic: Iraq has lost a trillion dollars since 2003 due to corruption Iraqi President Barham Salih introduces the draft law on "recovering the proceeds of corruption" May 23, 2021 12:05 PM Mubasher: The Iraqi President, Barham Salih, confirmed today, Sunday, that the draft law on recovering the proceeds of corruption includes pre-emptive and deterrent measures, indicating that Iraq has lost a thousand billion dollars since 2003; Because of corruption . The President of the Republic, while presenting the draft law on "recovering the proceeds of corruption", said that the draft law on recovering the proceeds of corruption includes pre-emptive and deterrent measures, stressing that the draft law includes subsequent steps to recover the money of corruption, according to a statement issued by the Presidency of the Republic. Saleh added that the law to recover the proceeds of corruption also includes support for financial and supervisory institutions and activating their tools, indicating that corruption has disrupted the people's will to progress and build, and caused the demonstrators to leave the country to demand a homeland free of corruption. And the President of the Republic pointed out that Iraq had lost a thousand billion dollars since 2003 due to corruption, in addition to the 150 billion dollars that had escaped from corruption deals abroad since 2003. Saleh pointed out that it is not possible to deal with corruption locally, pointing out that the draft law on recovering the proceeds of corruption seeks to recover the money of corruption through agreements with states and cooperation with international bodies. The President of the Republic called for the formation of an international coalition to combat corruption, indicating that corruption is the political economy of violence, stressing that all institutions take a serious, decisive and firm stand to confront the scourge of corruption, stressing that corruption is no less dangerous than terrorism.
The Central Bank announces the exit of Iraq from the British classification of high risk countries 2021/04/18 85 Baghdad / Al-Mawred News The Central Bank of Iraq announced today, Sunday, that Iraq has left the British classification of high risk countries. A bank statement stated, “In the framework of the efforts of the Central Bank of Iraq and through the Office of Combating Money Laundering and Terrorism Financing in developing the business environment within the international compliance standards for combating money laundering and financing of terrorism, the British Treasury in the United Kingdom Government Department has not included the name of the Republic of Iraq from among the lists High-risk countries according to Resolution No. 392 of 2021. " He added that "the United Kingdom adopted the recommendations of the Financial Action Task Force ( FATF) in classifying countries with high risks in terms of applying anti-money laundering and terrorist financing standards, after their exit from the European Union countries, and promised Iraq is committed to keeping up with and implementing international recommendations." He continued, "The fact that Iraq is not included in the list of high-risk countries is positively reflected in facilitating business and entering companies between the two countries, as well as supporting financial operations between the Iraqi banking sector and the United Kingdom."