CBI and Financial Action Task Force (FATF)

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Within the framework of the efforts of the Central Bank of Iraq (CBI) 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 terrorist financing, “The British Treasury in the United Kingdom Government Department did not include Iraq among the lists of high risk countries according to Resolution No. 392 of 2021." The UK 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 its exit from the European Union countries, and it promised Iraq committed to keeping pace with and implementing international recommendations. 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. (CBI)