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An official reveals the advantages of removing Iraq from the list of high-risk countries with money laundering


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calendar.png 2021/04/18
 
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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."

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  •  Time: 04/18/2021 11:16:27
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Iraq is outside the UK's ranking of high risk countries
  
{Baghdad: Al Furat News} Today, Sunday, the Central Bank of Iraq announced that Iraq will exit from the British classification of high risk countries.

 

The Central Bank stated in a statement that the Euphrates News received a copy of it, “In the framework of the efforts of the Central Bank of Iraq and through the Office of Combating Money Laundering and Financing of Terrorism in developing the business environment within the international compliance standards for combating money laundering and terrorist financing, the British Treasury in the Kingdom's government department The United Nations did not include the name of the Republic of Iraq among the lists of 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."  

The statement added: "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."

Hussein Hatem

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Central Bank: Iraq is outside the British ranking of high risk countries

Central Bank: Iraq is outside the British ranking of high risk countries
Central Bank of Iraq
 

Mubasher: The Central Bank announced today, Sunday, that the British Treasury in the Department of the United Kingdom Government will not include the name of the Republic of Iraq among the lists of high-risk countries according to Resolution No. 392 of 2021.

In a statement, the Central Bank said that this decision came within the framework of the efforts of the Central Bank of Iraq and through the Office of Combating Money Laundering and Combating Financing of Terrorism in developing the business environment within the international compliance standards for combating money laundering and terrorist financing.

The Central Bank 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 its exit from the European Union countries, and it promised Iraq is committed to keeping pace with and implementing international recommendations.

The bank stressed that not including Iraq in the list of high-risk countries reflects positively on facilitating business and entering companies between the two countries, as well as supporting financial operations between the Iraqi banking sector and the United Kingdom.

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Iraq leaves the British high risk country ranking Central Bank of Iraq

 

https://economy-news.net/content.php?id=24851

 

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Economy News - Baghdad The Central Bank of Iraq announced, on Sunday, that Iraq has left the British classification of high risk countries. In a statement received by Al-Eqtisad News, the Central Bank 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 terrorist financing, the British Treasury in the Department of the United Kingdom Government did not include The name of the Republic of Iraq is among the lists of high-risk countries according to Resolution No. 392 of 2021. The statement added: "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 its exit from the European Union countries, and it promised Iraq is committed to keeping pace with and implementing international recommendations." Regarding the positive returns of this decision, he stressed that: "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."

 

Number of observations 161 Date of addendum 04/18/2021 

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Legal expert explains the importance of Iraq leaving the British classification of high risk countries
  
{Economist: Al Furat News} The legal expert, Tariq Harb, explained the importance of Iraq leaving the British classification of high risk countries.
 

Harb said {to Euphrates News} that "many foreign companies were reluctant to enter into projects inside Iraq; but after the recent British decision, the doors of work were opened in front of them."
He added, "We find foreign companies operating in Iraq from the era of the former regime to the present day, and they are Iraqi companies with foreign names or companies that are not prestigious in the international commercial field." 
Harb pointed out, "The exit of Iraq from the list of dangerous countries has a political effect, as it moved from a state of worldly politics to the supreme, not to mention that such a qualitative shift gave the political leaders present today, at the forefront of which are the government and parliament, an attribute that the previous ones did not obtain."
The legal expert concluded, "Now it has become clear to those who rule Iraq, its people, and its political leaders that the outlook of foreign countries will not be realized unless there is political development in the country."
The British Treasury in the Department of the United Kingdom Government did not include the name of the Republic of Iraq among the lists of high risk countries according to Resolution No. 392 of 2021. 
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 its exit from the European Union, and I 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.
Wafa Al-Fatlawi

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Iraq leaves the British high risk country ranking

 
 Baghdad: Morning 
 
Confirmed a member of the Iraqi Economists Association 
Dr.. Ikram Abdul Aziz, the positive impact on Iraq's exit from the British classification of high-risk countries, and its role in helping to develop the reality of investment in the country, pointing out that the decision represents an important step on the road to encouraging international investments to enter
 Iraq. 
The Central Bank of Iraq announced, on Sunday, that Iraq has left the British classification of high-risk countries. In a statement received by Al-Sabah, the Central Bank stated that “In the framework of the efforts of the Central Bank of Iraq and through the Office of Combating Money Laundering and Financing of Terrorism in developing the business environment within the international compliance standards for combating money laundering and terrorist financing, the British Treasury in the Department of the United Kingdom Government did not include the name The Republic of Iraq is among the lists of high-risk countries according to Resolution No. 392 of 2021 ». 
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15 hours ago, yota691 said:
calendar.png 2021/04/18
 
views.png 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."

How interesting that before the budget was pass a British envoy travelled to Iraq to speak to the PM requesting that Iraq get its budget past ASAP.  Obviously the UK government has some special interest in the affairs of Iraq.  

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Legal expert: Iraq’s exit from the lists of high-risk countries is a big victory
  
(Baghdad: Al Furat News) The legal expert, Tariq Harb, said today, Monday, that Iraq's exit from the lists of high-risk countries is a "major political and economic victory" for the government and the Central Bank.
 

Harb said in a statement that Al-Furat News received a copy of, that "many years have passed on the name of Iraq in the lists of high-risk countries, with the consequences of this staircase of great political and economic implications, perhaps the first and most important of which is the impact on investment and the reluctance of non-Iraqi companies to work. In Iraq, the political and social implications. "

He added, "The Al-Kazemi government and the Central Bank of Iraq have made great efforts, especially in the field of their cooperation, by taking the necessary measures regarding money laundering and terrorist financing. For some time now, the Iraqi newspaper Al-Waqi’a has hardly been issued and it is devoid of publishing international procedures and decisions, especially those issued by the Special Committee. And associated with the UN Security Council in relation to combating money laundering and terrorist financing and other measures related to seizing the money of those accused of money laundering and terrorist financing even if they are not Iraqis.
He continued, "In addition, a higher committee was established in the Central Bank with the mission of combating money laundering and terrorist financing, and these and other measures such as activating the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015, so Resolution 392 of 2021 was issued including raising the name of Iraq from among the countries with high risks," The government thus deserved and the Central Bank deserved praise and praise for their efforts in removing Iraq from the lists of high-risk countries. "
It is noteworthy that the Central Bank of Iraq announced, yesterday, Sunday, the lifting of the name of Iraq from the British classification of high risk countries.

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Doc-P-302985-636925676752689229-696x391.

The information / Baghdad

The head of the Parliamentary Economic and Investment Committee, MP Ahmed Salim Al-Kinani, considered Tuesday that removing Iraq from the list of "high-risk countries" is evidence of taking the right path in drawing the country's economic policy.

Kinani said in a statement received / information /, said that " Iraq through the biggest economic crisis went through the whole world because of the pandemic Corona and stop global markets and trade exchange , which led to a decline in oil prices and other minerals , " pointing out that "evidence that Iraq has now started taking the road Correctly drawing the economic policy of the country and ensuring appropriate legislation.

He added that "European countries and Britain specifically when you see that Iraq has emerged from the risks classified by trade and investment, as it represents the second largest market for exchanging papers, stocks and bonds for major international companies." 25 n

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The head of the Parliamentary Economic and Investment Committee, Ahmed Salim Al-Kinani, considered today, Tuesday, that removing Iraq from the list of "high-risk countries" is evidence of taking the right path.

Al-Kinani said in a press statement, that "Iraq has gone through the largest economic crisis that has passed throughout the world due to the Corona pandemic, and the global markets and trade exchange stopped, which led to a decline in the prices of oil and other minerals."

And on the decision to remove Iraq from the list of "high-risk countries", Al-Kinani noted that this "is evidence that Iraq is now beginning to take the right path in drawing up the country's economic policy and ensuring appropriate legislation."

The Central Bank of Iraq announced the day before yesterday, Sunday, to raise the name of Iraq from the British classification of high risk countries.

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1 hour ago, Fitxvz said:

I have a question..

 

how about sanction from united states? it is Iraq still in classification of high risk countries?

 

 

No if you read what Yota has posted this week I BELIEVE could be wrong Iraq has been taken off the high risk list. Could be wrong. Easy on the negs! 😬

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1 hour ago, Jaygo said:

No if you read what Yota has posted this week I BELIEVE could be wrong Iraq has been taken off the high risk list. Could be wrong. Easy on the negs! 😬

 

I read the UK has taken Iraq off the high risk listing for money laundering:

 

https://www.middleeastmonitor.com/20210419-iraq-no-longer-on-uk-list-of-high-risk-countries-for-money-laundering/

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An official reveals the advantages of removing Iraq from the list of high-risk countries with money laundering

An official reveals the advantages of removing Iraq from the list of high-risk countries with money laundering
Baghdad
 

 

Mubasher: Advisor to the Iraqi Prime Minister for Financial Affairs, Mazhar Muhammad Salih, today, Saturday, identified several advantages for removing Iraq from the British list of high-risk countries for money laundering.

Saleh said in a statement to the Iraqi News Agency (INA): "The monetary authority realizes that Britain and the London financial market in particular is the first global financial center, and that the steps taken by the United Kingdom in the field of strengthening the governance of international financial work for Iraq will provide the financial market with a greater confidence of society." International Financial Commission regarding Iraq and its banking institutions as being of a high degree of reliability.

The advisor to the prime minister added, "This is a result of the high diplomatic efforts made by the Central Bank of Iraq in monitoring the flow of funds within the framework of international financial cooperation, which is reflected in the active membership of Iraq, the Iraqi Anti-Money Laundering Office and the role of the international financial work team for the Middle East and North Africa since 2004." Up to the present time. "

He pointed out that "removing Iraq from the British list, which classifies dangerous countries in the subject of money laundering and terrorist funds, will be a pillar in maximizing the international investment climate and international investors to work in Iraq and invest in it in all fields without legal risks or exposing them to accountability for that, as well as expanding Prospects for safe credit dealing between Iraqi and British banks.

He continued that "the positive British assessment resulting from raising the name of Iraq from the high-risk countries on the British list in the field of combating money laundering, and in this positive form will enhance the degree of credit rating of Iraq and give confidence to the three European bonds for Iraq that are currently traded in global capital markets, whose value is close to less." From 5 billion dollars.

The advisor to the prime minister indicated that this step will enhance the creditworthiness of Iraq when conducting the next credit rating, which means that the Iraqi environment has become positive, attractive and encouraging to work and international economic activity.

The Central Bank of Iraq announced, last Sunday, the issuance of a decision by the British Treasury not to include Iraq in the British classification of high-risk countries, indicating that this will positively affect the facilitation of business and the entry of companies between the two countries.

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2 hours ago, yota691 said:

he Central Bank of Iraq announced, last Sunday, the issuance of a decision by the British Treasury not to include Iraq in the British classification of high-risk countries, indicating that this will positively affect the facilitation of business and the entry of companies between the two countries.

 

thanks yota , thats interesting and some progression maybe,  im wondering now if the british treasury / banks will start dealing in the iqd  and the usa will not be far behind ... just thinking out loud if the current usa administration approves the 52% capital gains tax hike they may be planning a windfall of tax revenue on exchanges :confused2:  , it was never ruled i dont think how iqd exchange would be handled capital gains or ordinary income im past ready to find out though.... 

I know sure sounds like guru speak huh  🤣 cheers thanks for always bringing it :tiphat:

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