By John Lee.
Governor of the Central Bank of Iraq (CBI), Mr. Ali Mohsen Al-Allaq, participated in the opening of the second edition of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) Conference, held in Baghdad.
Organised by the Central Bank of Iraq, the Union of Arab Banks, and the Iraqi Private Banks League (IBPL), the conference focused on “Challenges Facing Arab Banks in Complying with International Laws and Regulations and Ways to Meet Correspondent Bank Requirements.”
In his remarks, Governor Al-Allaq underscored that money laundering and terrorism financing are not merely financial crimes, but critical threats to financial stability. He affirmed Iraq’s engagement with international partners in implementing global AML/CFT standards and called for stronger regional and international cooperation to counter such crimes.
He also noted that Iraq has made significant advances in its financial and banking sectors, with the CBI working to integrate artificial intelligence and network analysis tools into regulated financial operations.
(Source: Central Bank of Iraq)
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