Iraq is classified as highly committed to AML/CFT recommendations by MENAFATF
Shafaq News/ On Wednesday, the Middle East and North Africa Financial Action Task Force (MENAFATF) has classified Iraq as a country with a high commitment to the recommendations on combating money laundering and terrorist financing (AML/CFT).
The Iraqi Supreme Judicial Council's Media Center stated that this decision was made during the MENAFATF's General Assembly meeting held in the Kingdom of Bahrain from May 19 to 23, 2024.
The meeting's participants reviewed the assessors' report on Iraq and concluded that the country has taken significant steps to enhance its AML/CFT regime.
"The acceptance of the assessors' report means that Iraq will not be included on the gray list, which is a list of high-risk countries in the field of AML/CFT."
"This is a testament to the Iraqi team's success in convincing the MENAFATF General Assembly of the adequacy of the measures taken in this area."
Notably, Iraq's delegation to the MENAFATF meeting included Deputy Presidents of the Karkh Court of Appeal, Judges Ali Hussein Jafat and Diaa Jaafar, as well as Deputy President of the Rusafa Court of Appeal, Judge Ayad Mohsen. They were joined by representatives of the Anti-Money Laundering Office of the Central Bank of Iraq and representatives of other relevant Iraqi institutions.
