Iraq’s Al-Rafidain bank: New AML system deployed
Shafaq News/ On Saturday, Iraq’sstate-owned Al-Rafidain Bank launched a daily transaction monitoring system toreinforce anti-money laundering (AML) compliance and boost financialtransparency.
According to the bank’s statement,the system, developed with international partners, will be deployed initiallyat six key branches: Al-Waziriyah, Al-Muheet, Al-Rafii, Dora Oil Complex,Zurbatiyah, and Safwan, with additional locations to follow.
“This reflects our commitment toglobal AML and counter-terrorism financing standards,” the bank stated, notingthe move aims to strengthen trust in Iraq’s banking sector.
The platform enables real-timesurveillance of financial activity, centralized auditing via the AML ReportingDepartment, and improved detection of suspicious transactions.
