By John Lee. The Central Bank of Iraq (CBI) has issued new regulations for electronic payment service providers. The 48-page document targets money laundering and terrorist financing. Click here to see the full statement from the CBI [Arabic]. (Source: CBI)
By Ahmed Tabaqchali, Chief Strategist of Asia Frontier Capital (AFC) Iraq Fund, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Empire Strikes Back: Trump 2.0 and Iraq's Dollar Accounts at the Federal Reserve […]
By John Lee. The Washington DC-based Institute for Financial Integrity (IFI) has announced the launch of the Financial Integrity and Cross-Border Payments Training Program for the National Bank of Iraq (NBI), developed in partnership with the Central Bank of Iraq (CBI) and K2 Integrity. According to a press release from IFI, this groundbreaking initiative aims […]
By John Lee. Iraq's Central Organisation for Standardisation and Quality Control (COSQC) has opened its fourth unit for testing and hallmarking precious metals and imported gold at Kirkuk International Airport. The ceremony, led by Dr. Fayadh Mohammed Abdul-Dulaimi, COSQC President, was attended by key officials, including airport customs and border management representatives. Dr. Abdul-Dulaimi highlighted […]
By John Lee. The Financial Action Task Force (FATF) has completed an assessment of Iraq's measures to combat money laundering and terrorist financing, and this week published its report. The assessment is a comprehensive review of the effectiveness of Iraq's measures to protect the financial system from abuse and its level of compliance with the […]
By John Lee. The Central Bank of Iraq (CBI) has announced new regulatory controls for combating money laundering and financing terrorism, and for preventing the proliferation of weapons. Click here to download the full document (76 pages, Arabic only) (Source: CBI)
By John Lee. The Central Bank of Iraq (CBI) has announced the successful transition of external transfers from an electronic platform to direct operations by Iraqi banks through their international correspondent banks. According to a CBI statement, this milestone, fully achieved at the end of December, aligns with global best practices, promoting a stable and […]
By John Lee. The Organized Crime and Corruption Reporting Project (OCCRP) has claimed that Iraq's dollar auction system has been exploited by money launderers and militant groups. Click here to read the report. (Source: OCCRP)
By John Lee. The Saudi Arabian Cabinet has approved a Memorandum of Understanding (MoU) with Iraq aimed at tackling money laundering and terrorist financing. In a statement, the state-run Saudi Press Agency (SPA) reported that agreement involved, "exchanging financial investigations related to combating money laundering and terrorism financing between the Saudi General Directorate of Financial […]
By Ahmed Tabaqchali, Chief Strategist of Asia Frontier Capital (AFC) Iraq Fund, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A fistful of Dinars: demystifying Iraq's dollar auction The Central Bank of Iraq's (CBI) […]
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Why Iraq's dinar is trading below official dollar rate amid new restrictions A top US official visited Iraqi officials last week to discuss countering illicit finance and strengthening Iraq's […]
By John Lee. The US has reportedly barred 14 Iraqi banks from conducting dollar transactions, as part of a crackdown on illegal transfers of dollars to Iran and other sanctioned countries. According to the Wall Street Journal, the banks include Al Mustashar Islamic Bank, Erbil Bank, World Islamic Bank, Zain Iraq Islamic Bank and Al […]
