Iraq no longer on UK list of high-risk countries
The collaboration and efforts among the Iraqi Ministry of Foreign Affairs, the Central Bank of Iraq and the relevant authorities in the United Kingdom has resulted in removing Iraq from the United Kingdom list of high-risk countries under the money laundering and terrorist financing regulations 2021, statutory instrument 2021 No. 392.
The progress achieved, reflects the considerable efforts made by the Iraqi government to meet and uphold the necessary required international standards to combat money laundering and terrorist financing. Iraq reaffirmed its commitment to international laws and standards, and endeavour to eliminate the political and economic consequences resulted from listing Iraq in the British classification of high-risk countries.
The recent decision reflects the continuous coordination and cooperation between Iraq and the United Kingdom and the latter’s interest in supporting Iraq in various fields including the economic and political.
This development will be positively reflected in developing the business environment, facilitating business mobility and supporting financial operations between the Iraqi banking sector and that of the United Kingdom.