Iraq Is No Longer A High Risk For Money Laundering

The financial advisor to the Prime Minister, Mazhar Muhammad Salih described the European Union’s decision to remove Iraq from its list of countries deemed to be high risk for money laundering and financing terrorism- a milestone that will revitalize banks operating in foreign countries.

This will also attract investments and capital which will boost the economy. He also indicated that Iraq, in the first place, was added to the list of countries at high risk of money laundering because ISIS took control of the region.

In this respect, monetary policy experts asserted that Iraq complied with all the regulations for the sake of being removed from the list, which will have a positive impact on Iraq’s banks’ performance.