Iraq Classified as Country with High Commitment to AML/CTF Regulations, Avoids Gray List

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MENAFATF Classifies Iraq as a Country with High Commitment to AML/CFT Recommendations

The Middle East and North Africa Financial Action Task Force (MENAFATF) has classified Iraq as a country with a high commitment to recommendations on combating money laundering and terrorist financing (AML/CFT). This decision was made during the MENAFATF General Assembly meeting held in Bahrain from May 19 to 23.

Review of Assessors’ Report

During the meeting, 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 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.

Testament to Iraqi Team’s Success

This decision is seen as a testament to the Iraqi team’s success in convincing the MENAFATF General Assembly of the adequacy of the measures taken in this area. The country has demonstrated its commitment to implementing effective regulations and mechanisms to prevent money laundering and terrorist financing.

Composition of Iraqi Delegation

Iraq’s delegation to the MENAFATF meeting included:

• Deputy Presidents of the Karkh Court of Appeal:
  • Judges Ali Hussein Jafat
  • Diaa Jaafar
• Deputy President of the Rusafa Court of Appeal: Judge Ayad Mohsen
• Representatives of the Anti-Money Laundering Office of the Central Bank of Iraq
• Representatives of other relevant Iraqi institutions

This successful outcome is a reflection of the hard work and dedication of the Iraqi team, as well as their commitment to implementing effective measures to combat money laundering and terrorist financing.