Shafaq News/ On Tuesday, the Central Bank of Iraq (CBI) announced that Egmont Group of Financial Intelligence Units had accepted the nomination of Iraq for its membership.

In a statement, CBI said the Anti-Money Laundering and Countering Financing of Terrorism Office is nominated to join the Egmont membership of the Financial Intelligence Units (FIUs).

"The report of the field visit to Iraq was discussed during the meeting of the Working Group on Membership, Support, and Commitment MSCWG held in Senegal on January 31, 2023. As a result, the group concluded to nominate Iraq with full membership in the Egmont Group during the July 2023 meetings." CBI explained.

According to its official website, the Egmont Group is a united body of 166 Financial Intelligence Units (FIUs): FIUs are uniquely positioned to support national and international efforts to counter terrorist financing. FIUs are also trusted gateways for sharing financial information domestically and internationally per global anti-money laundering and counter-financing of terrorism (AML/CFT) standards.

The Egmont Group provides FIUs with a platform to securely exchange expertise and financial intelligence to combat money laundering, terrorist financing (ML/TF), and associated predicate offenses. The website said.