Iraq is outside HM Treasury's blacklist, CBI says

Shafaq News/ Iraq eschewed the British Treasury's list of high-risk countries, according to the decision 392 of 2021.

The Central Bank of Iraq (CBI) said in a press release today, Sunday, that the HM treasury decision reflects the CBI's efforts to cherish a business environment that respects the money laundering and terrorism financing international norms.

CBI said that UK adopted the Financial Action Task Force (FATF) recommendations for categorizing high-risk jurisdictions subject to a Call for Action for having significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation.

The Central Bank said that Iraq's non-appearance on this list is an approbation for the country's financial system, indicating that the decision has a positive impact upon the commercial business between Iraq and UK and bolsters financial operations between both countries.