Within the framework of enhancing awareness and commitment to international standards for combating money laundering and terrorist financing, I participatedThe Iraqi Company for Financing Small and Medium EnterprisesToday in a specialized workshop entitled"National Risk and Terrorist Financing Assessment", which was delivered beforeMs. Liqaa Finjan, Head of the Anti-Money Laundering Office.

The workshop, which was held on29 January 2025, the latest developments contained in the National Risk Assessment issued inJanuary 2023The implementation of its training programs had previously been postponed due to the Corona pandemic.

During the workshop, highlights were highlighted:

  • Risk classification (high - medium - low) according to the forty recommendations issued by the Central Bank of Iraq.
  • The importance of due diligence for financial, banking and non-banking institutions.
  • International agreements related to combating terrorism and corruption and the importance of the state’s commitment to them.
  • The role of the reporting officer and mechanisms for identifying suspicious cases.
  • Recommendation (29) of the Anti-Money Laundering Office.
  • Assess risks at the general and external levels (national context and external environment).
  • The three types of money laundering operations:Self wash, third party wash, independent wash.

The Iraqi company's participation in this workshop comes as part of its ongoing efforts to raise the level of institutional awareness and enhance the capabilities of its employees to confront the challenges associated with combating money laundering and the financing of terrorism, in line with international standards and the requirements of the Central Bank of Iraq.