The Central Bank of Iraq announced on Sunday that Iraq will no longer be included on the British list of high-risk countries for money laundering and the financing of terrorism, the Iraqi News Agency has reported,
"The United Kingdom," explained the bank, "has adopted the recommendations of the Financial Action Task Force (FATF) in classifying countries with high risks in terms of applying anti-money laundering and terrorism financing standards, after its exit from the European Union." It added that the British government "considers Iraq to be a country that commits to keeping pace with and implementing international recommendations" in such matters.
The bank's statement emphasised that this step will be reflected positively in the facilitating of business and initiating bilateral investments. It will also support financial operations between the Iraqi banking sector and the United Kingdom.