Central Bank of Iraq Organizes Awareness Workshop on Illicit Gains 2024 BY DINAR REVALUATION, 16 AUGUST

 Central Bank of Iraq Organizes Awareness Workshop on Illicit Gains 2024

The Central Bank of Iraq (CBI) has taken a significant step in combating financial crimes by organizing an awareness workshop on illicit gains in 2024. This initiative is part of the CBI's efforts to enhance financial inclusion and stability in the country.

Background

The CBI has been actively working to combat money laundering and terrorist financing in Iraq. In 2015, the Iraqi Anti-Money Laundering and Counter-Terrorist Financing Law No. 39 was enacted, which established the Money Laundering Office and developed strict supervisory mechanisms. 1

Financial Inclusion Week

The CBI, in collaboration with the International Labour Organization (ILO) and the Italian Agency for Development Cooperation (AICS), launched the Financial Inclusion Week in Southern Iraq in May 2024. The initiative aimed to empower individuals and businesses with financial literacy skills, particularly in the southern region of Iraq.  2

Illicit Gains Awareness Workshop

The awareness workshop on illicit gains is a crucial step in the CBI's efforts to combat financial crimes. The workshop aims to educate participants on the risks associated with illicit gains and the importance of reporting suspicious transactions.

Objectives

The objectives of the workshop include: Raising awareness on the risks associated with illicit gains Educating participants on the importance of reporting suspicious transactions Enhancing financial inclusion and stability in Iraq

Participants

The workshop is expected to attract participants from various sectors, including banking, finance, and law enforcement.

Conclusion

The Central Bank of Iraq's awareness workshop on illicit gains is a significant step in combating financial crimes in the country. The initiative demonstrates the CBI's commitment to enhancing financial inclusion and stability in Iraq.

SOURCES: 

https://www.worldbank.org/en/projects-operations/procurement/debarred-firms

https://reliefweb.int/report/iraq/financial-literacy-sustainable-future-iraq-enar

https://www.thenationalnews.com/news/mena/2024/06/18/iraq-bank-corruption-war/