Rafidain Bank announced, today, Friday, the continuation of updating data and information to ensure safety from suspicions of money laundering.
The bank's media office stated in a statement received by the Iraqi News Agency (INA), that "in implementation of government directives and instructions of the Central Bank of Iraq / Anti-Money Laundering and Terrorist Financing Office, the Money Laundering and Terrorist Financing Reporting Department at Rafidain Bank conducted field visits to the bank's branches in Baghdad and the governorates," noting that "the risks of money laundering and terrorist financing and the mechanisms to combat them and report suspicious transactions and monitor them using available means and methods."
He added that "the visits concluded with auditing the work of liaison employees and following up on updating the (KYC) form, which ensures the safety of customers' funds and accounts from any suspicions of money laundering," noting that "due diligence measures are taken for companies and customers according to the Anti-Money Laundering and Terrorist Financing Law."
I believe [local banks] will send the currency to headquarters...JP Morgan is going to do everything for you.
The bank you have an account with is the place where you're going to put your money in.
JP Morgan will exchange your dinar for your American dollars and then electronically they will credit your account at Chase.
But JP Morgan will be, what I call, your team...It doesn't have to be your team, you can create your own team.
These financial advisers will offer you a lawyer that represents them, not you...You want to be prudent...Do not go with just one opinion. Get more than one opinion...
Shafaq News/ American interpretations of the decision by Baghdad and Washington to end the International Coalition's mission and withdraw forces from Iraq vary. Some see it as “a natural step” after ISIS's defeat, while others call for a “full US military exit,” a decision left to the next president.
On Friday, the US and Iraq reached an agreement to formally conclude the US-led military coalition's anti-ISIS mission in Iraq by 2025. While certain US troops will leave long-held bases, officials have not clarified how many of the 2,500 US forces stationed in Iraq will remain. Pentagon deputy press secretary Sabrina Singh confirmed that the US military presence would be adjusted but did not provide specific numbers.
This agreement comes at a time of heightened tensions in the Middle East. Regional conflicts involving Israel, Hezbollah in Lebanon, and Hamas in Gaza raise concerns about a potential broader war. US military installations in Iraq have frequently been targeted by Iran-backed forces, particularly following the Israel-Hamas war last year.
The two-phase plan outlined in the agreement states that by September 2025, the coalition’s mission will end, and US forces will vacate bases such as Ain al-Asad and Baghdad International Airport. They will relocate to Hareer base in northern Iraq’s Kurdistan region. The second phase allows for a limited US presence to continue supporting counter-ISIS efforts in Syria until 2026, though the exact number of troops that will remain in Iraq remains unclear.
While Iraqi Prime Minister Mohammed Shia al-Sudani has voiced confidence in his nation’s forces to manage the remnants of ISIS, facing internal pressure from pro-Iran factions. US officials, however, have warned that the threat of ISIS persists, particularly in Syria, where the group has increased its activities.
According to The Media Line, “this phased withdrawal is part of a broader adjustment of US military operations in the region.” The American news agency reports that the withdrawal will reduce American military operations, with certain bases being vacated, yet leave a residual force to counter potential ISIS resurgence.
Time Magazine offered a different perspective, framing the deal as "long overdue" and suggesting that the US should fully withdraw from Iraq. The magazine emphasized that while Washington will not be pulling all its troops, the agreement represents the start of a "conditions-based transition" that risks prolonging US involvement. Critics of this gradual approach argue that the US has already accomplished its counter-ISIS goals in Iraq. As Time Magazine pointed out, “the territorial caliphate has been destroyed, and local forces are now more capable of managing security operations.”
Concerns remain, however, about whether a complete US departure could embolden ISIS and Iran. US lawmakers, such as House Armed Services Committee Chairman Mike Rogers, have expressed alarm that a full withdrawal would benefit Iran and ISIS. Rogers warned that "withdrawing from Iraq in this way would embolden Iran and ISIS," a sentiment echoed by retired Gen. Joseph Votel, who claimed that ISIS would "inevitably" resurge without a U.S. military presence.
Time Magazine countered these claims by noting that local forces, including the Iraqi army and Kurdish peshmerga, have significantly improved their capabilities since the fight against ISIS began in 2014. Moreover, they argue that "the US intelligence community would remain “laser-focused " and could take action against ISIS without a ground presence, citing past examples of successful operations, such as the 2022 drone strike that killed Al-Qaeda leader Ayman al-Zawahiri in Afghanistan.
The phased withdrawal will likely shape the future of US-Iraq relations. Time Magazine concluded that “the Biden administration has set the stage for a more normal, business-like relationship with Iraq,” but the ultimate decision on the US military's future role in the country may rest with the next president.
Disclaimer: The views presented by the author do not necessarily reflect the official standpoint of Shafaq News Agency.
World Trade [Organization]...one of the major things Iraq needs to really move forward towards membership is they need their MFTR [Memorandum of Foreign Trade Regime] completed...
Article Quote: "The completion of all these requirements was confirmed in March of 2024."
Iraq's next meeting is roughly November 6th through the 8th. They will...have all steps complete.
That's when they would be eligible. Their 30 days towards membership would start right around early November...Full member probably by the end of December of this year.
Shafaq News/ The Iraqi Resistance Coordination Committee accused the United States of delaying the full withdrawal of its forces from Iraq, casting doubts on Washington’s sincerity in ongoing discussions about foreign military presence.
In a statement on Sunday, the committee reaffirmed its demand for the removal of all foreign forces, including US troops. "The withdrawal of all foreign forces, including American, is a key goal of the Iraqi Resistance Coordination Committee," the group said. "Our fighters have sacrificed their lives for the sovereignty of our nation and the dignity of our people."
The committee expressed doubt over the US commitment to the process, suggesting Washington is attempting to "buy time." "While we appreciate the efforts of the Iraqi government to remove the so-called ‘Global Coalition Forces,’ we believe the American side is not acting in good faith and is trying to delay the issue," the statement read.
The group laid out three essential conditions for any agreement involving foreign forces in Iraq. First, the withdrawal must be "comprehensive and follow a clear, agreed-upon timeline." Second, US operations in Syria launched from Iraq must not violate Iraq’s constitution or harm its relations with Syria. Third, "no immunity should be granted to foreign military personnel, regardless of their roles."
The committee warned that it would not accept any deal that did not include these terms. "We will not be bound by any agreement that fails to explicitly address these points," the statement concluded.
On Friday, a joint statement by Baghdad and Washington said the two sides have agreed that the US-led coalition's military mission in Iraq will end by September 2025, ushering a transition to bilateral security partnerships.
The US has approximately 2,500 troops in Iraq and 900 in neighboring Syria as part of the coalition formed in 2014 to combat Islamic State (ISIS) as it rampaged through the two countries.
Iraqi Prime Minister Mohammed Shia al-Sudani initiated talks with Washington in January on the change. He has said that, while he appreciates their help, US troops have become a magnet for instability, frequently targeted and responding with strikes often not coordinated with the Iraqi government.
Reuters has reported that the agreement would see hundreds of troops leave by September 2025, with the remainder departing by the end of 2026.
Under the plan, all coalition forces would leave the Ain al-Asad airbase in western al-Anbar and significantly reduce their presence in Baghdad by September 2025. US and other coalition troops are expected to remain in Erbil. Other nations, including Germany, France, Spain, and Italy, contribute hundreds of troops to the coalition.
This position has grown more important as regional confrontations escalate in the Middle East, with US forces in Iraq shooting down rockets and drones fired towards Israel in recent months, according to US officials.