THE DEVELOPMENT BANK ANNOUNCES ITS DIAMOND SPONSORSHIP OF THE ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM CONFERENCE IN BAGHDAD
The International Development Bank announced on Thursday its sponsorship of the Anti-Money Laundering and Combating the Financing of Terrorism Conference in Baghdad.
In a statement seen by Al-Eqtisad News, the bank said, “Based on its strategy based on compliance and transparency, the International Development Bank, one of the largest private banks in Iraq, announced its participation as the diamond sponsor of the second Anti-Money Laundering and Combating the Financing of Terrorism Conference, which will be held at the Rashid Hotel in the capital, Baghdad, over two days, May 28 and 29, 2025, under the patronage of Prime Minister Mohammed Shia Al-Sudani, and with the participation of an elite group of banking leaders and regulatory bodies, both locally and internationally.”
He added, “This conference is being organized by the Union of Arab Banks in cooperation with the Central Bank of Iraq and the Iraqi Private Banks Association, under the title ‘Challenges Facing Arab Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks.’ It brings together Iraqi bankers and regulatory authorities to highlight the most prominent challenges that continue to hinder Iraqi banks from opening effective channels with international financial markets and correspondent banks, in addition to reviewing ways to enhance the confidence of the international financial community in the Iraqi banking sector.”
The bank explained that “this conference provides a high-level platform for discussing the challenges facing Arab banks in meeting correspondent banking requirements and implementing international best practices in the areas of governance, risk management, compliance, and combating money laundering and terrorist financing, with a focus on the importance of technological and digital development to enhance oversight and transparency systems.”
“We are proud to sponsor this prominent banking event, which represents a strategic platform for exchanging expertise and enhancing coordination between banks, financial institutions, and regulatory authorities,” said Ziad Khalaf Abd, Chairman of the Board of Directors of the International Development Bank, according to the statement.
He stated, “Our commitment to compliance and transparency is not just a regulatory imperative, but an integral part of our vision to achieve sustainable growth, enhance the bank’s leading position in the financial sector in Iraq, and position it on the regional and international stage.”
The bank noted that “the conference will address a number of strategic financial topics, including: enhancing integration with the global financial system and developing relationships with correspondent banks, preventing the risks of inclusion on grey and black lists, building a culture of institutional compliance, and activating cooperation between internal departments. It will also review the applications of financial technology and artificial intelligence in combating financial crimes, highlight the role of central banks in supporting sustainable compliance, and strengthen partnerships with regional and international institutions to achieve global standards.”
He explained that “the conference will be attended by decision-makers in the banking sector, as well as managers of compliance and risk, internal audit, anti-money laundering, information security, and other specialized personnel, as part of the effort to enhance the efficiency of Arab banking and modernize the institutional structure in line with the requirements of the current stage.”