CBI Governor: By utilizing the foreign remittance platform, our measures stopped money laundering schemes

  • 16-05-2024, 12:24
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    INA-  Baghdad

    The Central Bank of Iraq's governor, Ali Mohsen Al-Alaq, reaffirmed on Thursday that money laundering operations were stopped by the recent measures involving the foreign remittance platform.  
    "The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, participated in the Arab Forum of Anti-Corruption Bodies and Financial Intelligence Units in the Kingdom of Saudi Arabia," the Central Bank said in a statement obtained by the Iraqi News Agency (INA). It further stated that "Al-Alaq gave a speech on the efforts of the Central Bank of Iraq in spreading financial transparency and collecting information on the real beneficiary and exchanging it at international level."

    Al-Alaq emphasized in the statement that "the use of the electronic foreign transfer platform, which effectively contributed to identifying the real beneficiary and prevented the use of foreign transfers as a means of money laundering operations," embodies the recent measures taken by the Central Bank of Iraq.  
    In addition to other cases that require foreign exchange in compliance with the law, he noted that "the use of the cash sales platform contributed to the arrival of foreign currency to the real beneficiaries of travelers or students outside Iraq."