The Central Bank of Iraq's Anti-Money Laundering and Counter-Terrorist Financing Office held a specialized workshop on implementing targeted financial sanctions, presenting it as part of Iraq's work to meet Financial Action Task Force action plan requirements tied to the country's mutual evaluation process. The update centers on improving the immediate and effective application of targeted financial sanctions across financial institutions and designated non-financial businesses and professions. The workshop covered the legal and regulatory framework for targeted financial sanctions, mechanisms for implementing relevant United Nations Security Council resolutions, and the roles and responsibilities of financial institutions and other covered sectors. It also examined practical implementation challenges and ways to strengthen compliance so sanctions can be applied without delay. Technical discussions focused on aligning implementation methods, improving the capacity of supervised entities and strengthening institutional coordination in line with national and international requirements.
Central Bank of Iraq2026-07-16
Central Bank of Iraq holds targeted financial sanctions workshop to support FATF action plan and mutual evaluation
The Central Bank of Iraq's Anti-Money Laundering and Counter-Terrorist Financing Office held a workshop on targeted financial sanctions as part of efforts to meet FATF action plan requirements linked to Iraq's mutual evaluation. It focused on the legal framework, implementation of relevant UN Security Council resolutions, and the responsibilities of financial institutions and other covered sectors. Participants also discussed harmonising implementation, improving capacity and strengthening coordination.