KRG intensifies efforts to combat money laundering and terror financing

Shafaq News / The Ministry of Interior of the Kurdistan Region announced that its Minister, Rebar Ahmed, met with the Kurdistan Regional Government's (KRG) team responsible for addressing financial risks and combating money laundering and terrorist financing.

The team comprises representatives from the Ministry of Interior and 15 other institutions affiliated with the KRG, with the collective responsibility of implementing the region's overarching policy. This policy aligns with international recommendations concerning the eradication of money laundering opportunities and the comprehensive tightening and drying up of terrorism financing sources.

A ministry statement acknowledged that Minister Ahmed expressed gratitude to the team for their smooth operations, highlighting the efforts of the government and related institutions in the Kurdistan Region in fighting terrorism and its sources of income and financing for years. The KRG has pursued a clear policy and taken significant steps to prevent money laundering opportunities.

Regarding international recommendations for assessing the situation in Iraq and the Kurdistan Region, the Minister of Interior urged the KRG team to cooperate and coordinate with the federal team in implementing the recommendations specific to the Kurdistan Region. This collaboration should occur after adapting them to the characteristics of the institutions and should be completed as soon as possible.

Furthermore, the Minister discussed the KRG's draft law for the gradual implementation of the federal law on combating money laundering and terrorist financing. The draft law has been endorsed by the Council of Ministers and sent to the Kurdistan Parliament for approval.