On Wednesday, Prime Minister Muhammad Shiaa Al-Sudani said that banking reform has contributed to a reduction in money laundering activities in Iraq.
According to a statement acquired by Shafaq News Agency, this occurred during his meeting with US Assistant Secretary of the Treasury Elizabeth Rosenberg in Baghdad.
During the discussion, the government’s plans to undertake financial and banking reforms to decrease corruption in all its forms were addressed, as well as combined cooperation between Iraqi financial institutions and the US Department of the Treasury.
The Prime Minister stated that “the government is continuing to implement its priorities in reforming the banking sector, which is a basic basis for developing the economy, by adopting international standards and addressing the distortions and imbalances that accompanied its work and keeping pace with developments,” emphasizing that “those reforms have significantly contributed to reducing… It also handled suspicious commerce and decreased corruption as a result of money laundering operations.”
According to Al-Sudani, “the government has come a long way in implementing its reforms in financial institutions, public and private sectors.”
Rosenberg, for her part, lauded the government’s significant initiatives toward financial and banking reform, which will help Iraq progress its economy and strengthen its programs and goals for long-term growth.