News
IASCA Conducts Specialized Assessment Sessions for the Trade Bank of Iraq’s AML/CFT Reporting Department
04-Jan-2026
BAGHDAD - The International Arab Society of Certified Accountants (IASCA) conducted a series of specialized assessment sessions for the Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) Reporting Department at the Trade Bank of Iraq. The sessions came as part of the IASCA’s ongoing efforts to support banking institutions and strengthen their compliance with AML/CFT requirements, in line with internationally recognized best practices and established professional standards.
The assessment sessions were designed to deliver a comprehensive review of the Department’s existing policies and procedures, evaluate its adherence to relevant laws and regulatory directives, and examine the effectiveness of reporting and risk management frameworks, as well as the robustness of the internal control systems in place.
The sessions also addressed the practical challenges faced by compliance teams, while offering professional observations and targeted recommendations aimed at enhancing operational efficiency and strengthening institutional readiness in managing risks of money laundering and terrorist financing.
IASCA emphasized that the implementation of these sessions is part of its core mission to support the banking and financial sector across the Arab countries, and to contribute to the consolidation of good governance, transparency, and compliance practices, in alignment with local regulatory requirements and relevant international standards.
For its part, he Bank expressed its appreciation for the cooperation with IASCA, underscoring the importance of these sessions in strengthening the capabilities of specialized staff and enhancing the overall compliance framework—thereby positively contributing to the soundness and integrity of banking and financial operations.