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Central Bank: Iraq's dollar cash distribution system is the best among countries in the world.

5/28/2025

On Wednesday, the Governor of the Central Bank, Ali Al-Alaq, described the cash distribution system for the dollar in Iraq as "the best among countries in the world."

In a speech at a conference held in Baghdad on combating money laundering and terrorist financing, Al-Alaq said, "We have many important achievements to protect the financial and banking system, which is a fundamental pillar of the anti-money laundering and anti-terrorist financing system, protecting it from misuse in suspicious and illegal financial transactions."

He added, "Among the measures we have taken in this area is strengthening financial oversight of foreign remittances. We have made significant efforts to promote this practice by opening multiple channels, and we have succeeded in reducing money laundering."

Al-Alaq continued, saying, "Our international partners have deemed the dollar cash distribution system in Iraq the most optimal among countries in the world," noting the "establishment of a central registry at the international level that includes real bank data, allowing relevant authorities to access this registry and identify its data on a regular basis to enhance transparency and prevent the misuse of fictitious data."

He stressed that "we have continued to work diligently to combat money laundering and terrorist financing," praising the Kurdistan Region's role in cooperation in this area.

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