UNITED NATIONS: WE BELIEVE IN IRAQ’S RETURN TO ITS POSITIVE ROLE

UNITED NATIONS: WE BELIEVE IN IRAQ’S RETURN TO ITS POSITIVE ROLE

The United Nations Assistance Mission for Iraq (UNAMI) announced on Wednesday that it believes in Iraq’s return to its positive role, while stressing that legislative compliance is the primary guarantee for the sustainability of the digital transformation .

The UN Secretary-General’s Representative in Iraq, Mohammed Al-Hassan, said in statements monitored by “Mil” that “this conference represents an important milestone in Iraq’s journey towards transitioning to a state of law and institutions and positive interaction with efforts to combat money laundering and dry up the sources of terrorist financing.” He praised “the choice of the title of this session (Challenges of Arab banks in complying with international laws and legislation and ways to meet the requirements of correspondent banks), which expresses a growing awareness among financial and banking institutions that restoring confidence and the efforts of international companies require adherence to the highest standards of transparency and accountability .”

He added, “The United Nations believes in Iraq and Iraq’s return, and believes that good governance, transparency, and international transition are not just slogans, but rather pillars toward a transparent economy that interacts with the region and the world.” He praised the efforts of the Central Bank of Iraq and the Iraqi Private Banks Association for “leading this positive movement .”

Al-Hassan called for “strengthening partnerships with international and regional financial institutions, including the International Monetary Fund, the World Bank, the Financial Action Task Force, the Economic and Social Commission for Western Asia, and others, in order to build national capacities that facilitate raising standards to keep pace with global requirements and requirements,” noting that “such partnerships are accompanied by benefiting from successful experiences in a number of Arab and non-Arab countries that were able to gain the trust of international institutions and peoples by adopting profound reforms capable of integrating Iraq into the global banking system in a way that serves its national interests towards sustainable development .”

He explained that “today’s conference serves as a platform for exchanging expertise and reviewing the applications of technology and artificial intelligence as practical tools for strengthening compliance organizations,” noting that “in light of the accelerating digital transformation, technology is no longer an option but an urgent necessity. If properly utilized, it can uncover suspicious patterns, enhance the accuracy of regulatory procedures, and accelerate financial risks .”

He stressed the need for “such technological development to be coupled with a transparent legislative and legal system. While digitization offers unprecedented possibilities, legislative compliance remains the primary guarantee for the sustainability of today’s transformation .”