About the Council

First: The Council shall establish a Council called (Anti-Money Laundering and Terrorist Financing Council) of:

(A) The Governor as President

(B) The Director General of the Anti-Money Laundering Office shall be a member and a vice-president

(C) A representative of the following bodies whose function shall not be less than that of the Director General of the members

(1) Ministry of Interior.

(2) Ministry of Finance.

(3) Ministry of Justice.

(4) Ministry of Commerce.

(5) Ministry of Foreign Affairs.

(6) Secretariat of the Council of Ministers.

(7) The National Intelligence Service.

(8) Home Security System.

(9) Securities Commission.

(10) anti-terrorism apparatus.

(D) A judge of no less than the third category nominated by the Supreme Judicial Council.

Second: The Vice-President shall replace the Chairperson in his absence

Third: The President of the Council may entertain those who believe that he should be consulted without having the right to vote.

Fourth: The Governor shall designate a Rapporteur for the Council, who shall inform the dates and agenda of the meetings of the Council, record its minutes, edit its communications, communicate them to the relevant authorities and follow up the implementation of the Council’s decisions.

The Council shall assume the following functions:

First: Drawing up policies and programs to combat money laundering, financing terrorism, financing the proliferation of weapons of mass destruction, developing them and following up on their implementation.

Second: Proposing draft laws, regulations and instructions relating to combating money laundering and financing terrorism

Third: Developing methods and criteria for discovering methods of money laundering and financing of terrorism and its follow-up and uncles

Fourth: Issuance of controls that include the limits of cash and negotiable instruments for the purpose of covering money laundering and terrorist financing operations and published in the Official Gazette.

Fifth:  Drawing up and developing appropriate training programs for personnel involved in combating money laundering and terrorism financing

Sixth: Identify and evaluate the risks of money laundering and financing of terrorism in the Republic of Iraq and update them continuously.

Seventh: Facilitating the exchange of information and coordination between the competent authorities.

Eighth: Examination of reports submitted by the Office on anti-money-laundering activities in the Republic of Iraq.

Ninth: Follow-up of global developments in the field of combating money laundering and financing of terrorism and propose the necessary procedures in this regard.

Tenth: Reporting and advising the government on money laundering and terrorism financing.

Elevnth: Manage the maintenance of statistics provided by the Office and other concerned parties in matters related to money laundering and terrorism financing in the Republic of Iraq.

Twelfth: Taking countermeasures, effective and proportionate to the magnitude of the threat in the face of countries that do not apply international standards to combat money laundering and the financing of terrorism.

Thirteenth: Follow-up of the implementation of anti-money laundering and terrorist financing policies by the competent authorities.

Fouteenth: Submit an annual report to the Council of Ministers containing a presentation on the activities of the Council and its efforts and national, regional and international developments in the field of combating money laundering and financing of terrorism and its proposals regarding the activation of the control systems.

Fifteenth: Monitor the implementation of sanctions imposed by non-compliance with UN Security Council resolutions regarding the financing of terrorism and the suppression and disruption of the proliferation of weapons of mass destruction.

Sixteenth: To submit proposals to the Council of Ministers concerning the subjection of financial activities or specific non-financial businesses and occupations to the obligations stipulated in this law.

Seventeenth: Suggesting the appointment of relevant regulatory bodies for the purposes of applying the provisions of this law.