International Development Bank Was the Diamond Sponsor of the Anti-Money Laundering and Counter-Terrorism Financing Conference in Baghdad

As part of its strategy grounded in compliance and transparency, the International Development Bank (IDB)—one of the largest private banks in Iraq—announced its participation as the diamond sponsor of the Second Anti-Money Laundering and Counter-Terrorism Financing Conference, which took place at Al-Rasheed Hotel in the capital Baghdad on May 28 and 29, 2025, under the patronage of the Prime Minister, and with the participation of a distinguished group of banking leaders and regulatory bodies locally and internationally.

The conference was organized by the Union of Arab Banks, in cooperation with the Central Bank of Iraq and the Association of Iraqi Private Banks, under the theme:

“Challenges Facing Arab Banks in Complying with International Laws and Regulations and Meeting Correspondent Bank Requirements”

The event brought together Iraqi bankers and regulatory authorities to spotlight the persistent obstacles that had hindered Iraqi banks from opening effective channels with international financial markets and correspondent banks, while also discussing strategies to boost global financial confidence in Iraq's banking sector.

This high-level platform served to address challenges faced by Arab banks in meeting correspondent banking requirements and applying international best practices in governance, risk management, compliance, anti-money laundering, and counter-terrorism financing, with a strong focus on advancing digital and technical capabilities to enhance oversight and transparency.

The conference covered a wide range of strategic financial topics, including strengthening integration with the global financial system and developing relationships with correspondent banks, preventing the risks of inclusion on grey and black lists, fostering a culture of institutional compliance, promoting internal collaboration, exploring fintech and AI applications in combating financial crimes, highlighting the role of central banks in supporting sustainable compliance, and reinforcing partnerships with regional and international institutions to meet global standards.

Participants included decision-makers in the banking sector, as well as directors of compliance, risk, internal audit, anti-money laundering, and information security, along with other specialists, all working to improve the efficiency of Arab banking operations and modernize institutional frameworks to align with current requirements.