Minister of Justice Khaled Shawani confirmed today, Wednesday, that the measures taken in the real estate registration departments to limit money laundering operations are part of the strategy developed by the government to combat corruption and money laundering.
The Minister of Justice indicated during his reception of Ambassador Mohammadi Ahmed Al-Ni, Secretary-General of the Council of Arab Economic Unity, and Ambassador Ahmed Abbas Al-Hasani, Chairman of the Arab Union for Combating Forgery and Counterfeiting, and the accompanying delegation, that “the Ministry of Justice is a member of the Supreme Committee for Combating Money Laundering, and that the measures taken in the real estate registration departments to limit money laundering operations, such as relying on bank notification for sales operations in which the value of the property exceeds 500 million dinars, as well as relying on documentation and electronic transactions and organizing sales and purchase operations, are part of the strategy set b
y the government to combat corruption, thanks to which Iraq emerged from the gray area classification according to the testimony of the Transparency International Organization.”
He added: “We submitted a draft amendment to the real estate registration and real estate brokerage laws to the Council of State for the purpose of auditing and referring it to the executive and legislative authorities for approval.”
He explained that “implementing these amendments will place Iraq among the advanced countries in combating money laundering, in conjunction with the major steps achieved towards transparency, which were achieved through the government’s seriousness in dealing with the file of combating corruption and money laundering. The possibility of Iraq joining the Arab Arbitration Authority was also discussed.”
Source: National Iraqi News Agency