The Special Representative of the UN Secretary-General in Iraq, Mohammed Al-Hassan, stated that Iraq is on course to become a regional and international banking hub, but faces significant challenges in regaining its financial standing.

Speaking at the Anti-Money Laundering and Combating the Financing of Terrorism Conference in Baghdad, Al-Hassan noted: "Iraq is confronting both regional and international challenges in its efforts to restore credibility and position in the global financial system."

He emphasized that a robust financial sector is essential for the full recovery of Iraq’s economy and highlighted Iraq's ongoing commitment to restoring confidence in its banking and financial institutions.

Al-Hassan added that the United Nations supports Iraq’s efforts, affirming that the country is on a path to becoming an active financial player in the region and beyond.

"The fight against terrorism is a global issue, not Iraq’s alone," he said, "and the sacrifices Iraq has made in lives and resources are substantial. These efforts must be sustained to rebuild Iraq’s international financial reputation."

The remarks were delivered during the second Anti-Money Laundering and Counter-Terrorism Financing Conference, held in Baghdad under the theme: “Challenges of Arab Banks in Complying with International Laws and Correspondent Bank Requirements.”

The event was organized by the Central Bank of Iraq, in collaboration with the Union of Arab Banks and the Association of Iraqi Private Banks.