Iraq Implements Stricter Regulations on Real Estate Transactions to Fight Money Laundering
January 21, 2025 - 10:42
Baghdad – In a significant move to enhance financial integrity, the Central Bank of Iraq (CBI) has announced new regulations aimed at combating money laundering and terrorism financing within the real estate sector. The updated measures include a reduction in the threshold for cash transactions, which will now require greater scrutiny from financial institutions and real estate agents.
Under the new rules, transactions exceeding a specified limit will necessitate detailed documentation and verification processes. This initiative is designed to ensure that all real estate dealings are transparent and traceable, thus minimizing the risk of illicit financial activities. The CBI emphasized that these regulations are crucial for maintaining the integrity of the financial system and fostering a secure investment environment.
In addition to cash transaction limitations, the CBI plans to enhance training for real estate professionals on compliance and reporting obligations. This comprehensive approach aims to strengthen the overall framework for monitoring and addressing potential financial crimes in Iraq's burgeoning real estate market.
MORE NEWS
August 12, 2025 - 04:34
The Growing Appeal of Passive Real Estate InvestingIn recent years, an increasing number of investors have been gravitating towards passive real estate investing as a viable strategy for wealth accumulation. This approach allows individuals to...
August 11, 2025 - 04:35
Brookline's Residential Real Estate Activity in Late JulyDuring the latter part of July, Brookline experienced a robust real estate market with 28 residential properties changing hands between July 14 and July 25. The sales showcased a diverse range of...
August 10, 2025 - 08:11
XRP News Today: Speculation Rises Over Saudi Real Estate InvolvementRecent rumors surrounding the potential use of XRP in Saudi Arabia`s real estate market have ignited a wave of speculation among investors and cryptocurrency enthusiasts. The discussions center on...
August 9, 2025 - 20:50
Mortgage Rates Dip: 30-Year Fixed Rate Down 10 Basis PointsIn a noteworthy shift in the housing market, the average 30-year mortgage rate has decreased by 10 basis points, settling at 6.72%. This decline may influence potential homebuyers who have been...