Compliance Policy And Statement

Compliance and Anti-Money Laundering (AML) are two distinct departments at IDB. These departments play a crucial role in safeguarding the Bank and fostering a strong culture of compliance by offering regulatory, AML, and compliance advice and guidance, such as policy development and training, across all areas of the Bank. Our significant investment in these areas reflects our aspiration to be:

• A best-in-class Compliance organization.
• Structured with clear accountabilities and a rational organizational framework.
• Staffed by knowledgeable, impactful, and positive change agents.
• Engaged constructively with relevant stakeholders.
• Clear in communicating relevant regulatory and policy standards.
• Aligned with other Risk & Control areas to bolster the overall control environment.
• Committed to the Compliance mandate, with strict attention to rules and behaviors.

Safeguard the Bank with world-class AML monitoring and alert systems.

• Ensure transparent and open dealings with regulators.
• Implement strong, compelling, and effective controls and processes.
• Maintain a core focus on risk assessment, testing, verification, surveillance, policy, and training.
• Develop consistent and cohesive programs and approaches across the organization.
• Target areas of greater risk.
• Escalate issues promptly with meaningful follow-through.

With reference to the Foreign Account Tax Compliance Act (FATCA), which came into effect on July 1, 2014, we hereby declare that the International Development Bank of Iraq (IDB Iraq) is "FATCA compliant" as a reporting Financial Institution under "Model 2 IGA." The IRS (Internal Revenue Service) has assigned the following Global Intermediary Identification Number (GIIN) to IDB Iraq: CQM1W8.99999.SL.368.

Our registration can also be found on the official Foreign Financial Institution (FFI) list at the following link: