An introductory profile of the Compliance Controller's Office

An introductory profile of the Compliance Controller's Office

The Central Bank of Iraq has worked on modernizing and developing the mechanisms of the Compliance Controller’s office in line with leading practices, and has issued laws and instructions that enhance the office’s role in managing compliance risks and reducing the possibility of their occurrence and the consequences if the bank is exposed to one of these risks, in order to be able to address the negative repercussions of compliance risks in This bank, supporting corporate governance and protection from reputational risks, to ensure the safety and stability of the financial and banking sector.

Where the basic functions of the Compliance Controller Office are to follow up and test the extent of compliance of the Bank's various departments with international requirements, instructions, local laws and leading practices, as well as providing advice and consultations to the management on applicable laws, regulations and standards, The office is completely independent of the various activities of the Bank and is administratively and technically subordinate to the Governor of the Central Bank of Iraq.