Vol 19 (2023): May (In progress)
Financial Accounting

The Extent to Which Financial Institutions Comply With the US FATCA Law (Central Bank Of Iraq as a Model)

Khairi Ibrahim Murad
University of Duhok. College of Law, Iceland *

(*) Corresponding Author
Published May 4, 2023
  • Iraqi Banks,
  • FATCA,
  • Compliance,
  • Global Banking,
  • Tax Collection
How to Cite
Murad, K. I. (2023). The Extent to Which Financial Institutions Comply With the US FATCA Law (Central Bank Of Iraq as a Model). Indonesian Journal of Law and Economics Review, 19. https://doi.org/10.21070/ijler.v19i0.914


This study explores the challenges and risks faced by Iraqi banks in complying with the Foreign Account Tax Compliance Act (FATCA). As part of the agreement, financial institutions operating in Iraq must provide detailed information about American funds, investments, and property to ensure proper tax collection. The global banking system and technological advancements have made it crucial for Iraqi banks to adapt to the laws of adaptation, Global Banking. This qualitative research utilized document analysis and interviews with bank officials to examine the general framework of FATCA and the extent of compliance in Iraqi banks. The results suggest that while Iraqi banks face several challenges in complying with FATCA, most are taking significant steps to implement the necessary changes. The study implies the need for continued monitoring of compliance efforts and the importance of adapting to the global banking system.


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