The Central Bank of Iraq (CBI) has issued substantial fines totaling approximately 250 billion dinars against 221 banks and non-bank financial institutions over the first three quarters of 2024, citing administrative and legal violations.
In the third quarter alone, 70 banks and banking institutions faced fines amounting to 68 billion and 46 million dinars. Earlier in the year, 49 banks and institutions were fined a total of 138 billion 377 million dinars in the first quarter, while the second quarter saw penalties of 43 billion 465 million dinars imposed on 102 banks and financial institutions.
The CBI’s actions highlight its ongoing efforts to ensure compliance within Iraq’s banking sector and reinforce regulatory standards across financial operations.
