80 billion dinars in “fines” imposed by the Iraqi Central Bank on banks and exchange companies

The Central Bank of Iraq announced that the fines imposed on banks and non-banking institutions (exchange companies) amounted to about 80 billion Iraqi dinars during the past seven months.

And a table for the bank showed that the fines imposed on banks and financial companies during the past seven months, starting from January 2023, and until the end of last July amounted to 79 billion and 777 million and 817 thousand and 397 dinars, indicating that “the fines also included 318 administrative penalties for these banks and institutions.” Non-banking distributed between warning, warning and respite.

And the table indicated that “the month of April witnessed the highest fines on banks and non-financial institutions, as these fines reached 17 billion and 440 million and 383 thousand and 447 dinars, with administrative penalties amounting to 17 penalties, while the month of June witnessed the lowest fines, amounting to 8 billion and 353 million and 387 thousand and 476.” dinars with administrative penalties amounting to 50 penalties.
The table did not show the names of the banks on which fines and administrative penalties were imposed.

The Association of Investors in the Iraq Stock Exchange had criticized early last June, the Central Bank of Iraq to increase fines on banks, noting that it will affect the profitability of investors in the shares of these banks.

SOTALIRAQ.COM