CBI levies about $70M fines on banks, exchange firms

Shafaq News – Baghdad

On Monday, Iraq’s Central Bank (CBI) imposed more than 91 billion dinars (about $69 million) in fines on banks and non-banking financial institutions, including exchange companies, during the first nine months of 2025.

In a statement, CBI noted that sanctions also included 98 administrative measures such as warnings, notices, and grace periods against financial entities.

The bank did not disclose the names of the banks or exchange firms penalized.

CBI added that the fines were significantly lower than those recorded during the same period last year, when penalties reached nearly 199.9 billion dinars (about $153 million) alongside 221 administrative actions.

Iraq currently has 51 private banks—23 conventional and 28 Islamic—operating across the country under CBI’s supervision.