CBI places Al-Taif Islamic Bank under guardianship
2026-09-02T16:33:33+00:00
Shafaq News- Baghdad
The Central Bank of Iraq (CBI) placed Al-Taif Islamic Bank for Investment and Finance under guardianship on Wednesday over violations that affected its financial position and depositors’ funds, according to a document obtained by Shafaq News.
Acting CBI Governor Nizar Nasser Hussein appointed Imad Mohammed Hamad as guardian of the bank for 18 months.
The document did not specify the nature of the violations.
Earlier today, authorities arrested several former managers of state-owned Rafidain Bank over suspected corruption and misuse of public funds, with investigators examining contracts, loans and investment financing approved in previous years.
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