According to the National Bank of Iraq, the sanctions on banks and non-banking financial institutions, including trade organizations, reached 181,842,854 458 IQD ($138,284,000) during the past six months.
Without mentioning their names, a bank analysis revealed that these establishments received 151 administrative penalties—including warnings, notices, and extensions—without details.
The study reported that January showed the most fines with 98,277,722,062 IQD with 17 administrative penalties, while June had the fewest with only 30 administrative penalties amounting to 2,829,157,288 IQD in fines.
The Iraqi Protections Market Financial backers Affiliation has put an examination on CBI’s decision to increase fines to banks, arguing it may hurt the productivity of financial backers in the shares of these banks.
