Dozens of banking company owners demonstrate in front of the Central Bank of Iraq

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Dozens of banking company owners demonstrate in front of the Central Bank of Iraq

On Thursday morning, many owners of banking companies held a protest outside the Central Bank of Iraq in downtown Baghdad. They were demanding that the penalties imposed on them for violating financial transaction laws be lifted.

A correspondent reported that around 80 bank company owners protested in front of the Central Bank building on Al-Rashid Street, demanding the lifting of administrative and financial penalties imposed on them.

In late September, the Central Bank of Iraq reported that banks and non-banking institutions, including exchange companies, received over 90 billion Iraqi dinars in fines for the first eight months of 2023.

The Central Bank of Iraq’s increase in fines on banks was criticized by the Association of Investors in the Iraqi Stock Exchange. They noted that it would affect the profitability of investors in the shares of these banks in early June.

On January 19, the Central Bank of Iraq announced decisions to restore the foreign currency market to its normal state after a recent increase.

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