The Iraqi Development Bank rejects US Treasury accusations: This is a reputation issue.
The Iraqi Development Bank rejects US Treasury accusations: This is a reputation issue.
2026-10-16
Shafaq News – Baghdad
The International Development Bank for Investment and Finance rejected on Friday what it described as “accusations by the US Treasury,” stressing that it is dealing with developments related to this matter with the utmost seriousness, responsibility and transparency.
The administration stated in a statement received by Shafaq News Agency that it categorically rejects the information and allegations, stressing its full readiness to cooperate with the Central Bank of Iraq and the US Treasury Department, through official and legal channels, to address the issue, clarify the facts, and defend the bank’s reputation and the rights of all parties associated with it.
She explained that the bank has worked over the years to build a solid banking institution that contributes to supporting the Iraqi economy, and operates under the supervision and control of the Central Bank of Iraq, while adhering to banking legislation, instructions and approved compliance standards.
The administration stressed the importance of “not confusing the nature of the case and the procedures issued by the US authorities with the bank’s financial situation or its ability to meet its obligations, noting that it will continue to manage its resources and obligations responsibly, and take the necessary measures to deal with the operational and regulatory implications of the decision.”
She also stressed that protecting the rights and interests of depositors and customers is her top priority, and that she is working in coordination with the Central Bank of Iraq and the relevant regulatory bodies to ensure the continuity of permitted banking services and the responsible and transparent management of liquidity and financial obligations, in accordance with applicable laws and instructions.
The bank’s management concluded its statement by affirming its confidence in Iraqi state institutions and its commitment to close cooperation with the Central Bank in order to protect the rights of depositors and support the stability of the Iraqi banking sector.
The US Treasury Department announced on Thursday new sanctions targeting Iranian networks that circumvent international sanctions, including 16 individuals and 10 entities, among them an Iraqi bank.
The measures included, in a statement by the ministry translated by Shafaq News Agency, the International Development Bank for Investment and Finance (IDB), which is based in Iraq, as Washington accuses it of facilitating Iranian financial transactions and securing access to the US dollar, as well as maintaining relations with Iranian government entities and armed groups allied with Tehran inside Iraq.
shafaq.com
