The Central Bank of Iraq fines banks and exchange companies about 250 billion dinars
The Central Bank of Iraq fines banks and exchange companies about 250 billion dinars
2024-10-27 02:03
Shafaq News/ The Central Bank of Iraq announced on Sunday that fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 249 billion Iraqi dinars during the past nine months.
A table of the bank, which Shafaq News Agency reviewed, showed that the fines imposed on banks and financial companies during the past 9 months, starting from January until the end of last September, amounted to 249 billion, 889 million, 756 thousand and 16 dinars, indicating that “the fines also included 221 administrative penalties for these banks and non-banking institutions, distributed between warnings, alerts and grace periods.”
The table showed that “January witnessed the highest fines on banks and non-financial institutions, as these fines reached 98 billion, 277 million, 722 thousand and 62 dinars, with 17 administrative penalties, while September witnessed the lowest fines, reaching 2 billion, 331 million, 465 thousand and 48 dinars, with 13 administrative penalties.”
The table did not show the names of the banks that were fined and subjected to administrative penalties.
The Iraqi Stock Exchange Investors Association had criticized the Central Bank of Iraq’s increase in fines on banks, noting that it would affect the profitability of investors in the shares of these banks.
shafaq.com
