Central Bank: 10 banks are under liquidation for their inability to return citizens’ deposits!
Central Bank: 10 banks are under liquidation for their inability to return citizens’ deposits!
2025-08-12
The Governor of the Central Bank of Iraq announced on Tuesday that 10 Iraqi banks are under liquidation due to their inability to return customer deposits. Al-Alaq stated that “the banking reform document (2025) represents a strategic step to enhance confidence in the Iraqi banking system and address shortcomings,” noting that about 80% of the Iraqi currency is stored outside banks in homes due to weak confidence in the banking system,” according to the government newspaper Al-Sabah.
He also indicated that the reform document aims to modernize banks according to international standards and attract global partnerships. He also revealed that only (10%) of the banks expressed reservations about the plan, while there are (10) banks under liquidation due to their inability to return customer deposits.
burathanews.com
