A financial expert calls for stricter oversight of banks in Iraq.
A financial expert calls for stricter oversight of banks in Iraq.
12-24-2025
Information / Baghdad…
Financial and banking expert Abdul Aziz Hassoun called on the Central Bank of Iraq on Wednesday to take strict measures and oversight to regulate the work of banks, ensuring the protection of citizens’ rights. He pointed out that the banking system in Iraq operates within an unstable environment that has prevented it from performing its normal functions.
Hassoun told the Information Agency that “the security, economic, and social conditions are the main factors contributing to instability in the banking sector, which negatively impacts citizens’ confidence and discourages them from depositing funds, especially in government banks. This leads to a shortage of cash liquidity and disrupts economic activity in the country.”
He added that “a large number of banks are now engaging in activities that do not fall under the umbrella of genuine banking, exploiting the state of turmoil to achieve private gains at the expense of the banking policy set by the Central Bank.”
He explained that “the Central Bank is required today to implement strict measures and activate serious oversight of banks’ operations, with the aim of securing citizens’ rights and strengthening confidence in the banking system.” He noted that “directing financial revenues solely towards imports is one of the main reasons for the decline and stagnation of banking performance in Iraq.”
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