Hantoush: Liberation from dollar restrictions marks a new beginning for the Iraqi banking sector.
Hantoush: Liberation from dollar restrictions marks a new beginning for the Iraqi banking sector.
11-2-2025
Information / Baghdad –
Financial and banking expert Mustafa Hantoush confirmed on Saturday that the Iraqi banking sector is on the verge of a new phase of liberation from dollar restrictions, stressing that this requires comprehensive and fundamental reforms to modernize the banking infrastructure and enhance its efficiency.
Hantoush told the Information Agency that “approximately 90% of the Iraqi banking system remains subject to the restrictions imposed on dollar transactions, due to the problems and suspicions the sector has witnessed in recent periods.” He explained that “recent indicators are positive, and some banks are expected to begin gradually freeing themselves from these restrictions within the next three months.”
He added that “the banking sector still lacks real activity, as it needs to activate the deposit, lending, and investment systems in an integrated manner, along with a review of regulatory standards in coordination with the Central Bank of Iraq.”
Hantoush called for “a shift towards full financial inclusion through diversifying banking services and expanding the customer base, as well as strengthening cooperation with international banks and opening new correspondent channels that enable Iraqi banks to integrate into the global financial system.”
Hantoush concluded by emphasizing that “developing technological systems and streamlining procedures to better serve citizens represent the most important step in the reform process, as they are fundamental to eliminating the bureaucracy that hinders the sector’s progress and limits its competitiveness.”
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