The Central Bank reassures depositors and confirms the protection of their funds.
The Central Bank reassures depositors and confirms the protection of their funds.
9-5-2026
The Central Bank of Iraq confirmed on Saturday that all depositors’ funds in licensed banks are protected, while noting that the Iraqi banking system enjoys sufficient liquidity to manage its operations efficiently. The bank stated in a statement that “the Central Bank of Iraq’s application of its powers to impose supervisory or trusteeship committees on one of the banks licensed by it directly (does not mean the bank’s bankruptcy) as has been circulated in some media outlets, but rather it is a legal precautionary supervisory measure to ensure the safety of the bank and the stability of its operations in general and to protect the rights of depositors in particular.”
He added that “the Central Bank of Iraq applies the best international banking standards to the banking sector to ensure its safety, compliance and provision of the best financial services without compromising the rights of its depositors.”
He explained that “all licensed banks are participating in the Deposit Guarantee Company, which is one of the pillars of banking stability, through its function of compensating depositors in the event that the bank fails to meet this in accordance with the applicable laws.”
The bank added that “depositors’ funds are protected under applicable laws, regulations and instructions, and the Central Bank of Iraq pays great attention to monitoring the procedures of banks, especially those related to ensuring that depositors can access their funds at any time they wish without delay.”
The bank confirmed that “the Iraqi banking system has sufficient liquidity to manage its operations efficiently and under any potential pressures; the ratio of liquid assets to short-term liabilities is more than (60%).”
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