The Central Bank of Iraq: We are proceeding with reforming the banking sector and call for reliance on official sources.

[RJG]

The Central Bank of Iraq: We are proceeding with reforming the banking sector and call for reliance on official sources.

 Banknotes

  

May 12, 2026

 

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The Central Bank of Iraq affirmed its continued implementation of the banking sector reform program, as part of its strategic vision to strengthen the financial system and enhance the efficiency of banking institutions in accordance with best practices and international standards.
In an official statement, the bank explained that Iraqi banks are continuing to work towards fulfilling the requirements of the second phase of the reform program, which focuses on raising compliance and governance levels, enhancing transparency, and improving institutional performance. This contributes to supporting financial stability and strengthening confidence in the banking sector.
The Central Bank also noted its ongoing efforts to support banks whose access to external transfer channels has been restricted, enabling them to meet the approved regulatory requirements and standards.
It stated that the bank is currently in the process of contracting with an independent and specialized auditing firm to conduct the final evaluation of banks that have met the criteria of the first phase of the reform program. This evaluation will ensure their compliance with external transfer requirements and relevant international standards.
The statement added that these measures aim to allow compliant banks to regain access to foreign currency transfer channels, including the euro, the UAE dirham, the Chinese yuan, and other approved international currencies.
The Central Bank of Iraq affirmed that these steps are part of a comprehensive reform program aimed at strengthening the soundness of the banking sector and consolidating confidence in it, thereby serving the interests of the national economy and supporting the integration of the Iraqi banking sector into the global financial system.
Regarding information circulating in the media and on social media platforms, the Central Bank of Iraq stressed the necessity of relying exclusively on official Central Bank of Iraq channels for news and information related to the banking reform program, namely its official website and verified social media accounts, while avoiding reliance on unofficial or unreliable sources.
The Central Bank of Iraq reiterated its commitment to continuing the implementation of the banking reform program with full transparency, in order to achieve its aspirations for developing the banking sector and enhancing its presence and integration into the global financial system.

 

Central Bank of Iraq - 
Media Office

https://cbi.iq/news/view/3200

[screwball]

3 hours ago, RJG said:

The Central Bank of Iraq reiterated its commitment to continuing the implementation of the banking reform program with full transparency, in order to achieve its aspirations for developing the banking sector and enhancing its presence and integration into the global financial system.

 

[southbeach]

Global Financial System.  Stay in faith.

[Laid Back]

They have been reforming the banking system since Shabibi was the Governor of the CBI ( 2003-2012). More than 20 years ago.

 

The never ending story…… Tired and frustrated with this investment 

[JonnyV]

I agree with you LB.  That’s their culture. Lies & deception to steal from their own.  Unfortunately to the point of destruction.  A lot of it is Maliki and they just need to get rid of him.  He is the snake whose head needs to be cut off.  Hate to say that but once that’s done, it will all fall into place.  

I understand they have Iranian militias inside the country but Maliki is a start.  The country he is loyal to is falling apart.  

[Bama Girl]

They have been reforming the banking system since Shabibi was the Governor of the CBI ( 2003-2012). More than 20 years ago.

 

The never ending story…… Tired and frustrated with this investment 

 

Exactly LB. It’s all baloney and I don’t care how informed some may appear to be, that area is a hell hole and it’s not smart to believe any dang thing that comes out of it. 

[hspotman]

And just curious....why does...or I mean does everyone feel that these 'banking reforms' are meant to be what we all have been waiting decades for?

[southbeach]

7 hours ago, Bama Girl said:

 

They have been reforming the banking system since Shabibi was the Governor of the CBI ( 2003-2012). More than 20 years ago.

 

The never ending story…… Tired and frustrated with this investment 

 

Exactly LB. It’s all baloney and I don’t care how informed some may appear to be, that area is a hell hole and it’s not smart to believe any dang thing that comes out of it. 

Exactly correct.  Only the Lord God can/will make this happen.  

[Half Crazy Runner]

2 hours ago, southbeach said:

Exactly correct.  Only the Lord God can/will make this happen.  

True! 🙏🏻