On Tuesday, the National Bank of Iraq (CBI) declared that fines forced on banks and non-bank monetary organizations, including trade organizations, added up to 181,842,854,458 IQD ($138,284,000)over the beyond a half year.
As per a report by the bank, 151 managerial punishments were given to these foundations, which included admonitions, notification, and expansions, without indicating their names.
According to the report, the month of January saw the highest number of fines, totaling 98,277,722,062 IQD and 17 administrative penalties. In contrast, the month of June saw the fewest fines, with 30 administrative penalties totaling 2,829,157,288 IQD.
The Iraqi Protections Market Financial backers Affiliation has scrutinized CBI’s choice to increment fines on banks, contending that it could adversely affect the productivity of financial backers in these banks’ portions.