The Governor of the central bank of Iraq, Ali Al-Alaq, stressed that the Banking Reform report (2025) represents a strategic step to enhance confidence inside the Iraqi banking gadget and cope with shortcomings.
Al-Alaq talked about in a press declaration that “approximately 80% of the Iraqi foreign money is stored outside banks in houses due to vulnerable self assurance within the banking device.”
Al-Alaq defined that “the reform file ambitions to modernize banks in keeping with global standards and attract worldwide partnerships.”
He found out that only 10% of banks expressed reservations approximately the plan, while there are (10) banks under liquidation due to their incapability to go back purchaser deposits.