On Thursday morning, a group of banking company owners held a protest in front of the Central Bank of Iraq in Baghdad. They were demanding the lifting of penalties imposed upon them due to financial transactions that violated the law. Dozens of people participated in the demonstration.
A group of approximately 80 banking company owners gathered in front of the Central Bank building on Al-Rashid Street. They demanded that the administration lift administrative and financial penalties imposed on them.
The Central Bank of Iraq reported in late September that banks and non-banking institutions, including exchange companies, were fined over 90 billion Iraqi dinars during the first eight months of 2023.
The Central Bank of Iraq’s increase in fines on banks drew criticism from the Association of Investors in the Iraqi Stock Exchange for negatively impacting investors’ profitability in these banks.
On Monday, January 19th, the Central Bank of Iraq announced a package of decisions aimed at returning the foreign currency market to its normal state following a recent increase in market activity.
