The Central Bank of Iraq said on Wednesday that, during the course of the previous year 2023, it had fined banks and banking organizations in excess of 140 billion dinars.
According to a bank table that was viewed by, throughout the previous 12 months, banks and financial institutions were fined 140 billion, 924 million, 318 thousand, and 901 dinars.
“The fines also included 402 administrative penalties, distributed between warnings, warnings, and grace periods, for these banks and non-banking institutions,” he said.
The table shows that the highest rate of fines for banks and non-financial institutions occurred in April of last year, totaling 17 billion, 440 million, 383 thousand, and 447 dinars, plus administrative penalties of 17. The lowest rate of fines occurred in November of last year, totaling 8 billion, 337 million. Additionally, there were eight administrative penalties of 645,628 dinars.
The names of the banks that were subject to fines and administrative penalties were not shown in the table.
The Iraqi Stock Exchange Investors Association blasted the Central Bank of Iraq’s hike in bank fines at the beginning of June, pointing out that this would have an impact on investors’ profits in these banks’ shares.
