Al-Mustaqilla Reveals: 30 Iraqi Banks No Longer Deal In Dollars!
Al-Mustaqilla publishes the full list: Banks banned from receiving dollars by order of the Central Bank.
July 7, 2025 Last updated: July 7, 2025 Al-Mustaqilla/- Al-Mustaqilla today obtained an updated list of licensed private banks in Iraq that have been banned from dealing in dollars by the Central Bank of Iraq.
This decision comes amidst uncertainty and the lack of official confirmation of the precise reasons that prompted the bank to ban these banks from dollar trading.
It is speculated that these banks are linked to US sanctions and other financial oversight concerns.
Banks prohibited from dealing in dollars
According to the official website of the Central Bank of Iraq,
the list included the following banks:
Middle East Iraqi Investment Bank
Iraqi investment
Dar Al Salam Investment
Babylon consumption
Sumer Commercial
Mosul Development and Investment
Iraqi Federation
Ashur International Investment
Across Iraq for Investment
Guidance
Erbil Investment and Finance
Hammurabi’s Commercial Code
Elaph Islamic
Kurdistan International Islamic Investment and Development
Islamic Cooperation for Investment (under liquidation, prohibited from dealing in dollars)
Islamic Giving for Investment and Finance
Islamic Investment and Finance Advisor
Islamic World Investment and Finance
South Islamic Investment and Finance
Islamic Arabic
Noor Al Iraq Islamic Investment and Finance
Zain Iraq Islamic Investment and Finance
International Islamic
Islamic Finance Holding Company
Al Ansari Islamic Investment and Finance
International Islamic Trust
Al Rajhi Islamic
Islamic Paper for Investment and Finance
Asia Iraq Islamic Investment and Finance
Islamic Spectrum for Investment and Finance
Islamic money for investment
Possible reasons for ban
To date, the Central Bank of Iraq has not issued an official statement detailing the reasons for banning these banks from dealing in dollars.
However, financial sources and banking sector observers point to the possibility of a link between this decision and US or international sanctions on some of these institutions,
in addition to potential violations related to: money launderingsmuggling hard currency illegal transfers
Failure to comply with financial compliance and banking oversight standards
The repercussions of the decision on the Iraqi economy
This ban comes at a time when the Iraqi economy is suffering from several pressures, including the decline in the value of the Iraqi dinar and fluctuating dollar prices in the local market, which could lead to: The complexity of transactions for companies and individuals dealing with these banks.
Increased demand on the black market for dollar exchange, with the accompanying financial risks. Undermining confidence in the local banking system, especially among private banks facing the threat of sanctions.
Calls for more transparency
Economists believe the Central Bank of Iraq should issue a transparent statement explaining the true reasons behind these decisions, along with a clear plan to address the financial issues related to the banks in question.
Some MPs have also called for the formation of a parliamentary investigation committee to monitor the violating banks and ensure the protection of citizens’ funds.
in conclusion
All eyes are on the Central Bank of Iraq‘s next steps regarding banks banned from dealing in dollars.
Will additional sanctions be imposed, or are these merely temporary measures to regulate the market and improve financial oversight? What impact will this have on the stability of the banking system and the Iraqi economy in general?
https://mustaqila.com/المستقلة-تكشف-30-مصرفًا-عراقيًا-خارج-ال/
Inflation In Iraq Has Declined And Its Gold Reserves Have Increased. Expert Explains
Time: 2025/07/07 21:23:08 Read: 825 times {economic: Al-Furat News} Iraq recorded a noticeable decline in the inflation rate in conjunction with the rise in its gold reserves during the first quarter of 2025, in financial and monetary indicators described as positive despite the challenges posed by oil price fluctuations.
Financial expert Salah Nouri explained in a statement to {Al-Furat News} that:
“The decline in the inflation rate is due to a group of factors, most notably the policy of the Central Bank of Iraq in controlling the supply of cash for circulation, in addition to regulating borrowing to finance the private sector at limited rates that contribute to revitalizing the economy without causing a cash surplus”.
He added, “The decline in global commodity prices had a direct impact, given Iraq’s heavy reliance on imports to meet its needs for goods and merchandise, which was reflected in a reduction in local price levels.”
As for the increase in gold reserves, the expert attributed it to the Central Bank‘s policy of diversifying investment instruments by balancing debt securities in dollars with the purchase of gold, which is a safe store of value.
According to him He stressed that “these policies aim to support and enhance the Central Bank’s reserves within its monetary policy orientations.”
In the same context, Nouri warned of
“the negative effects of the decline in the prices of exported oil,
which came as a result of OPEC Plus’ decisions to increase production,
which may reflect negatively on the state’s general revenues and
thus on the implementation of the operational and investment budget items”.
He pointed out that “the Federal Ministry of Finance has two options in light of this decline: either reduce spending to maintain the deficit rate specified in the budget, or continue spending and increase the deficit, which will force the government to resort to internal borrowing”.
The expert said, “This challenge is directly related to fiscal policy, which requires a careful balance between spending and revenues.”
According to an official report issued by the Central Bank of Iraq, the
Iraqi economy witnessed significant shifts in monetary indicators during the first quarter of 2025.
Inflation fell by 21%, while money transfers abroad fell by 0.6%, indicating a relative improvement in the monetary balance and liquidity control.
The report, which covered the months of January, February and March, also showed a significant increase in the value of Iraq‘s gold reserves, rising from 17.8 trillion dinars to 21.2 trillion dinars, reflecting the Central Bank‘s reliance on a policy of diversifying assets and enhancing safe havens to protect cash reserves in light of global market fluctuations.
https://alforatnews.iq/news/تراجع-نسبة-التضخم-في-العراق-وارتفاع-احتياطه-من-الذهب-خبير-يوضح
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