130 billion dinars in fines from the Central Bank of Iraq on banks and exchange companies, 27 DEC

 130 billion dinars in fines from the Central Bank of Iraq on banks and exchange companies, 27 DEC

Shafaq News/ The Central Bank of Iraq announced, on Wednesday, that it had imposed fines on banks and exchange companies exceeding 127 billion Iraqi dinars during the past 11 months.

A table of the bank, seen by Shafaq News Agency, showed that the fines imposed on banks and financial companies during the past 11 months, starting from last January and until last November, amounted to 127 billion and 337 million and 645 thousand and 628 dinars.

He stated that “the fines also included 386 administrative penalties for these banks and non-banking institutions, distributed between warnings, warnings, and grace periods.”

According to the table, “last April witnessed the highest rate of fines for banks and non-financial institutions, amounting to 17 billion, 440 million, 383 thousand and 447 dinars, with administrative penalties amounting to 17 penalties, while last November witnessed the lowest rate of fines, amounting to 8 billion, 337.” One million 645 thousand and 628 dinars with 8 administrative penalties.”

The table did not show the names of the banks on which fines and administrative penalties were imposed.

In early June, the Iraqi Stock Exchange Investors Association criticized the Central Bank of Iraq’s increase in fines on banks, noting that it would affect the profitability of investors in the shares of these banks.

shafaq.com