In 2023… fines from the Iraqi Central Bank on banks and banking companies amounting to approximately 141 billion dinars, 24 JAN

 In 2023… fines from the Iraqi Central Bank on banks and banking companies amounting to approximately 141 billion dinars

Shafaq News/ The Central Bank of Iraq revealed, on Wednesday, that it had imposed financial fines on banks and banking companies exceeding 140 billion dinars during the past year 2023.

A bank table, seen by Shafaq News Agency, showed that the fines imposed on banks and financial companies during the past 12 months amounted to 140 billion, 924 million, 318 thousand and 901 dinars.

He stated that “the fines also included 402 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 million. And 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