💥 A Banking Disaster: 10 Iraqi Banks Under the Guillotine!
(Highlights – August 13, 2025)
Source: Al-Mustaqillah
⚠️ Key Highlights:
🔻 10 Banks Liquidated:
Iraq’s Central Bank Governor Ali Al-Alaq announced that 10 Iraqi banks are being liquidated after failing to return customer deposits.- 💸 Trust Crisis:
A staggering 80% of Iraqi currency remains outside the banking system, showing deep public distrust in financial institutions. 🇺🇸 U.S. Pressure & Sanctions:
The liquidation isn't just internal reform—it’s happening under heavy U.S. sanctions for illegal financial transfers , choking these banks' operations.📉 Systemic Collapse?:
Only 10% of Iraqi banks are aligned with the Central Bank's 2025 reform plan.
The rest may face closure or collapse, raising alarm about a wider banking crisis.⚖️ Who’s Responsible?
Is this the result of external sanctions or decades of corruption and mismanagement?
Either way, depositors may pay the ultimate price.🏦 “Cruel Selection” Begins:
Iraq’s banking sector now enters a survival phase: modernize or be eliminated.