⚠️ “Foreign Banks Controlling Iraqi Banks: Is the Law Being Broken? 💰”
💥 Key Highlights from Al-Mustaqilla Report (Oct 23, 2025):
Foreign Control Alert: Investigations reveal foreign banks hold stakes in Iraqi banks exceeding legal limits, potentially violating Iraqi law. 🚨
Major Examples:
National Bank of Iraq: Jordan Capital Bank 62%, Cairo Amman 9.9%, Arcadia Fund 5%
Al-Mansour Iraqi Bank: Qatar National Bank 54%
Bank of Baghdad: Kuwait Jordan Bank 52%
Arab Bank of Iraq: Arab Bank of Jordan 63.77%
Iraqi Credit Bank: National Bank of Kuwait 92%
Iraqi Commercial Islamic Bank: Kuwait Finance House 85% 🏦
Implications: High foreign ownership threatens Iraq’s economic sovereignty and limits banks’ ability to make independent decisions. ⚖️
Call to Action: Observers urge review of banking laws, strict oversight, and balance between foreign investment and national financial control. 🔍
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💸 Iraq’s Central Bank Pushes Financial Inclusion for a Sustainable Future 🌍✨
📅 October 23, 2025 – His Excellency Mr. Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq, highlighted that financial inclusion is a cornerstone of sustainable economic and social development. By enabling citizens to access formal financial services, Iraq aims to boost social justice, trust in banks, and economic stability.
🏦 Speaking at the Financial Inclusion Conference at Duhok University, he outlined the National Financial Inclusion Strategy 2025–2029, focused on:
✅ Expanding access to financial services
✅ Empowering women and youth
✅ Transitioning to digital payments
💡 The Central Bank is also investing in digital payment infrastructure, supporting financial innovation, and promoting financial literacy in collaboration with universities.
📊 The conference featured a large exhibition of banking and non-banking institutions, plus deep discussions on the impact of financial inclusion on monetary policy, fiscal policy, and economic growth.
📢 In related news, Global Finance highlighted Iraq’s priority to modernize its underdeveloped banking system, reduce cash dependency, and channel credit toward strategic sectors like agriculture and industry. Efforts include new digital banking regulations and stronger measures against money laundering and illicit flows.
🔗 Read more from the Central Bank: cbi.iq
🔗 British report on Iraq banking reforms: shafaq.com🚀 Key takeaway: Iraq is moving toward a digital, inclusive, and resilient financial future, with the Central Bank leading the charge! 💳🌐
🌐 Read full article: mustaqila.com
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