Iraq’s banking sector is entering one of the most dramatic link to My FX Buddies Blog reform phases in decades, and experts warn that up to half of Iraq’s private banks may disappear through mergers or exits. This comes as the Central Bank of Iraq (CBI) begins implementing its comprehensive reform roadmap, developed with the global consulting firm Oliver Wyman. The plan aims to rebuild the banking system to meet international standards, strengthen compliance, raise capital levels, and restore public confidence. Wadih al-Hanzal, head of the Association of Iraqi Private Banks, revealed: Arab & Gulf banks want to enter Iraq CBI reforms may force mergers or divestment The number of private banks (≈60) may drop to half or less Weak, non-compliant, or sanction-hit banks may exit completely This aligns with CBI’s official messages emphasizing financial stability, sector restructuring, and transparency.
🔥 What’s Happening Now
If you'd like to Support the channel:
https://cash.app/$tishwash...
https://paypal.me/tishwash...
⚠️ Why Are Banks at Risk?1️⃣ Weak Capital & Poor Performance Many private banks lack adequate capital, provide few real services, and act more like currency intermediaries than lenders. Past failures have created a confidence crisis. Protecting depositor funds is now a direct responsibility of the CBI during mergers or restructures. Some banks face restrictions due to: Weak auditing controls Money laundering risks Dollar-smuggling channels Lack of proper governance These banks must either reform or leave the market. 60+ banks does not mean a healthy sector. Experts say it reflects: Excessive fragmentation Weak capital efficiency Little contribution to real economic activity Merging banks into larger, stronger institutions is the global trend — and Iraq is now moving in that direction. 2️⃣ Depositors Have Lost Trust3️⃣ Compliance Pressure from the US Treasury4️⃣ Fragmentation is Holding Iraq Back ✨ Reset Naturally — Grab the Holiday Helper Plan 🎁 https://buymeacoffee.com/tishwash/e/479454
