The Central Bank of Iraq announced on Tuesday that the fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 138 billion Iraqi dinars during the past three months.
A table of the bank, seen by Shafaq News Agency, showed that the fines imposed on banks and financial companies during the past three months, starting from January and until the end of last March, amounted to 138 billion, 377 million, 321 thousand, and 527 dinars, indicating that “the fines It also included 49 administrative penalties for these banks and non-banking institutions, distributed between warnings, warnings, and grace periods.
The table showed that “the month of January witnessed the highest fines on banks and non-financial institutions, as these fines reached 98 billion, 277 million, 722 thousand, and 62 dinars, with administrative penalties amounting to 17 penalties, while the month of March witnessed the lowest fines, amounting to 5 billion and 462.” One million, 451 thousand, and 344 dinars with administrative penalties amounting to 15 penalties.”
The table did not show the names of the banks on which fines and administrative penalties were imposed.
The Association of Investors in the Iraqi Stock Exchange had criticized, in early June, 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
