rafidainscope - The Central Bank of Iraq has reassured depositors regarding the safety and resilience of the banking sector, emphasizing that imposing supervisory or guardianship committees on certain licensed banks does not imply bankruptcy. Instead, these are precautionary and legal
regulatory measures aimed at protecting depositors' rights and ensuring the stability of banking operations. The bank clarified that all licensed banks participate in the Deposit Guarantee Company, which is responsible for compensating depositors should a bank default, confirming that citizens'
funds are fully protected under current laws. Furthermore, the bank noted that the Iraqi banking system maintains sufficient liquidity to manage operations efficiently under potential pressures, with the ratio of liquid assets to short-term liabilities exceeding 60%. The institution remains
committed to applying the best international banking standards to deliver secure and advanced financial services.
