Will Half of Iraq’s Banks Disappear? Banking Reform Shockwave! 🇮🇶🚨
Iraq’s banking sector is entering one of the most dramatic
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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:
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