By John Lee.
[Editor's Note: On 26th February, the Central Bank updated the list of banks restricted from dealing in US dollars, apparently to correct an error, without making a new announcement. The list below has been updated accordingly.]
The Central Bank of Iraq (CBI) has announced updated lists of banks and companies prohibited from dealing in US dollars as part of its ongoing banking sector reform initiative.
Under the reform programme, licensed and supervised Iraqi financial institutions are subject to a rigorous compliance review. Until the process is completed, institutions included on the published lists are barred from participating in the foreign currency sales window or conducting US dollar transactions, whether directly or indirectly.
The CBI clarified that the restrictions do not prevent international audit firms from carrying out auditing work for the listed institutions in support of their compliance with banking reform requirements.
Banks restricted from dealing in US dollars:
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- Iraq Noor Islamic Bank for Investment & Finance
- Babylon Bank
- Al Qabidh Islamic Bank for Finance & Investment
- Asia Al Iraq Islamic Bank for Investment & Finance
- Al Anssari Islamic Bank for Investment and Finance
- Iraqi Middle East Investment Bank
- Al Mustashar Islamic Bank for Investment & Finance
- Al Qurtas Islamic Bank Investment & Finance
- Al Taif Islamic Bank
- Elaf Islamic Bank
- Erbil Bank for Investment & Finance
- International Islamic Bank
- Iraq Trans Bank for Investment
- Mosul Bank for Development and Investment
- Rajih Islamic Bank
- Sumer Commercial Bank
- Trust International Islamic Bank
- Al Mal Islamic Investment Bank
- World Islamic Bank for Investment and Finance
- Zain Iraq Islamic Bank For Investment and Finance
- Investment Bank of Iraq
- Union Bank of Iraq
- Kurdistan International Islamic Bank for Investment & Development
- ASHUR International Bank for Investment
- Al Huda Bank
- Al Janoob Islamic Bank for Investment & Finance
- Arabia Islamic Bank
- Hammurabi Commercial Bank
Blacklisted banks:
- Al Ataa Islamic Bank (ALBilad) for development & investment
- Islamic Cooperation Bank for Investment
- Bank Melli Iran
- Parsian Bank
Other companies restricted from dealing in US dollars:
- Al Qalea
- Baba Gurgur
- Al Akhyar
- Al Laith
- Al Nemoor
- Al Sa'aqh Al-Mutehidah
- Al Shahed Al Asfar
- Tebah
- Afaq Al-Mustaqbal
- Al Mosul
- Um Al Rabiean
- Al Kawthar
- Hilal Al Mosul
- Ibn Al Furat
- Al Dhabiya
- Euyun Al Meha
- Al Haq Al Yaqin
- Al Belal
- Al Mehrab
- Al Baidha'
- Aredh Al Sameer
- Afaq Al Moelam
- Majmuaet Dimashq
- Al Bera'
- Al Darej
- Ardh Al Firdoos (Al-Yassemin previously)
- Al Khaima
- Al Fateh
- Al Messdar
- Al Wareq
- Al Dhuha
- Al Nawaeir
- Al-Nawfal
- Al Ardh Al Jadida
- Al Khauatem
- Halab
- Dubai Al Dualiya (Sinjar previously)
- Al Bareh
- Al Donia
- Janat Al Andouls
- Al Sahra'
- Al Khdra'
- Al Shahba'
- Al Arabia
- Al Samir
- Al Mazin
- Al Ahram
- Al Amel
- Zahrat Al Rabie
- Diar Mecca
- Al Shye
- Al Jamiea
- Al Sharq Al Adna
- Tadmur
- Al Momtaz
- Al Doea'
- Al Rimah
- Burj Al Fanar
- Amman
- Kirkuk
- Al Harith
- Al Sa'ah
- Al Asdiqa'
- Al Ba'n
- Rauet Al Beaj
- Al Alwan
- Dijlah wa Al Furat
- Al Waeel
- Al Hedba'
- Morooj Maysan
- Al Hellow For Exchange
- Selselat Al Thahab
- Al Nibal Al Arabia
- Al Nahr Al Khalid
- Al Wa'eel
These lists are provided in good faith for general information only. While every effort has been made to ensure accuracy, Iraq Business News accepts no responsibility for any errors, omissions, or misinterpretations.
The original CBI files and company codes are available here and here.
(Source: CBI)
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