Central Bank Confirms Banking Sector Stability and Protection of Depositors' Funds

mesoiraq - The Central Bank of Iraq reassured depositors regarding the stability of the banking sector, confirming that placing supervisory committees or guardianship over licensed banks is a precautionary regulatory measure to protect depositors' rights and does not indicate bankruptcy. In an official statement, the bank clarified that all licensed banks are part of the Deposit Insurance Company, which compensates depositors in case of default. The bank stressed that depositors' funds are protected under applicable laws and that the banking system maintains sufficient liquidity, with the ratio of liquid assets to short-term liabilities exceeding 60%, ensuring operational efficiency and compliance with the highest international banking standards.