By John Lee.
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:
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
International Development Bank for Investment & Finance
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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