The new headquarters of the Central bank of Iraq (CBI). Photo: Zaha Hadid Architects
Baghdad (IraqiNews.com) — The Federal Commission of Integrity and specialized judicial oversight bodies have launched a comprehensive financial audit and investigative probe into liquidity depletion, high-value commercial loans, and discretionary financing waivers across Iraq’s state-owned banking sector on Saturday, September 5, 2026.
The investigation centers on operational practices at Rafidain Bank and Rasheed Bank—the country’s two dominant state lenders—examining major credit facilities exceeding 1 billion IQD (approximately $763,000) granted through non-standard channels or exceptional exemptions.
According to sources close to the regulatory authorities, forensic teams are cross-referencing credit files against statutory central bank lending guidelines to determine civil and administrative culpability:
The timing of the banking probe reflects wider liquidity strains on the Iraqi treasury, where public compensation and social welfare spending average over 7.4 trillion IQD monthly: