Shafaq News/ The Central Bank of Iraq (CBI) announced, on Sunday, that it imposed more than 249 billion IQD (about $190 million) in fines on banks and non-banking institutions, such as exchange companies, over the past nine months.

Official data showed that penalties on financial institutions from January to the end of September reached 249,889,756,016 IQD. Additionally, 221 administrative sanctions—including warnings, notifications, and grace periods—were issued to various banks and non-banking firms.

The data indicated that January saw the highest level of fines, totaling 98,277,722,062 IQD ($74,997,180), alongside 17 administrative penalties. In contrast, September recorded the lowest, with fines reaching 2,331,465,048 IQD ($1,779,175) and 13 sanctions.

The list did not disclose the names of the fined institutions.

Furthermore, the Association of Investors in the Iraq Stock Exchange recently criticized CBI’s increased penalties, noting potential impacts on the profitability of investors in the affected banks' stocks.