During a discussion with economic specialists, Central Bank of Iraq Governor Nizar Nasser Hussein reiterated that the bank is continuing its banking sector reform program in coordination with Oliver Wyman. The program seeks to build a more efficient and competitive sector and deepen its integration with the international financial system, extending the reform agenda already under implementation. Hussein said the central bank plans to launch new lending initiatives for important and vital projects to stimulate investment, production and private sector activity. He also said most bank deposits are guaranteed and that the central bank would intervene within its powers if a financial or banking institution faced a deficiency or shortfall, using its reserves, financial tools and crisis plans. Currency issued for circulation totals about IQD 107 trillion. Hussein said replacing the currency would help determine the actual amount circulating in the market, but did not announce a specific currency replacement measure or timetable.
2026-09-06Central Bank of Iraq
Central Bank of Iraq governor reiterates banking reform, plans new lending initiatives
Central Bank of Iraq Governor Nizar Nasser Hussein reiterated that banking reform with Oliver Wyman is continuing and aims to strengthen the sector’s links with the international financial system. The central bank plans new lending initiatives to support investment, production and private sector activity. Hussein also said most deposits are guaranteed and put currency issued for circulation at about IQD 107 trillion.