The Baghdad court of money laundering and economic crime has announced that Iraqi private banks should pay 10 billion Iraqi dinars per month as fines and interest to the CBI to manage integrity.
A press statement issued by the judicial authority that Judge Radhi Fartusi said that Iraqi Central Bank has already submitted a large number of cases against at least 28 banks involved in falling into the limits defined in the law and these cases were disclosed by the Office of the Financial Supervision. He further added that these banks are involved in increasing the U.S dollar price in the domestic markets.
Fartusi also added that these banks took more benefits by delaying in the payments of amounts that are reached at more than 46 billion Iraqi dinars and it is considered more than a Boost. He said that remaining amount will be collected from fines, which is estimated at least 191 billion and 551 million Iraqi dinars. He pointed out that Iraqi private banks are committed by the Iraqi Central Bank’s decision as the time frame was expired in the month of January. He added that restoration of these amounts will be monitored by the President of the Iraqi Federal Judiciary Judge, Medhat Al Mahmoud and the concerning authority.