Swisher1776: IQD Revaluation, Banks are Ready
Swisher1776: IQD Revaluation, Banks are Ready
1-13-2025
IQD RV: BANKS ARE READY. ANCHOR BANKS ALIGNED UNDER MOF AND CBI
The Ministry of Finance has formally listed Iraq’s state banks under a single “Banks” tab, confirming centralized oversight and coordinated reform.
Rafidain Bank is now clearly positioned as the lead institution.
The bank is operating under Central Bank of Iraq requirements, has adopted modern electronic banking systems, and is aligned with global banking standards. In 2025, Rafidain entered a three year professional partnership with the US firm K2 Integrity to strengthen governance, compliance, and financial integrity. The bank has also completed settlement of 87 percent of its external debt, including international claims.
Rasheed Bank is aligned alongside Rafidain and historically moves in parallel, particularly in government accounts, salary payments, and trade finance.
The Agricultural Bank and Industrial Bank are development banks. They do not set rates but operate under the national monetary framework, meaning alignment of systems and compliance is what matters, not pricing leadership.
The Real Estate Bank is domestically focused on housing finance and long term lending. Its role depends on currency stability rather than foreign exchange exposure.
Al Nahrain Islamic Bank operates under Islamic finance principles but remains fully integrated into national payment, compliance, and settlement systems.
This structure shows that Iraq’s banking system is being aligned hierarchically. Anchor banks first, development and specialty banks aligned operationally, all under centralized Ministry of Finance oversight and Central Bank standards.
This is not cosmetic. This is infrastructure.
Banks do not lead a rate change. Banks must be ready to receive the rate change. THEY ARE READY.
