Central Bank of Iceland (CBI)

The Central Bank of Iraq issued this 2026 guide to establish a standardized identification framework for shell companies, mandating a risk-based approach and enhanced due diligence (EDD) across financial institutions. It requires compliance officers to apply the RACI accountability model, monitor specific red flags (such as rapid fund movement and complex ownership structures), and file timely Suspicious Transaction/Activity Reports (STR/SAR). The guide provides a comprehensive checklist and procedural steps to ensure consistent regulatory compliance, robust record-keeping, and effective mitigation of money laundering and terrorist financing risks.

The Central Bank of Iraq issued this revised guide to standardize and publish the official fee schedule for all banking transactions processed through its core payment, clearing, and settlement systems. The document mandates that licensed financial institutions, payment service providers, and designated clearing houses apply fixed fees for Real-Time Gross Settlement (RTGS), Automated Clearing House (C-ACH), Automated Ledger Fee (ALF) services, and Central Securities Depository (CSD) operations. It establishes tiered pricing based on transaction type, currency, and processing speed, while granting the regulator authority to adjust rates via subsequent circulars to ensure market stability and operational efficiency.

The Central Bank of Iraq (CBI) issued this mandatory 2025 guide to establish comprehensive Environmental, Social and Corporate Governance (ESG) standards for all Iraqi banks. It requires the formation of an ESG & Sustainability Committee, mandates robust board composition with independent and climate-skilled members, and enforces strict reporting, disclosure, and risk management frameworks aligned with international benchmarks. The guide ensures banks systematically integrate ESG considerations into their strategies, operations, and stakeholder relations to safeguard depositor funds and achieve long-term financial sustainability.

The Central Bank of Iraq issues this 2021 technical leaflet detailing the enhanced security features and tactile design elements of its circulating banknotes. The notes incorporate advanced authentication markers, including embedded threads, fluorescent inks, and denomination-specific tactile bars for visually impaired users. All denominations will circulate alongside older notes without withdrawal, while the strict legal requirement to surrender counterfeit currency remains enforced.

The Central Bank of Iraq’s Statistics and Research Department issued this guidance manual to standardize the Iraqi Balance of Payments reporting in alignment with the IMF’s sixth edition. It mandates precise classification and recording of current, capital, primary, and secondary income flows across government, private sector, and household transactions. The framework requires institutions to categorize trade, services, investment returns, and transfers using standardized FOB/CIF valuations and hierarchical coding to ensure consistent macroeconomic data compilation.

The Central Bank of Iraq issued a mandatory 2024 ESG Standards Guide requiring all supervised banks to establish an ESG and Sustainability Committee, integrate environmental, social, and governance risks into their strategies, and report compliance annually through qualified teams. The framework mandates specific board composition—including independent members with climate and technology expertise—and enforces strict suitability, conflict-of-interest, and transparency rules for directors and executive management. By aligning with international standards like IFC, OECD, and BCBS, the guide ensures systemically important domestic banks meet stricter requirements while protecting depositors, shareholders, and stakeholders through enhanced governance and sustainable financing practices.

The Central Bank of Iraq mandates all supervised entities to conduct structured, Risk-Based Approach (RBA) aligned self-assessments of money laundering and terrorist financing risks, covering inherent risk identification, control evaluation, and residual risk determination. Entities must implement robust Know Your Customer (KYC) procedures, maintain continuous monitoring and internal audits, and submit documented annual reports to the CBI in accordance with prescribed formats. This guideline aligns with FATF recommendations, the National Risk Assessment (NRA), UN Security Council resolutions, EU regulations, and OFAC sanctions, with non-compliance subject to supervisory actions and disciplinary penalties from the date of issuance.

The Central Bank of Iraq issued this 2024 guidance document to establish a comprehensive regulatory framework for combating fraud and corruption across all licensed banking institutions. It mandates the implementation of robust risk assessment, internal control, and compliance functions, while requiring periodic reporting, whistleblower mechanisms, and continuous staff training. The guidance further defines supervisory oversight procedures, enforcement sanctions for non-compliance, and standardized reporting templates to ensure financial integrity and operational transparency.

The Central Bank of Iraq issued the Financial Sustainability Guide 2021 to mandate licensed banks to systematically integrate environmental, social, and governance (ESG) principles into their strategic planning, risk management, and product development. The guide requires banks to establish comprehensive sustainability reporting frameworks that track economic, social, and environmental performance against defined targets, while aligning financing portfolios with sustainable business criteria. Furthermore, it establishes a structured disclosure mechanism to enhance transparency, stakeholder engagement, and long-term competitiveness through standardized ESG metrics and regulatory performance scoring.

The regulatory authority mandates licensed financial institutions to systematically identify and verify ultimate beneficial owners (UBOs) across all client relationships, ensuring accurate record-keeping and timely disclosure. The guideline establishes clear definitions, control mechanisms, and ownership structures while outlining specific procedures for natural persons, legal entities, trusts, and non-profit organizations. Non-compliance triggers regulatory sanctions, including account suspensions, transaction restrictions, and administrative penalties, thereby strengthening anti-money laundering (AML) and counter-terrorist financing (CFT) frameworks.

The Central Bank of Iraq’s Banking Supervision Department, Islamic Banks Division, issued the 2020 Islamic Banking and Financial Terminology Guide to standardize definitions across Murabaha, Ijarah, Musharaka, and Mudaraba contracts. The document mandates precise classification of transaction types, profit-sharing ratios, risk allocation mechanisms, and ownership transfer methods to ensure Sharia compliance and operational consistency. It establishes binding definitions for financial obligations, facility structures, and asset management practices that Islamic banks must apply in customer financing and investment operations.

The Central Bank of Iraq’s Banking Supervision Department issued the 2020 Islamic Banking Services Guide to standardize regulatory compliance, operational frameworks, and Sharia principles across Iraqi financial institutions. The document mandates adherence to international standards set by AAOIFI, IFSB, and CIBAFI while detailing specific requirements for Murabaha, Ijarah, Salam, Istisna’, and sales contracts. It establishes clear reporting obligations, risk management protocols, and accounting treatments to ensure transparency and alignment with national economic policies.

The Iraqi Private Banks League and the Central Bank of Iraq issued this 2020 handbook to equip youth and entrepreneurs with essential financial and banking knowledge for establishing and sustaining small businesses. It mandates the adoption of sound corporate governance, accurate economic feasibility studies, and structured financial planning to optimize capital allocation, secure appropriate financing, and mitigate liquidity risks. Furthermore, it requires business owners to maintain transparent financial statements, comply with tax obligations, and implement fraud prevention measures to ensure long-term operational viability in the Iraqi market.

The Central Bank of Iraq mandates that licensed electronic payment service providers monitor, record, and report fifteen specific suspicious transaction indicators across the Placement, Layering, and Integration stages of fund movement. The guideline requires institutions to align their monitoring frameworks with the Anti-Money Laundering and Counter-Terrorist Financing Law No. (39) of 2015, focusing on transaction patterns, customer profiles, and high-risk jurisdictions. Providers must utilize designated reporting channels and conduct periodic reviews to ensure continuous compliance with evolving electronic payment typologies.

The Central Bank of Iraq issued this frequently asked questions list to clarify corporate governance requirements for banking sector boards and staff. It mandates that independent board members alone may hold credit up to 5% of bank capital, requires principal shareholding calculations between a defined minimum and maximum threshold, and restricts the Company Secretary position to dedicated non-board appointees. Additionally, it clarifies that Sharia Supervision Board independence extends beyond executive management to include non-independent board members, ensuring alignment with international best practices.

The Central Bank of Iraq, Basra Branch, issued this 2019 guide to standardize and clarify banking services across the Southern Region (Basra, Dhi Qar, Muthanna, and Maysan). It mandates detailed procedures, documentation, and eligibility criteria for individuals and corporations seeking savings, current, deposit, loan, transfer, and electronic payment services. The guide establishes regulatory frameworks for letters of guarantee, documentary credits, Islamic finance products, and digital banking channels to enhance financial inclusion and operational transparency.

The Central Bank of Iraq issued the 2018 Corporate Governance Guide for Banks to mandate comprehensive governance frameworks, board composition rules, and Sharia compliance mechanisms across all Iraqi commercial and Islamic banks. The directive requires licensed institutions to establish dedicated governance committees, maintain independent boards with strict qualification and independence criteria, implement robust risk management and internal control systems, and ensure transparent disclosure to depositors, shareholders, and regulators. It further standardizes executive management accountability, succession planning, and stakeholder protection by aligning domestic banking operations with international best practices from the IFC, OECD, Basel Committee, AAOIFI, and IFSB.

The Central Bank of Iraq, referencing the World Bank's 2017 publication, outlines comprehensive financial consumer protection guidelines and survey results that mandate robust regulatory frameworks, digital adaptation, and practical enforcement mechanisms to safeguard consumers across diverse financial service providers. The 2017 FICP survey of 141 jurisdictions demonstrates widespread adoption of non-bank electronic money regulations, national financial inclusion strategies, and dedicated consumer protection units to ensure fair treatment, transparency, and accessible dispute resolution. These findings require policymakers to align legal frameworks with emerging digital risks, integrate behavioral insights into disclosure and product suitability rules, and implement simplified due diligence procedures to drive inclusive economic growth.

The Central Bank of Iraq has issued an operating manual establishing a Sharia-compliant framework for Islamic Certificates of Deposit (ICDs) on the Murabaha model to manage liquidity and invest excess banking funds. The manual mandates a structured seven-phase electronic auction process wherein the Central Bank purchases commodities from authorized Islamic banks, sells them to commercial intermediaries, and settles fixed profit margins upon maturity. It further enforces strict Sharia audit procedures to guarantee commodity validity, penalty-free execution, and clear margin definitions throughout the trading lifecycle.

The Central Bank of Iraq issued the 2023 Consumer Protection Guide to establish binding standards and practices that safeguard consumer rights in banking services. The framework mandates enhanced disclosure, transparency, and product suitability to ensure consumers receive appropriate financial services based on sound decision-making. It further requires banks to align their national operational practices with regulatory stability objectives by proactively addressing current and future consumer needs while mitigating improper service delivery.

The Regulatory Authority has issued this regulation to standardize and oversee the operations of licensed financial transformation companies and exchange companies. It mandates real-time transaction reporting, strict compliance with anti-money laundering and counter-financing of terrorism frameworks, and the appointment of qualified compliance officers. Non-compliance with reporting deadlines, capital adequacy, or transaction limits triggers administrative fines, license suspensions, or revocation, ensuring robust market integrity and consumer protection.

The Executive Council has issued this Regulation to establish a comprehensive compliance framework for specified non-financial businesses and professions, mandating customer due diligence, enhanced risk-based measures, and robust record-keeping. It requires designated entities to appoint qualified compliance officers, submit timely suspicious transaction reports, and maintain internal controls aligned with international anti-money laundering standards. The Regulation imposes administrative and criminal penalties for non-compliance, sets a twelve-month transitional alignment period, and takes immediate effect upon publication in the Official Gazette.

The regulatory Authority issued this framework to standardize insurance transactions, licensing procedures, and operational compliance for all licensed entities. It mandates detailed application submissions, fee structures, reporting timelines, and enforcement mechanisms to ensure market stability and consumer protection. The regulation establishes clear penalties for non-compliance, outlines appeal processes, and defines the operational scope for insurance providers.

The Regulatory Authority has issued this comprehensive framework to standardize and oversee all securities transactions within the jurisdiction. It mandates licensing, capital adequacy, real-time trade reporting, and robust risk management for all market participants. The regulation also establishes clear compliance procedures, enforcement mechanisms, and a transition period to ensure seamless operational alignment.

The Central Bank of Saudi Arabia (SAMA) has issued comprehensive regulations governing the financial transactions, account management, and regulatory compliance of non-profit organizations (NPOs) operating within the Kingdom. The framework mandates dedicated banking accounts, strict documentation of donations and cross-border transfers, and mandatory quarterly reporting alongside annual audited financial statements. SAMA retains full supervisory authority to conduct inspections, enforce anti-money laundering and counter-financing of terrorism standards, and impose corrective measures or penalties on non-compliant entities.

The Central Bank of Jordan issued this regulatory framework to standardize and oversee all banking transactions, establishing mandatory capital adequacy, risk management, and reporting obligations for licensed financial institutions. The regulations define operational scope, consumer protection standards, and digital banking compliance while integrating amendments from 1987 through recent updates to ensure financial stability. All provisions take effect upon official publication, requiring a 90-day transitional period for existing entities to align with updated capital and reporting requirements.

The regulatory authority issued this 2016 guideline to standardize and enforce the reporting obligations of financial institutions and specified non-financial businesses and professions regarding suspicious transactions. It mandates continuous monitoring, accurate completion of the designated reporting form, and timely electronic or physical submission while ensuring confidentiality and liability protection for good-faith reports. Non-compliance triggers administrative fines, license suspensions, or legal penalties, with senior management held accountable for internal policy alignment and record-keeping.