Iraq’s banking sector is entering one of the most dramatic link to My FX Buddies Blog reform phases in decades, and experts warn that up to half of Iraq’s private banks may disappear through mergers or exits. This comes as the Central Bank of Iraq (CBI) begins implementing its comprehensive reform roadmap, developed with the global consulting firm Oliver Wyman. The plan aims to rebuild the banking system to meet international standards, strengthen compliance, raise capital levels, and restore public confidence. Wadih al-Hanzal, head of the Association of Iraqi Private Banks, revealed: Arab & Gulf banks want to enter Iraq CBI reforms may force mergers or divestment The number of private banks (≈60) may drop to half ...