The International Development Investment and Finance Bank expressed on Friday its outright rejection of the accusations contained in the US Department of the Treasury statement issued on October 15, 2026, while declaring its complete readiness to cooperate with the Central
Bank of Iraq and relevant US authorities through official and legal channels to address the file. The bank management stated in an official release that it is dealing with these developments with the utmost seriousness, responsibility, and transparency, emphasizing that
the information and allegations upon which the US statement was based are incorrect, and that providing the opportunity to present the necessary facts, documents, and clarifications will contribute to correcting the perception and revealing the true standing of the institution.
The bank pointed out that throughout its years of operation, it has been keen to build a robust banking establishment that contributes to supporting the national economy, operating under the supervision and regulation of the Central Bank of Iraq, while
adhering to banking legislation, instructions, and approved compliance standards. The statement reaffirmed the bank's full preparedness to cooperate with the Central Bank of Iraq and the US Department of the Treasury, working through official and legal avenues to address the
file, clarify the facts, and defend the bank's reputation, standing, and the rights of all affiliated parties. Regarding the financial situation, the statement clarified that the recent development is linked to measures issued by the US authorities, stressing the necessity
of not confusing the nature of the file with the bank's financial position or its ability to meet its obligations. It indicated that the bank enjoys a solid financial position and continues to manage its resources and obligations responsibly, while
taking the necessary measures to deal with the operational and regulatory repercussions resulting from the decision. Furthermore, the bank's management reassured depositors and clients that protecting their rights and interests comes at the forefront of its priorities, stating that it
is working in coordination with the Central Bank of Iraq and concerned regulatory bodies to ensure the continuity of permitted banking services and the management of liquidity and financial liabilities according to effective laws and regulations. The bank renewed its
confidence in the Iraqi state institutions, foremost among which is the Central Bank of Iraq, emphasizing its keenness to cooperate with them in a manner that preserves depositors' rights and supports the stability of the Iraqi banking sector. The statement
concluded by stressing the management's commitment to keeping clients and partners informed of any substantive developments through its official channels.
