The Central Bank of Iraq announced on Wednesday the imposition of administrative guardianship over Al-Taif Islamic Bank for Investment and Finance. This measure comes under a decision issued by the Central Bank's Board of Directors, numbered (130) for the year
2026, and in accordance with the provisions of Article (59) of the Banking Law No. (94) of 2004 (as amended). The Central Bank justified its decision by confirming the existence of serious violations that negatively impacted the bank's financial position
and depositors' funds. The decision also included the appointment of Emad Mohammed Hamad as a guardian for the bank for a period of eighteen months.
