The International Development Bank for Investment and Finance on Friday denied the allegations outlined in a US Department of the Treasury statement issued on October 15, 2026, pledging to address the matter in coordination with the Central Bank of Iraq and relevant US authorities through official and legal channels.
In a statement, the bank said its management was approaching the latest developments with a high degree of responsibility and transparency. It maintained that the information cited by the US Treasury did not accurately reflect the facts, adding that submitting supporting documents and detailed explanations would help clarify its position and correct the record.
The bank noted that, throughout its years of operation, it had worked to establish a reputable financial institution supporting Iraq’s economy while operating under the supervision of the Central Bank of Iraq and complying with applicable banking regulations and recognized compliance standards.
It reiterated its readiness to cooperate with the Central Bank of Iraq and the US Treasury Department through the appropriate legal channels to resolve the matter, protect its reputation and safeguard the rights of all parties involved.
Addressing the potential financial implications of the US measures, the bank stressed the importance of distinguishing the nature of those actions from its overall financial position, saying the developments should not automatically be interpreted as an indication of its ability to meet its obligations.
The statement added that the bank maintains a strong financial position and continues to manage its resources and liabilities responsibly while implementing measures to address any resulting operational and regulatory challenges.
Management also emphasized that protecting depositors and customers remains a key priority. It said coordination with the Central Bank of Iraq and relevant regulatory bodies was ongoing to ensure the continuation of permitted banking services and the proper management of liquidity and financial obligations in line with applicable laws.
The bank further expressed confidence in Iraqi state institutions, particularly the Central Bank of Iraq, and reaffirmed its commitment to working with them to protect depositors’ rights and maintain stability across the country’s banking sector.
The statement concluded by pledging to keep customers and business partners informed of any significant developments through the bank’s official communication channels.
