Iraq’s banking sector is at a pivotal crossroads.

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With pensioners facing delays, global scrutiny on dollar transactions, and over 80% of money circulating outside banks, the pressure to reform has never been greater.

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In collaboration with global consulting giant Oliver Wyman, Iraq’s Central Bank is leading a comprehensive reform plan from 2025–2028 aimed at:

• Strengthening financial stability

• Supporting non-oil productive sectors

• Expanding financial inclusion

• Transitioning from a cash-based economy to a modern digital economy

Experts warn that success could mean the end of restrictions on dollar transactions, international confidence in Iraqi banks, and new opportunities for sustainable development. But failure could leave the sector stuck in inefficiency, instability, and limited global access.

👉 In this episode, we break down Iraq’s banking reform plan, its challenges, and what it means for the future of the country’s economy and its people.