International Development Bank Rejects US Treasury Allegations, Pledges Cooperation
The International Development Bank for Investment and Finance on Friday rejected the allegations contained in a statement issued by the US Department of the Treasury on October 15, 2026, affirming its readiness to cooperate with the Central Bank of Iraq and relevant US authorities through official and legal channels to address the matter and clarify the facts.
In a statement, the bank said its management was handling the latest developments with the utmost seriousness, responsibility and transparency. It described the information and allegations cited in the US statement as inaccurate, adding that an opportunity to submit the necessary documents and clarifications would help correct the record and establish the bank’s position.
The bank said it had spent years building a reputable banking institution that contributes to supporting Iraq’s economy, operates under the supervision and oversight of the Central Bank of Iraq, and adheres to applicable banking legislation, regulatory instructions and compliance standards.
Management reaffirmed its full willingness to cooperate with the Central Bank of Iraq and the US Treasury Department through official and legal procedures to address the case, defend the bank’s reputation and standing, and safeguard the rights of all parties concerned.
Regarding its financial position, the bank said the latest developments stem from measures taken by US authorities, stressing that these actions should not be conflated with the bank’s financial condition or its ability to meet its obligations.
According to the statement, the bank maintains a sound financial position and continues to manage its resources and obligations responsibly while taking the necessary measures to address the operational and regulatory implications of the decision.
The bank’s management also reassured depositors and customers that protecting their rights and interests remains a top priority. It said it was coordinating with the Central Bank of Iraq and relevant regulatory authorities to maintain permitted banking services and manage liquidity and financial obligations in accordance with applicable laws and regulations.
The bank reiterated its confidence in Iraqi state institutions, particularly the Central Bank of Iraq, emphasizing its commitment to working with them to protect depositors’ rights and support the stability of Iraq’s banking sector.
The statement concluded by affirming the bank management’s commitment to informing customers and partners of any significant developments through its official communication channels.
