International Development Bank rejects US Treasury accusations and confirms financial strength

The International Development Bank for Investment and Finance rejected on Friday the accusations contained in the US Treasury Department statement issued on October 15, 2026, expressing its full readiness to cooperate with the Central Bank of Iraq and US authorities through official and legal channels to address the file. The bank stated in an official release that its management is dealing with this development with the highest levels of responsibility and transparency, stressing that the information and allegations relied upon in the US statement are incorrect, and that providing the opportunity to submit the necessary facts, documents, and clarifications will contribute to correcting the perception and revealing the true position of the institution. The statement added that the bank has been keen throughout its years of operation to build a solid banking entity that contributes to supporting the Iraqi economy, working under the supervision and regulation of the Central Bank of Iraq, while adhering to banking legislation, instructions, and approved compliance standards. The bank reiterated its full readiness to cooperate with the Central Bank of Iraq and the US Treasury, and to work through official and legal channels to address the file, clarify facts, and defend the reputation, standing, and rights of all parties associated with it. Regarding the financial situation, the statement clarified that the recent development is linked to procedures issued by US authorities, stressing the need not to mix the nature of the file with the bank's financial position or its ability to meet its obligations. It noted that the bank enjoys a strong financial position, continues to manage its resources and obligations responsibly, and is taking necessary measures to deal with the operational and regulatory impacts 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, indicating that it is working in coordination with the Central Bank of Iraq and relevant regulatory bodies to ensure the continuity of permitted banking services, managing liquidity and financial obligations in accordance with effective laws and instructions. The bank renewed its confidence in Iraqi state institutions, foremost among them 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 emphasizing the management's commitment to informing clients and partners of any substantial developments through its official channels.