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IRAQ'S CORRUPTION
العربية
The Record

Timeline

This page lists the dated events on the site from 2003 to 2026, in the order in which they happened. Each event comes from one of the site's datasets and leads to its record: the start of a case, a sanction or a ban, a rule issued by the Central Bank, or a change in the legal status of a person or a company.

Each date is given only as precisely as the source gives it. It may be a day, a month or only a year.

The timeline holds 362 dated events: 98 case beginnings, 48 sanctions and enforcement actions, 82 Central Bank rules, 132 changes in the legal status of people and companies and 2 on how the new financial system was set up.

Kind of event
All 362Cases 98Sanctions and enforcement 48Central Bank rules 82Changes in legal status 132Beginnings 2
Period
All years 48From 2010 to 2019 16From 2020 to 2026 32

2012

  1. 31 July 2012Enforcement action
    US Treasury: CISADA sanction (prohibition on US correspondent/payable-through accounts): Elaf Islamic Bank

2013

  1. 17 May 2013Sanction lifted
    US Treasury: Removal of CISADA sanction (delisted from Part 561 List): Elaf Islamic Bank

2016

  1. 8 January 2016Enforcement action
    Central Bank of Iraq: Barred from the foreign-exchange window and from dealing in dollars: Bank Melli Iran (Iraq branch); Parsian Bank (Iraq branch); Islamic Cooperation Bank for Investment (Islamic Regional Cooperation Bank, Iraq branch); plus about 60 exchange ("intermediation") companies, mostly Nineveh/Anbar/Kirkuk, and Al-Nibal Al-Arabia money-transfer co.
  2. 15 May 2016Enforcement action
    Central Bank of Iraq: Barred from dealing in dollars: Selselat Al Thahab (money transfer, Karbala); Al-Wa'eel (money transfer, Baghdad)
  3. 13 December 2016Enforcement action
    OFAC: SDGT designation: Selselat Al Thahab (money exchange); Hanifa Money Exchange Office

2017

  1. 15 June 2017Enforcement action
    OFAC: SDGT designation: Al-Kawthar Money Exchange (Al-Qa'im, Anbar)

2018

  1. 15 May 2018Enforcement action
    OFAC: SDGT designation: Al-Bilad Islamic Bank for Investment and Finance P.S.C.; its Chairman and Chief Executive Aras Habib Kareem
  2. 16 May 2018Enforcement action
    Central Bank of Iraq: Barred from the foreign-exchange window and dealing in dollars: Al-Ataa Islamic Bank (formerly Al-Bilad) for Investment & Finance
  3. 16 October 2018Enforcement action
    OFAC: SDGT designation (all branches worldwide): Parsian Bank (including Iraq branch)
  4. 17 October 2018Enforcement action
    OFAC: SDGT designation: Afaq Dubai (Iraq-based money services business)
  5. 13 November 2018Enforcement action
    OFAC: SDGT designation: Shibl Muhsin 'Ubayd al-Zaydi (and three Hizballah officials)

2019

  1. 15 April 2019Enforcement action
    OFAC: SDGT designation: Al-Ard Al-Jadidah Money Exchange Company
  2. 12 June 2019Enforcement action
    OFAC: SDGT designation: South Wealth Resources Company (Manabea Tharwat al-Janoob); Makki Kazim 'Abd al-Hamid al-Asadi; Muhammad Husayn Salih al-Hasani
  3. 10 September 2019Enforcement action
    OFAC: SDGT designation: Al-Khalidi Exchange; Saksouk Company for Exchange and Money Transfer; Al Haram Foreign Exchange Co.; Al-Hebo Jewelry Company
  4. 30 October 2019Enforcement action
    Central Bank of Iraq: Barred from the foreign-exchange window and dealing in dollars: Noor Iraq Islamic Bank for Investment & Finance
  5. 18 November 2019Enforcement action
    OFAC: SDGT designation: Sahloul Money Exchange Company; Tawasul Company; Al Sultan Money Transfer Company

2020

  1. 2020Enforcement action
    Central Bank of Iraq: Fine (as recorded in the bank's audited statements): Commercial Bank of Iraq
  2. 8 October 2020Enforcement action
    OFAC: Designation under E.O. 13902 (Iran financial sector): Islamic Regional Cooperation Bank (Iraq branch, Baghdad/Al-Masbah)
  3. 29 October 2020Enforcement action
    OFAC: SDN entry update (aliases added): Al-Bilad Islamic Bank, aliases Al-Ataa / Al-Atta Islamic Bank added
  4. 24 December 2020Enforcement action
    Central Bank of Iraq: Barred from the foreign-exchange window and dealing in dollars: Babylon Bank

2022

  1. 3 November 2022Enforcement action
    Central Bank of Iraq (following US Treasury/FRBNY concerns, per media): Barred from the foreign-exchange window and dealing in dollars: Al-Qabidh Islamic Bank; Asia Al-Iraq Islamic Bank; Al-Ansari Islamic Bank; Iraqi Middle East Investment Bank

2023

  1. 19 July 2023Reported in the press
    US Treasury and Federal Reserve Bank of New York (as reported): Bar on dollar transactions (non-public; reported): 14 Iraqi banks (named in the Central Bank's list of 20 July 2023)
  2. 20 July 2023Enforcement action
    Central Bank of Iraq: Barred from the foreign-exchange window and dealing in dollars: Al-Mustashar Islamic; Al-Qurtas Islamic; Al-Taif Islamic; Elaf Islamic; Erbil Bank; International Islamic; Iraq Trans (Trans Iraq) Bank; Mosul Bank; Al-Rajih Islamic; Sumer Commercial; Trust International Islamic; Al-Mal Islamic Investment Bank; World Islamic; Zain Iraq Islamic
  3. 17 November 2023Enforcement action
    OFAC: SDGT designations (context): Kata'ib Hizballah and Kata'ib Sayyid al-Shuhada leaders (6 individuals) and KSS
  4. 11 December 2023Enforcement action
    Central Bank of Iraq: Barred from dealing in dollars: Morooj Maysan; Al Hellow for Exchange (Basra)

2024

  1. 22 January 2024Enforcement action
    OFAC: SDGT designations: Fly Baghdad and CEO Basheer al-Shabbani; Kata'ib Hizballah officials including Awqad al-Hamidawi; Al-Massal Land Travel and Tourism Co. (described by OFAC as a revenue and money-laundering front for Kata'ib Hizballah)
  2. 29 January 2024Enforcement action
    FinCEN (US Treasury): Section 311 finding and NPRM (primary money laundering concern): Al-Huda Bank
  3. 29 January 2024Enforcement action
    OFAC: SDGT designation: Hamad al-Moussawi (owner and president of the board of Al-Huda Bank)
  4. 29 January 2024Enforcement action
    Central Bank of Iraq: Barred from the foreign-exchange window and dealing in dollars: Investment Bank of Iraq; Union Bank of Iraq; Kurdistan International Islamic Bank; Ashur International Bank; Al-Huda Bank; Al-Janoob Islamic Bank; Al-Arabiya Islamic Bank; Hammurabi Commercial Bank
  5. 31 January 2024Enforcement action
    Central Bank of Iraq: Licence revocation: Bank Melli Iran (Iraq branch)
  6. 26 June 2024Enforcement action
    FinCEN (US Treasury): Section 311 final rule (special measure 5): Al-Huda Bank

2025

  1. 16 February 2025Reported in the press
    Central Bank of Iraq (reported by Reuters; Central Bank denied): Reported ban on dollar transactions: Al-Mashreq Al-Arabi Islamic Bank; United Bank for Investment; Al-Sanam (Sinam) Islamic Bank; Misk Islamic Bank; Ameen (Amin) Iraq Islamic Bank; and the payment firms Amwal, Al-Saqi Payment, Aqsa Payment
  2. 3 July 2025Enforcement action
    OFAC: Designation under E.O. 13902 (Iran petroleum sector): Salim Ahmed Said (Iraqi-British) and network including VS Oil Terminal FZE (Khor al-Zubair), VS Tankers FZE, VS Petroleum DMCC, Rhine Shipping DMCC
  3. 30 July 2025Enforcement action
    OFAC: Designation under E.O. 13902: Thamoud Mohammed Muhsin al-Azzawi (Iraqi national, Dubai; linked to G M C G Shipping LLC)
  4. 2 September 2025Enforcement action
    OFAC: Designation under E.O. 13902: Waleed Khaled Hameed al-Samarra'i (Iraqi-Kittitian) network (Babylon-managed vessels; Marshall Islands shells)
  5. 8 September 2025Enforcement action
    Central Bank of Iraq (as stated by KRG Ministry of Finance): Restriction on dollar transactions: International Development Bank (IDB)
  6. 17 September 2025Enforcement action
    US Department of State: FTO designations (context): Harakat al-Nujaba; Kata'ib Sayyid al-Shuhada; Harakat Ansar Allah al-Awfiya; Kata'ib al-Imam Ali
  7. 9 October 2025Enforcement action
    OFAC: SDGT designation: Ali Mohammed Ghulam Hussein Al Anssari ("Ali Ghulam"); Ali Meften Khafeef Al Baidhani; Aqeel Meften Khafeef Al Baidhani
  8. 9 October 2025Enforcement action
    OFAC: SDGT designation: Muhandis General Company for Construction, Engineering, Mechanical, Agricultural and Industrial Contracting; Baladna for Agricultural Investments

2026

  1. 13 January 2026Reported in the press
    Iraqi court (reported); Integrity Commission (asset recovery): Criminal conviction (suspended sentence), as reported: Director (unnamed) of the National Bank of Iraq (المصرف الأهلي العراقي)
  2. 17 April 2026Enforcement action
    OFAC: SDGT designations (context): Seven Kata'ib Hizballah/KSS/AAH/Nujaba commanders
  3. 7 May 2026Enforcement action
    OFAC: Designations under E.O. 13902 and E.O. 13224: Ali Maarij al-Bahadly (Iraq's Deputy Minister of Oil); Mustafa Hashim Lazim al-Behadili (AAH economic official) and 4 companies (Gulf Energy Oil Services; Gulf General Contracting; Iraq International Energy for Import and Sale of Petroleum Products; Gulf Energy for General Transport and Marine Services...); KSS officials
  4. 18 June 2026Enforcement action
    OFAC: SDGT designations: Al Shafa Administrative Services Limited ("HEAL", Baghdad); Wael Costanteen (Baghdad/Lebanon), a network that OFAC links to Hizballah
  5. 18 July 2026Enforcement action
    Central Bank of Iraq / US Treasury (understanding): Partial reinstatement: restricted banks to return to non-dollar correspondent channels; path to dollar eligibility after relicensing: Seven restricted banks (named by an anonymous Central Bank source): Al-Janoob Islamic; International Development Bank; Mosul Bank; Al-Mashreq Al-Arabi Islamic; Investment Bank of Iraq; Kurdistan International (Islamic) Bank; Al-Arabiya Islamic
  6. 5 August 2026Enforcement action
    OFAC: Delisting (removal from SDN list): Fly Baghdad Airlines Company (and aircraft YI-BAF, YI-BAN); CEO al-Shabbani entry amended (remains listed)
  7. September 2026Enforcement action
    Central Bank of Iraq: Guardianship (وصاية) imposed: Al-Taif Islamic Bank
  8. 10 September 2026Enforcement action
    OFAC: Designations under E.O. 13902 and E.O. 13224: Shams & Bahr Trading Company L.L.C. (Dubai hawala) and owners Majid and Abdulhasan Ali Akbar Namdar Al-Mandalawi; PMC procurement (Al-Brouj; Ain Al-Iraq; Abbas al-Tameemi; Abdullah al-Ameri; Khaldoon al-Abada); four Kata'ib Hizballah members
  9. 25 September 2026Enforcement action
    Central Bank of Iraq: Guardianship / liquidation / judicial receivership (status marks on the Central Bank's lists of banks): Guardianship (وصاية): North Bank; Al-Wed (Al-Wifaq) Islamic; Zain Iraq Islamic; Al-Taif Islamic; Bank Melli Iran (Iraq); Parsian (Iraq). Liquidation (تصفية): Babylon Bank; Islamic Cooperation Bank (Iran); MEAB; Fransabank; BankMed; Intercontinental Bank of Lebanon. Judicial receivership (حراسة قضائية): Dar Es Salaam Investment Bank; Dijlah & Furat Islamic.
Download:timeline.csv.xlsxrules_timeline.csv.xlsxenforcement.csv.xlsx