Protests at Arab Bank Over Withdrawal Halt
Several cities in Iraq witnessed protests by depositors and employees outside branches of the Al-Tayif Islamic Bank after the bank's services had been halted for about a month. Customers were affected by the disruption of bank cards and the electronic application, limiting their ability to withdraw their funds and conduct financial transactions. This coincided with the Iraqi Central Bank's decision to impose guardianship on the bank and appoint a trustee to manage its affairs, aiming to reorganize operations. The bank emphasized that depositors' funds are protected by law and that these measures do not mean the bank's bankruptcy. Despite these reassurances, the protesters demanded a swift solution that would allow them access to their money and the resumption of banking services. Meanwhile, the guardianship committee officially announced that it had taken over its duties, and efforts are underway to transfer the customers' funds soon.
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