Central Bank of Iraq
The Central Bank of Iraq (CBI) is the central bank of Iraq, responsible for monetary policy, issuing the Iraqi dinar, and overseeing the country's banking system. Headquartered in Baghdad, the bank plays a central role in managing Iraq's foreign currency reserves and dollar auction mechanisms. It has been undergoing reform and modernization, including efforts to strengthen institutional governance and expand digital financial services.
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Proposal would shift frozen Russian assets from Euroclear and Clearstream to a new EU custodian
A proposal presented in Brussels by political commentator Hugo Dixon and co-authors would transfer frozen Russian Central Bank accounts from national depositaries — including Euroclear in Belgium and Clearstream in Luxembourg — onto the balance sheet of a special EU instrument acting as custodian. The mechanism, modelled on the post-Saddam transfer of Iraqi Central Bank accounts, is designed to shield depositaries and Belgium from Russian lawsuits while creating legal and financial groundwork for eventually using the assets in Ukraine's interests. Ukrainian Finance Minister Serhiy Marchenko has publicly backed revisiting the use of frozen Russian assets, citing an acute wartime budget deficit.