The Central Bank of Iraq has announced the auction of Islamic deposit certificates No. ICD839, with a maturity of 7 days. The auction will be executed on Tuesday 27 October 2026, and Islamic banks can participate from the date the announcement was published until the day of execution.
The central bank also announced an auction of CBI bills No. W531, likewise with a 7-day maturity and an interest rate of 5.25%. That auction is scheduled for the same day, Tuesday 27 October 2026.
PARTICIPATION RULES FOR ISLAMIC BANKS
Participation in the Islamic auction is conditional on the size of a bank's private sector deposits in Iraqi dinars, which must exceed a minimum threshold set by the central bank. Subscriptions are also subject to a minimum and a maximum amount.
The deposit data used to determine each bank's volume of private sector dinar deposits is as of 8 October 2026. Banks submitted that data between 11 and 13 October 2026 through the BSRS system.
TERMS OF THE CBI BILLS AUCTION
Traditional banks can participate in the CBI bills auction from the publication date until the auction cut-off time. Both auctions were published in the Central Securities Depository (CSD) system.
For the bills auction, a bank's total private sector deposits must not fall below a set minimum. Subscriptions are likewise bound by a minimum and a maximum amount.
LEGAL BASIS AND RECENT AUCTION RESULTS
Both announcements rest on circular No. 123/34, dated 31 March 2026.
On 18 October 2026 the central bank released the results of Islamic deposit certificate auctions ICD836, ICD178 and ICD614. The same day it published results for bill auctions W529, B361 and D230. It held a further Islamic certificates of deposit auction on 20 October 2026.