Iraq Appoints First Woman Deputy Central Bank Governor

The Iraqi government has appointed Shaimaa Abbas Huwairf as the Deputy Governor of the Central Bank of Iraq (CBI) for the first time in the history of the bank. The appointment comes at an important moment for the representation of the feminine gender in the financial sector in Iraq and represents a step forward in the gradual process of developing diversity in key economic institutions in Iraq. The Central Bank of Iraq announced on July 8.

Huwairf takes over at a time when the central bank of Iraq is focused on implementing banking reforms, enhancing financial supervision and transparency in the banking system nationwide. She will be appointed to the executive leadership of the bank following the new Governor Nizar Nasser Hussein who was appointed to the fold in June 2026 and tasked to bolster the financial stability, modernize the banking laws and continue the institutional reforms of the bank.

Huwairf is a very experienced financial professional with over 23 years' experience in accounting, auditing and financial supervision. Prior to her appointment she worked as the Acting Director General in the Federal Board of Supreme Audit in Iraq and held a number of senior roles in the Federal Board of Supreme Audit and the Central Bank of Iraq. She has held a wide range of audit, finance, agriculture, public services and banking supervision posts during her career and is known for her broad expertise in the areas of financial governance and institutional oversight.

Key Highlights:

• First woman Deputy Governor of Iraq's Central Bank
• 23+ years in auditing and finance
• Supports banking reforms and transparency

This is complemented by her educational background. Huwairf has a diploma in accounting from the Institute of Administration in Iraq (1996) and a bachelor's degree in accounting from the University of Baghdad (2000). After that, she obtained her PhD in Certified Public Accounting from the Higher Institute for Accounting and Financial Studies, University of Baghdad in 2013 with a first-class degree. She is also professionally licensed to practice auditing and accounting in Iraq and has been trained internationally by the International Organization of Supreme Audit Institutions (INTOSAI) Development Initiative.

As Deputy Governor, Huwairf will be expected to have a key role to play in advancing the internal governance, banking supervision and transparency and accountability work of the Central Bank. She has likely helped to bolster the oversight of Iraq's banking system more generally and as the country implements banking system reforms that conform to international financial standards.

The appointment is at a time when Iraq's financial system is undergoing a major change. Since taking office, Governor Nizar Nasser Hussein, who was previously in charge of Iraq's Anti-Money Laundering and Counter-Terrorist Financing Office, has focused on the need for institutional reform, financial stability and increased adherence to international banking practices. The Central Bank has also been striving to deepen the regulatory framework, advance digitalization and build the confidence of the banking sector, in the face of the sector's challenges collectively.

Huwairf's appointment has symbolic meaning as well because of the woman's role in Iraq's public institutions. She became the first woman to hold the position of Deputy Governor of the Central Bank of Iraq and puts Iraq on record in taking the first steps towards women's involvement in the leadership of financial and economic institutions. The move is seen as a significant step towards promoting inclusiveness and underscoring the Central Bank's dedication to institutional excellence and good governance.