Central Bank withdraws the license of the brokerage companies to buy and sell currencies for violating instructions

The Central Bank of Iraq announced on Monday the withdrawal of the license of two companies mediating the sale and purchase of foreign currencies for violating instructions.

The bank said in a statement received by Alsumaria News, a copy of it, that "in view of the violation of the companies Nahla and promoter to broker the sale and purchase of foreign currencies to the provisions of the regulation of the work of brokerage companies decided to withdraw their founding license and the confiscation of the letter of guarantee issued by the Islamic Bank of the 250 million dinars for the bank Nahla And the confiscation of Taminat also Almorog company of 100 million dinars. "
Central Bank withdraws a brokerage company to sell and buy currencies for violating the instructions
Central suspends the work of a broker company to buy and sell currencies

The bank called on the Ministry of Commerce to cancel the certificate of establishment granted to them by them, in addition to removing their names from their records and to provide the Central Bank with the certified liquidation letter.

The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.

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