The Central Bank calls for companies to mediate to merge and identify a number of points
Twilight News – The Central Bank of Iraq called on companies to broker the sale and purchase of foreign currencies to merge to form a single banking institution, based on the Companies Law No. (21) for the year 1997 amended.
The bank said in a statement that in light of its goal of achieving financial and banking stability and creating a competitive work environment, it calls on companies wishing to merge to form a single banking institution based on the amended Companies Law No. (21) of 1997, indicating that this process will create the strong possibility of providing these institutions with rapid growth and that the formation of a larger entity covers services more broadly commensurate with the size of the merged institution and thus access to financial services broader by the Central Bank commensurate with the size.
He explained that the merged companies will be classified according to the request submitted by them and will depend on the granting of privileges according to the merged category and as follows: …
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