Regulatory Alerts2020-08-27
Central Bank of Iraq Law Annex A: Definitions, Autonomy, Objectives and Functions
The Central Bank of Iraq issued this regulatory document to establish its legal autonomy, define its primary objectives of price stability and financial system stability, and outline its core functions including monetary policy formulation and banking supervision. The text details the Board of Directors' composition, appointment procedures, and strict eligibility requirements to ensure independence from government interference. It further specifies the bank's capital structure, profit distribution mechanisms, and the governance framework for managing official foreign reserves and state gold holdings.
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