Regulatory Alerts2023-02-14
Regulatory Bylaw No. (1) on Non-Iraqi Trading in Iraqi Capital Markets
The Iraqi Securities Commission issued Regulatory Bylaw No. (1) of 2022 to establish the operational framework for non-Iraqi investors trading in Iraqi capital markets. The regulation mandates strict identity verification, requires all transactions to be conducted through authorized banks in Iraqi Dinars, and designates authorized Iraqi custodians for financial settlement. It further stipulates that non-resident investors must appoint legal representatives, maintain valid trading authorizations, and adhere to the same compliance rules as Iraqi investors unless explicitly exempted.
Share