Regulatory Alerts2022-05-24
Added · Updated
Instructions and Regulations for Opening Branches of Financial Intermediation Companies
The Capital Markets Authority has issued Instructions No. 7 to regulate the establishment of branches by financial intermediation companies registered in the Iraqi Securities Market. The regulations mandate specific eligibility criteria, including a minimum capital increase of 50 million IQD per branch and a 20 million IQD increase in the performance bond. Furthermore, authorized signatories assume full legal and financial liability for branch operations, which must adhere to strict reporting, staffing, and anti-money laundering requirements.