Required Capital Increase for Licensed Banks in Iraq

Recent; The Central Bank of Iraq issued a decision, under letter number 9/2/439 dated 02 August 2023, obliging licensed banks operating in Iraq, both local and foreign, to increase their capital within specific limits and percentages as outlined in the decision. The decision also specifies the deadlines by which these banks must adhere to this requirement. We believe that this decision will play a role in enhancing the soundness and reliability of the banking sector in Iraq.

Attached below are copies of the decision along with its English translation:

You can view and download the pdf copy of the referred books below:

ULF_CBI letter_Increase the banks’ capital_02 08 23