Obliging financial institutions to obtain the Central Bank of Iraq approval to increase/decrease its capital

For regulatory purposes; the Central Bank of Iraq – Banking Control Department, in accordance with its letter number 9\10\20657 dated 9th July 2023, obliges the Companies Registrar to have the Central Bank’s approval for any procedures related to increasing or decreasing the capital of financial banking and non-banking institutions, which is confirmed by the Companies Registrar per its letter numbered R.C/3648 dated 25th July 2023. Below are copies of related letters confirming the same, along with their English translation.