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The Central Bank cancels a condition in the appointment of the Director-Commissioner of brokerage companies
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The Central Bank of Iraq announced on Tuesday the abolition of the requirement of appointing the director of the intermediary companies.
"Based on the decision of the Board of Directors of this bank No. (114) for the year 2018, it was decided to cancel the condition of owning shares in the company for the purpose of appointing the director of the brokerage companies to sell and buy foreign currency," the bank said in a brief statement.
It is noteworthy that the Central Bank issued a circular in November 2017 refers to the possibility of assigning the Director Commissioner and his assistant by the company until the completion of the procedures of their appointment and granted final approval by the Central Bank.
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