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Shafaq News / The Central Bank of Iraq called on Monday, exchange companies in Kurdistan Region to obtain work licenses.
The bank said in a statement received by Shafaq News that “companies mediating the sale and purchase of foreign currencies in (Kurdistan Region) wishing to obtain a work license and register them as a banking company licensed by this bank, based on the amended Companies Law No. (21) of 1997, and the Bank Law Central No. (56) for the year 2004. ”
He added, “Obtaining the license entails advantages that are commensurate with the size of the category in which the company falls into the categories (A, B, C) classified by this bank.”
He explained that “the companies wishing to register in category A must have a capital of not less than five billion dinars, while companies of category B will have the capital of one company not less than two billion and 500 million dinars, while companies represented by category C must not be less than the capital of the company.” One is about 500 million dinars. ”
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