The Corporate Registration Department approves the establishment of the Iraqi Deposit Guarantee Company

July 03, 2019
The Corporate Registration Department approves the establishment of the Iraqi Deposit Guarantee Company

    In accordance with the duties of the Central Bank of Iraq provided for in its law and in order to ensure the stability of the banking sector and increase confidence in it, this bank announces the approval of the company registration department in the Ministry of Commerce to establish the Iraqi Deposit Insurance Company / mixed contribution according to the provisions of Article 19 of the Companies Law No. 21 of 1997 .
     
    The Iraqi Deposit Guarantee Company was established with the participation of 42 banks, including 6 government banks, 21 private Iraqi banks, 15 Arab and foreign banks, the National Insurance Company and the State Pension Fund, with a capital of KD 100 billion.


    Deposit insurance companies have been found to support efforts to stabilize the financial and banking system.
     
    Central Bank of Iraq
       information Office
       3 July 2019




https://cbi.iq/news/view/1169

Approve the establishment of the "Iraqi Deposit Insurance Company" with a capital of 100 billion dinars


Economy News Baghdad

The Ministry of Commerce's registration department on Wednesday approved the establishment of the Iraqi Deposit Guarantee Company with the contribution of 42 banks.

The Central Bank of Iraq said in a statement received by "Economy News", "Based on the duties of the Central Bank of Iraq provided for in its law and in order to ensure the stability of the banking sector and increase confidence in it, this bank announces the approval of the Department of registration of companies in the Ministry of Commerce Establishment of the Iraqi Deposit Guarantee Company / Mixed ", pointing out that this was" based on the provisions of Article 19 of the Companies Law No. 21 of 1997 amended. "

The statement added that the company was established "with the contribution of 42 banks, including 6 government banks and 21 Iraqi private banks, and 15 Arab and foreign banks, as well as the National Insurance Company and the public pension fund / state pension fund," noting that the company's capital "100 billion dinars."

Deposit insurance companies have been found to support efforts to stabilize the financial and banking system.


http://economy-news.net/content.php?id=17125