"Approval Required" for Majority Foreign Ownership of Iraqi Companies

By John Lee.

According to information from Rabee Securities, the approval of the Iraqi Securities Commission (ISC) will be required in every case where foreign ownership of a company exceeds 49 percent.

The brokerage house says the ISC informed the Board of Governors of the Iraq Stock Exchange (ISX) of the change on Wednesday 6th October.

This regulation will apply "until the issue [of] foreign ownership is resolved by the Legal Committee in the General Secretariat of the Council of Ministers."

(Source: Rabee Securities)

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