CBI Revokes Licences of Three Forex Companies

By John Lee.

The Central Bank of Iraq (CBI) has revoked the licences of three exchange companies - Al-Aswar, Al-Qattaf, and Al-Anamel - for falsifying cash-sale records for travellers.

Under Decision No. 138 of 2026, the CBI has also required the companies to return the dollar amounts involved in the violating transactions, or the exchange rate differential where full repayment is not possible. The following additional prohibitions apply to all three companies:

• The authorised manager, compliance officer, the person responsible for reporting money laundering and terrorist financing, and employees working at airport outlets are prohibited from working at or holding shares in banking and non-banking financial institutions.
• Company shareholders are prohibited from holding shares in banking and non-banking financial institutions.

(Source: Central Bank of Iraq)

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