The Central Bank decided to refer a bank to forced liquidation.
A document from the Central Bank addressed to the Bank of Babylon stated that “based on the decision of the Board of Directors of the Central Bank No. 203 of 2024, the following was decided:
1- Referring your bank to forced liquidation based on the provisions of Article No. 69 of Banking Law No. 94 of 2004.
2- Appointing Ahmed Abdul Mahdi Nemah as the bank’s liquidator.
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