The Central Bank of Iraq warned the public on Monday of the existence of fictitious electronic stock trading companies claiming to be licensed by the bank.
The bank stated in a statement received by Al-Maalouma Agency that it “does not grant a license to companies trading in (stocks, metals, and cryptocurrencies),” noting that “it has taken all legal measures against such fictitious companies.”
He added that “some pages and posts on social media sites have circulated the names of fake companies that exploit the name of the Central Bank and claim that they are official Iraqi trading companies licensed by it for the purpose of investing and trading in digital currencies, stocks, gold and oil by broadcasting fake videos and posts, and profits are withdrawn through wallets or delivered to people according to their claims.”
He pointed out that “these companies claim to have branches in the governorates of Kirkuk, Mosul, Erbil and Sulaymaniyah.”
He stressed the “necessity for victims of these fictitious companies to take legal action against them and inform the relevant authorities of this.”
The Central Bank called on the public, before carrying out any transfer operation, to “review the names of non-banking financial institutions licensed by it and published on its official website at the following link ( cbi.iq/page/25 ).”
