With A Document... The Iraq Stock Exchange Cancels The License Of Batek Company.

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With A Document... The Iraq Stock Exchange Cancels The License Of Batek Company.

Economy 2025-06-18 880 views Alsumaria News – Economy Stock Exchange decided The Iraq today, Tuesday, to revoke the license of Al-Batec Securities Brokerage Company.

A document issued by the market and received by Alsumaria News stated that,

“Based on the letter of the Securities Commission No. 1169/5 on 6/5/2025, Regulation No. (5) to stop, suspend and delete brokerage companies and the securities regulations, the following was decided:

-Revoking the brokerage status of Al-Batec Brokerage Company, which is wholly owned by...
To the Bank of Babylon and cancel the company’s license and permit to practice work in
The market, based on Article (3//ninth) of the above-mentioned regulations, stipulates that the broker’s brokerage status shall be revoked in one of the following cases:

“In the event that the company is suspended from operating in the market by a decision from the Authority or the market, and the company does not take measures to return to work within six months from the date of suspension.”

2- Continuing to close all trading stations designated for the company.

3- Please settle the deposit account and provide proof of returning investors’ funds to them within a maximum period of 6/25/2025.

4- Shareholders’ shares deposited in the company’s account will be returned to the deposit center’s account.

5- Babylon Bank shall bear the responsibility for any financial and legal obligations that may arise for the company after this date as a result of its previous activity.

We hope that you will retain any supporting documents for all of the company’s previous operations.

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