The Registrar of Companies has announced a new Anti-Money Laundering measure requiring all Iraqi banks to record the founding shareholder’s name in both the capital deposit slip and the bank account statement at the point of company formation.

Banks must now link the founder’s identity to the capital deposit record. This applies to all new company formations and directly affects the incorporation process.

WHAT COMPANIES MUST DO

• Both the deposit voucher and bank statement must carry the founder’s name alongside the company name.
• The requirement applies from the moment of company formation.
• The measure supports Iraq’s compliance with international AML frameworks.
• Banks failing to implement this requirement face regulatory consequences.