Iraq’s financial market will witness a quantum leap in 2014, says Chairman of the Securities Commission

Posted: November 19, 2013 in Iraqi Dinar/Politics
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11/19/2013 12:00 AM

Securities Commission and the Central urging banks to الاندراج in the stock market
BAGHDAD – Farah pumice

Traded 73 companies listed in the regular market for securities shares to record proportions between the rise and fall, which point rise in trading volume during the third quarter of this year than it is in the year 2012, so it came expectations specialists occurrence of a quantum leap in the financial market over the next year 2014.

Chairman of the Securities Commission, Dr. Abdul Razzaq al-Saadi likely increase market indicators Iraq Stock Exchange during the coming year, so as to potential اندراج major companies in it.

expressed Saadi in his statement (morning) hoped اندراج mobile phone companies to the stock market, expecting that it will make a qualitative leap in the stock market. He said he was coordinating with the Department of the Central Bank induce some banks to الاندراج, which encourage the formation of capital for economic development stable, calling on the government to sell its shares in the companies mixed sector , as these companies do not trade بأسهمها at the present time, causing paralysis and lack of moving the wheel of the market.

said Saadi: “The whole initiated subtracting ideas for trading stocks mixed sector through overtures with the Office of the advisers, believing that it will contribute to the support of the circulation in the market .

Mentions that the number of companies listed on the Regular market reached 73 joint-stock company, rose during the hearings last week, share prices of 29 companies out of 54 companies traded remains of 9 companies parked decisions of the Securities Commission for failing to comply with instructions disclosure and submission of financial statements, as well as two parked for holding the bodies of the public, has not been traded by investors on shares of 8 companies out of 73 joint stock company listed on the regular market.

said Chairman of the Commission that next year will see the opening of the market Arbil Securities, which opens up new avenues for investors on the system this market, as well as a software update Iraqi market for securities, and program performance center of Iraq through new systems lead to quicker turnaround times. He said the market Arbil independently, enabling investors in the Kurdistan region of buying and selling stocks through their areas, which leads to increased confidence in the market Arbil and widen the investor base, In addition to that there are aspirations to stimulate the market Arbil induce companies located in the province of اندراج in the stock market (Iraq and Erbil), because it represents a market independent but Bnavztin of trading for the same companies, saying that if fell into the mobile phone companies in Iraq in the market will increase Iraqi Movement for trading, because it companies that attract investors which contributes to increase financial reserves.

said that the Securities Commission aims to contribute to the achievement of stable economic development and sustainable development in Iraq, through the strengthening of infrastructure investment and encourage the process of capital formation as practiced by the licensing and control of the participants in the capital markets, as well as More اتسامها transparency, disclosure and efficiency and equity among dealers, and to protect them in the capital markets from fraud, and the use of methods of exploitation when you ask or trading in securities, in addition to seeking to reduce risks to the stock markets.

To that works to raise awareness of the investment level of the year educate and enlighten stock investors how to preserve their rights and development in this area within the capital markets in Iraq, especially as the revitalization of trading in stocks is a fundamental cornerstone in the development of a future Iraq.

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