Securities Commission granted an initial license for the opening of financial markets in Basra

24/05/2012 08:38

BAGHDAD / news center for the Iraqi Media Network / Iraq announced the financial markets it had granted preliminary approval for the opening of the stock market in the province of Basra.

The Executive Director of the Securities Commission's (News Center for the Iraqi Media Network) "The Securities Commission granted the license for the initial opening of the market for securities in the province of Basra."

"We did not grant the license until a final view on the infrastructure of the market and the extent of their ability to deal with stocks and stock markets."

And Announced the Securities The end of the financial preparations for the opening of Erbil Stock Exchange, stressing that Iraq Does not need to open markets in all provinces .

And started the Iraq Stock Exchange initial preparations for membership of the global market for securities, also announced the initiation of electronic filing of companies foreign and domestic investment, rather than filing paperwork.

The Iraq Stock Exchange has started operation in 2004, and shifted from manual trading to the use of e-dealing screens in 2009 and open for trading two hours a day five days a week.

The banking sector is the largest in the exchange, which also includes the shares of industrial companies and insurance companies, hotels and agricultural companies.


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