Kurdistan is preparing to establish a market for securities contribution of the territorial Government and commercial companies

Tue Jan 21 2014 18:28 | (Voice of Iraq) - Add a comment -

Erbil: The President of the Board of Directors of Erbil market for securities Abdullah Ahmad Abdul Rahim about the preparations for the launch of Erbil market for securities in the second half of the current year of 2014, pointing out that about 25 companies contribute to the establishment of the project.

He added that "now being ready for the opening of the market Arbil Securities in the Kurdistan region," noting that "it was agreed with the company Nasdaq U.S. processing market system (X-Stream INET) in force in more than 70 countries in the world," according to Alsumaria News.

Abdul Rahim added that "it is expected to participate in the project between 2025 joint-stock company," adding that "now is the definition of companies and owners of capital to the project."

He pointed out that Abdul Rahim, "the capital of Erbil market for securities of 10 billion Iraqi dinars currently," pointing out that "the Kurdistan Regional Government contributes 20% in the project, as well as the several views Overnmmah, legal and regulatory oversees the project."

Rahim and called the Kurdistan Regional Government to "establish other joint-stock companies in various fields in order to activate the development of the economy and job creation."

According to informed sources, the Kurdistan region is more stable gateway to the Iraqi market, as well as strong commercial ties with Turkey and the government's support for foreign investment and banking sector witnessed in the region has recently attracted the foreign banks, which began to enter the market and invest in Kurdistan




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