Prestigious companies register in Erbil Stock Exchange

Admin Mon Jun 30, 2014 12:18 pm

28.06.2014

Erbil - The Arab Federation of Exchanges (AFE) has approved the request of the Erbil Stock Exchange (ESE) to join the AFE.

Following the participation of ESE in AFE’s annual meeting in Dubai on June 4th, ESE requested they take steps forward in confirming their membership in AFE.

The Chairman of ESE Abdulla Ahmad Abdul Rahim told BasNews that following AFE’s annual meeting, they looked through ESE’s CV and chose to accept their request based on their qualifications.

“Being a member of AFE will open doors for the members of ESE that they can benefit from the exchange through training, workshops, and market studies,” said Abdulrahim.

“By the end of the year the stock exchange will open if no problems present themselves. Buying and selling will be based on the shares of the companies and so far many prestigious companies have registered their names. It is also expected that most of the companies in the Kurdistan Region will be ready to participate in this exchange,” added Abdulrahim.

“Buying will be done in Iraqi Dinar and we don’t think the opening of the exchange will have an impact on increasing the value of Dollar or Dinar,” said Abdulrahim.

He also pointed out that AFE membership would increase to 18 when ESE is officially confirmed.

AFE was established in June 1978 to be the guiding body for the Arab stock exchanges, under the recommendation of the Arab Central Banks Conference, held under the auspices of the General Secretariat of the League of Arab States in Jordan.

http://basnews.com/en/News/Details/Prestigious-companies-register-in-Erbil-Stock-Exchange/24928