Iraq Stock Exchange organizes a workshop for the development of the Iraqi economy and stimulate the sector

Justice / Salah al-Hassani - 03/15/2015 - 1:24

Iraq Stock Exchange Systems

Saturday's workshop under the development of the Iraqi economy and stimulate the private sector logo starts from investing in stocks contributing noted companies, Dr. Abdul Razzaq al-Saadi Chairman of the Securities Commission, in a speech that the aim of the workshop is to promote trading securities and development investment in the Iraq Stock Exchange by market elements and listed companies and brokerage firms and investors and to propose methods of business development and attract and direct savings towards investment, stressing the keenness of the Authority to expand the investment base in Iraq Stock Exchange and its eagerness to hear the views of stakeholders in the market and dealers with him and to serve the Iraqi economy at this stage of For his part, Mr. Taha Ahmed al-Rubaie, Executive Director of the Iraq market revealed in his speech that the market value in the Iraq Stock Exchange in 2014 decreased by 17% compared with 2013, this value decreased in the closing month of February of 2015 by 18% from the market value in 2014

The market value means the multiplication of capital in the closing share price, noting that the decline in current stock prices appeared differently depending on the movement of trading them where he appeared decline Alakparvi shares of the banking sector compared to other sectors because of the equity block for this sector amounting to 5 trillion shares of the total number of listed shares amounting to 5.6 trillion shares attributed al-Rubaie, the reasons for the decline to several factors, the most important increase funds listed companies' capital by underwriting and capitalization of profits and reserves of 4.632 trillion shares in 2013 to 5.675 trillion shares in 2014 and the low liquidity and poor performance of the banking sector, where the bulk banking activity in the foreign exchange and trade finance and the issuance of letters of guarantee operations, which led to a decline in the performance of the banking sector in the context of low business volume of dollar auction of $ 150 million a day in 2014 to 75 million dollars a day in 2015 in addition to aggression terrorist to Daash to Iraq since June 2014 low global oil prices since the end of the fourth quarter of 2014 and lower sectors of the economy's non-oil indicators and the size of the Iraqi budget, said al-Rubaie, the relationship of the share price on the trading result of activity of listed companies affected by the profit and earnings per share by several factors, notably the increase in production costs in the joint-stock companies and weak capacity and administrative irregularities of a number of joint-stock companies, non-disclosure and underemployment in the company's contribution and not to improve the service type and the product submitted by it under the inflation of capital and the Executive Director of the Iraqi market for securities of many proposals to support investment in the shares of joint stock companies through Overture Central Bank Iraq to stop the decision to increase the companies' capital, especially in the banking sector and to support joint-stock companies by studying the proposals and production constraints in which the exemption listed on the Iraq Stock Exchange of tax companies for two years and allowing banks to invest a percentage of the reserve by accepting mortgage investor shares to meet annual interest to create liquidity-oriented investment and the establishment of investment funds by the Iraqi banks vacation from the Central Bank of Iraq and the diversification of securities through the issuance of medium and long-term debt securities and held extensive discussions leaves the work of the Securities Commission and the Iraq Stock Exchange and brokers Money Exchange Association and the investors and shareholders

It is worth mentioning that the Iraq Stock Exchange since it opened in June of 2004, the number of activities, including the inclusion of sub Iraqi joint-stock companies to listing rules and the rules of electronic trading and the Central Depository and develop trading mechanisms using electronic systems in share trading in saved in the filing center as of April 2009, and the organization of five sessions per week as of November 2009 and the application instructions and disclosure rules and ratios influential and knowledgeable people, along with electronic trading and filing instructions Antrzio training and development of mediators and skills of staff and university students and professors of colleges to apply electronic systems and market value of (1.1 rose) billion dollars in 2004 to (9.6) billion dollars in 2013 in addition to the construction of data centers in the Iraqi market and its cooperation with the specialized agencies (MUBASHER, Bloomberg) With the media in the dissemination of the culture of investment in the market and the organization and management of securities trading sessions - stocks - and control and completion of settlement and clearing properly .


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