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Iraqi stock exchange looks forward to new laws are active locally and globally tripping

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2017/02/27 (00:01 pm) - hits: 166 - Edition (3843)



Iraqi stock exchange looks forward to new laws are active locally and globally tripping

Baghdad/zahraa Al Jassim

Numeric pad bustles with colors and various accounts have stuck to rapid glance to the necks and eyes now in medium-sized trading room separated by transparent barrier trading companies offices inside.

This brief image of Iraq market for securities (stock market) underfinanced by older men and women rarely attendance records.

This market began trading it manually after the change in 2003, limited to only 15 stocks share before electronic trading system for the first time in 2009, jump trading indicators by 50%, and foreign investors also opens in the year 2017.

Iraqi stock exchange, like every other stock exchange, digital world doesn't care about non-financial secrets and tripped thrones, but not lulled to rest until the curtain announcing end of the show.

Shareholders still in this market, skeptical about the possibility to compete with their counterparts in the countries of the region, particularly the Gulf stock markets, despite the increase in its in 2016 compared to previous years, but they also realize the great challenges they face in this market because of the difficult economic and security conditions in the country, aspiring not to amend existing laws or new laws to support the economy, by seeing the trading experts.

Khalil's, is a shareholder in Iraq market for securities, vouch for (range), the Bourse despite her quest to put up the largest number of stocks to trade and access to advanced stages of profits, but there's a lot of mixed public-private enterprises, was not raised in the Iraqi stock exchange, because of the lack of a culture of mistrust and BA, stock exchange clearly seem skeptical that rival Iraqi Stock Exchange stock exchanges in the Gulf because of the situation faced by the country and the region.

And that's with draws near, "stock exchange opening must be Exchange in the South. To be in Basra, for example, being a major city in economic size, "adds" there must be a balance in financial dealings at the stock exchanges.

It seems that the situation is different when Jamal Abdul Latif, another contributor, since it believed that the fear among shareholders in the Iraqi stock exchange is not significant, as it exists in the global stock markets, continued to say, "we are watching the market on a daily basis and look forward to the rise and decline of stocks, and we have no fear, since most of the companies in the market are uncovered in its dealings in the sense that its work known to us, so the ascent and decline is alarming."

And while watching AE NUMPAD within the market confirms (range), not to link Iraq to global markets and the Baghdad Stock Exchange is not affected directly by what goes on in the world, makes the risks slightly, "but also declined any stock will certainly, big concerns when some shareholders," hits "for example when Warka trading unexpectedly due to impose guardianship by the Central Bank, it has caused many contributors to real disaster, so some heart attacks Crippled him bed."

Meanwhile, notes the Executive Director of the Iraq stock exchange, Taha Ahmed Abdul Salam, (range) market continued to trade strongly, although security conditions surrounding Iraq since 2003 until now, pointing to a foreign investment fund 30 right now, while there is no investment funds.

Abdel Salam, says that the market index began to rise at the end of the year 2016, with a volume of one trillion dinars and is the biggest in the past years, adding that trading indicators jumped to 50% after using the electronic system, with the number of listed companies was not commensurate with the size of GNP, but trading via the electronic system will run smoothly, while stressing the importance of establishing new joint stock companies.

About the functioning of the market, Abdul Salam, the largest banking companies in the stock market, where banks share 65% number of shares listed, and finds that banks need to expand their work, especially after obliging its Central Bank floated, alluding, with six banks awaiting inclusion in the market and refrained from listing on the market for fear of disclosure.

Financial expert and competent administrative Abdul Haq, morning stock trading says in an interview for (range), there are a lot of obstacles facing progress Iraqi stock exchange, including slow economic growth in the country, as well as not to amend many laws that support the economy as the capital market law and tariff Act, added to the absence of necessary economic legislation, such as the law on the protection of the product and the regulation of business companies, which caused her great migration of capital, economic environment in Iraq chased to invest, which embarrassed Sometimes the size on the Iraqi stock exchange, he says.

Pursue financial expert, saying that security and political الازﻣات affecting the country at the moment, is the other big impact was her and obviously on the low level of trading stocks on the stock exchange, cause for fear of some international companies to enter the Iraqi market.

Dating work in Iraq market for securities, to the early 1990s, where he was dubbed the Baghdad Stock Exchange, and was run by the Iraqi Ministry of finance, and after the year 2003 closed the stock exchange, but later it opened its doors again after 74 law of 2004, under the name "Iraq market for securities administered by the Securities Commission.

The market is self regulated institution administratively and financially independent, not-for-profit member owned and managed by a Board of Governors, and has the right to own movable and immovable property, including real estate, and adhere to the instructions of the securities under the Securities Act.

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