BAGHDAD / news center for the Iraqi Media Network - Authority confirmed Iraq Stock Exchange that the deletion of zeros from the local currency hurt at the current stage the level of stock trading in the Iraqi market for securities.
The Executive Director of the Iraq Stock Exchange Abdul Razzaq al-Saadi's (News Center for the Iraqi Media Network) that "the deletion of zeros from the local currency hurt the circulation of shares of stock because there are less than 80 dinars and will be lost in case of deletion of zeros."
The Central Bank of Iraq is being preparations for the start delete the three zeroes from the local currency.
"The central bank is required to provide the feasibility of the process on the ability to absorb the economic situation and how to delete the zeros are the costs of the artistic process Do they contribute to the infrastructure of the monetary policy."
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.
Edited by DetroittoAZ, 22 May 2012 - 01:55 AM.