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yota691

International Islamic Bank (BINT) will hold a GA meeting on May 8, 2017

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Holiday: 

 

Greetings

We want to inform you that the ISX will not be held the trading session tomorrow on 1/5/2017 due to the national Labor Day and the next session will be held on Tuesday   2/5/2017.

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Greeting:

The Iraq Stock Exchange Forum Recommendations,

The Iraqi Stock Exchange organized the second Global Conference for the period 8-9 May 2017 in Beirut under the title of (Iraqi Stock Exchange, Investment Prospects and Trading Technology) within his yearly plan to attract foreign Investments and relation building, To Developing the capital market in Iraq and trading Technology.

At the Conclusion of the Conference, The Participants agreed the fallowing recommendation which can be applied according the Iraqi laws.

Issuing the new Capital Market Law dependents on the International standard, To Activate the stock market and it`s parts.

 Attract the Global custodian Bank services with the Iraqi banks cooperation to attract the institutions Investment in the Iraqi shares through ISX.

 Invite the global banks to issuing the depository receipt to the Iraqi stocks to list them throw the GDR & ADR market systems.

Promoting and Marketing the government Bonds which are issued by the central bank of Iraq and list them in the ISX and adopting a marketing plan to marketing the bonds through the ISX.

Obligate the listing companies to issue the Finical Statements according to international standard like the banking sector adapting to the rules of Federal board of Supervision audit.

Developing the disclosure procedures by the listing companies by paying attention to the investor`s relation's and giving attention for the required information that can be disclosed through the website and adopting media plans to attract investment to the stock market .

 Developing the Financial companies' law NO. ( 6 ) 2011 through Organize the limitation of  the investing in the stocks and increasing the capital of these companies and issuing  new instructions to manage there or  there investors portfolio's to be as market makers .

Support the listed companies to apply the Article (55 / 4) from the Iraqi company's law no. (21)   2004, to develop the mechanisms of building capital through the ISX.

Developing the technical cooperate between the ISX and the CBI and Iraqi Banks.

Relies the second level of trading system in addition of relies the online trade through 2017.

Organize the third forum the ISX in Baghdad in November 2017 to discusses the future plans and evaluate the implementation of this forum, and be sure to organize the future forums in the Global financial centers to attract new foreigner and the situational  investments  to the ISX .

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Definition of ADR

American Depository Receipt (ADR), is a negotiable certificate, issued by a US bank, denominated in US$ representing securities of a foreign company trading in the United States stock market. The receipts are a claim against the number of shares underlying. ADR’s are offered for sale to American investors. By way of ADR, the US investors can invest in non-US companies. The dividend is paid to the ADR holders, is in US dollars.

 

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Definition of GDR

GDR or Global Depository Receipt is a negotiable instrument used to tap the financial markets of various countries with a single instrument. The receipts are issued by the depository bank, in more than one country representing a fixed number of shares in a foreign company. The holders of GDR can convert them into shares by surrendering the receipts to the bank.

Prior approval of Ministry of Finance and FIPB (Foreign Investment Promotion Board) is taken by the company planning for the issue of GDR.

Comparison Chart

Basis for Comparison ADR GDR
Acronym American Depository Receipt Global Depository Receipt
Meaning ADR is a negotiable instrument issued by a US bank, representing non-US company stock, trading in the US stock exchange. GDR is a negotiable instrument issued by the international depository bank, representing foreign company's stock trading globally.
Relevance Foreign companies can trade in US stock market. Foreign companies can trade in any country's stock market other than the US stock market.
Issued in United States domestic capital market. European capital market.
Listed in American Stock Exchange such as NYSE or NASDAQ Non-US Stock Exchange such as London Stock Exchange or Luxemberg Stock Exchange.
Negotiation In America only. All over the world.
Disclosure Requirement Onerous Less onerous
Market Retail investor market Institutional market.

 
Edited by rambo12354

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Dear Investor ….

 

Greetings ….

 

ISX will be closed from June 25, 2017 _ 29, 2017 due to the National Holiday for Eid Al-Fitter, The next session will be held on Sunday July 2, 2017.

 

 

 

                                                                  

  • Upvote 1

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Hello

Dates of some important Right Issue:

We remand you the date of right issue presented to shareholders in the company's capital increase described in the table below:

Company Name /code

SMRI

Ban Bilad Islamc bank / main branch

Iraqi Middle East bank /main branch k Name

Issue Rate

15%

Date of issue rate

23/7/2017

The last date of receiving application for issue rate

6/8/2017

The last date of payment the issue rate

3/8/2017

 

 

 

 

 

 

 

 

 

 

 

 

Best Regards

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On 2017-07-17 at 1:30 PM, rambo12354 said:

My last six post has been post# 60, what's up with that?

It's a cumulative total ...

 

You're at 62 now!!!

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