Iraq: foreign shareholders withdraw from the stock market

[yota691]

Iraq: foreign shareholders withdraw from the stock market

BAGHDAD - «life»

Monday, August 12, 2013

Iraqi Central Bank announced, the low number of non-Iraqi dealers in the form impressively in the stock market. Observers attributed this to the «deteriorating security situation».

He noted in a statement to «low trading volume (non-Iraqi) to the banking sector (buying and selling) to 2.2 billion dinars ($ 1.9 million) by 66 percent from the same period in 2012 of 6.4 billion dinars. He pointed out that «foreign investment in the Iraqi market for securities amounted to 949 billion dinars ($ 700 million) this year, compared with 6.4 billion in the first quarter of last year.

The central bank statement, that «58 hearing in the first quarter of the current year, where the banking sector occupied the first place, as the number of shares traded for economic sectors to participate in the stock market 321.1 billion, the share of the banking sector, including 228.8 billion. He explained that «the unrealized increase in the number of shares traded compared to last Barabaan and first half of 2012 amounted to 148 percent, since the number was 92.3 billion shares in the banking sectors.

He reported that the volume of economic sectors «record 2034 billion dinars ($ 1.8 billion), of which 287 billion for the banking sector, an increase of 95 percent in less than a year, while the number of shares of the banking sector to 3112 billion, with a market capitalization amounted to 4571 billion dinars».

He said Iraqi academic specialist capital markets Mahdi Hussein in a statement to «life»: the cause of the decline in the volume of investment in the stock exchange to clear non-Iraqis, and the security situation which has deteriorated during the year, and this significantly affects the size of the turnout. He pointed out that the Iraqi Capital Market Law «gave many guarantees for Arab and foreign investors, which is capable of protecting the heads of his money, whether shares or cash. He emphasized that the market is' actually succeeded and after application of electronic trading in attracting investors from outside the borders, and we hope to increase their number but security conditions prevent this.

Hussein described the Iraqi market b «promising, especially after entering the cell phone companies a quarter of the size of its investments in Iraq as the shares traded in the market. He considered it «large companies are able to attract investors from abroad.

 

[aitshioud]

Maybe it's because doing business with them is such a pain in the arse, 2 months I've been waitin to buy shares through warka and nada.

[Frank61]

I know...they are slooow.

[82Corp.]

Yep!

[jg1]

We handed their country to them on a silver platter and they blew it all to hell. Oh well, such as life in Iraq. 

[moneysoon]

Investors are not going anywhere. We will wait you out!

[Boozer]

Ooooo well you live you learn

[sandfly]

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