Iraq returning to international standing ... ISX ..The General Authority

[scottbaxterr]

Iraq returning to international standing ... ISX ..The General Authority

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FRIDAY, JUNE 4, 2010

Iraq returning to international standing ... ISX ..The General Authority for the Iraq market will be held on Saturday, 19/06/2010.

"And discuss the agenda for the Work Committee for the purpose of the meeting of the General Union in October 2010"

June 5, 2010

Economic : Taha Ahmed Abdul Salam: active presence of the Iraqi Stock Exchange, stock markets in the meetings of the European Union Asia

Confirmed that Iraq regain the international role of

بغداد - الصباح BAGHDAD - morning

Iraq participated in the meetings of the Executive Directors of the European Union, the Asian stock exchanges such as the delegation of the Iraqi market for securities in it. This was announced by the representative of Iraq at the meeting of the Managing Director of the Iraq Stock Exchange, Taha Ahmed Abdul Salam

He said that Iraq's participation task on the road to effectively attend to such global forums confirms the return of Iraq to the environment internationally. He said the meeting dealt with ratification of the final accounts of the Union in 2009 and approval of the report of the directors of stock exchanges by, proposed plans for the Union in 2010, to approve the mechanism for assessing stock members, who number 28 Arab bourse, Asian and European countries through the volume of activities undertaken by the stock market.

Has requested an exemption from the Iraqi Stock Exchange index of the meeting of the General Union of the difficulty of hosting members of the Federation meeting in Iraq.

Reserving the right to invite the Union to convene in Baghdad during the next year or the next.

And discuss the agenda for the Work Committee for the purpose of the meeting of the General Union in October 2010.

To occur as Abdul Salam's "economic-Sabah" on indicators of the Iraqi Stock Exchange and the activities of the market during the month of May last, he pointed out that the Iraqi market for securities held during the month of May 2010 ( 22) electronic trading session was the number of shares traded (64) billion shares on a volume (96) billion dinars.

Compared with (21) trading session for the month of April, in which the number of shares traded by (16) billion shares and trading volume (26) billion dinars.

Perhaps the most important reasons for the high number of shares traded and trading volume for the month of May to the high number of meetings achieved is the implementation of great deals on the shares of the Islamic bank was returned to circulation in the meeting of 09.05.2010 the number of shares exceeded (20) billion shares worth more than (19) billion dinars, the bank's shares exceeds the number of shares the North (28) billion shares worth more than (53) billion dinars have been posted on the electronic market and the location of the securities to disclose details about the percentage of purchases and sales ratios and the names of investors in compliance with the instructions say.

Meanwhile, the number of companies registered in the market (85) the company after listing bank of the Tigris and Euphrates and circulation in the meeting of 30/05/2010.

Abdel-Salam said the data hinted Trading Report and report daily trading indicators shows that the first sessions of the current month was the best sessions of the indicators of the end of the month in which it began trading volumes are less than one billion dinars in each session.

However, the market index was not affected, but up to a slight change due to the price factor as it appears from the reports of daily bulletins for this month.

He explained that this month has seen the issuance of numerous resolutions, the most important decision of booking the Executive on the shares of Bank of Basra, despite the fact that this bank is not registered in the electronic trading has not been trading shares for a full year because he was banned from trading by the Securities Commission for not complying with standards of disclosure and the final accounts for 2008 and 2009 to the Securities Commission, the Iraqi market.

Has asked the Securities Commission to provide bank full disclosure of the causes and effects and the results of this reservation.

On a link that said the most important activities of the Iraqi Stock Exchange during the current month by the Securities Commission of Iraq and the Iraqi market for securities in coordination with the Council of the province of Najaf has been held the first seminar of investment in the province of Najaf Chamber of Commerce building in Najaf.

During which he a member of the Commission, Mr. Abdul Razak Mohammed Ali lecture included topics on the capital market in Iraq and the mechanisms developed and Platform for encouraging investment in the stock market has been encouraged by the Securities Commission present the request for leave and mediation work in maintaining and attracting investments to the people of the province to achieve the horizontal proliferation of investment activity in the stock market.

It is hoped to continue to plan to visit Iraqi provinces and explain the concepts of investment in the stock market this year.

The Iraq Stock Exchange and Securities Commission, had already organized in the same seminar in Diwaniya last month in partnership with the provincial council.

Among the other activities the training of 200 students from universities to the electronic trading mechanisms and read indicators and continuous training plan over the coming months, especially July and August in coordination with the Studies and Iraqi universities.

It also finalized the time of application for leave and a new mediation in the Iraqi market for securities.

The committee in charge of evaluating applicants to lift its recommendations to the Board of Governors for approval and then to submit its recommendations to the Securities Commission for the purpose of vacation the most efficient candidates.

The Securities Commission approved in April 2010 on a vacation of three brokerage firms, including the brokerage firm of the Bank of TBI and the Iraqi Trade Bank of the North and the third group of investors Iraqis.

And approved the inclusion of the bank of the Tigris and Euphrates and was the first electronic trading session on 05/30/2010 him after the beginning of the filing of certificates of the shareholders of their shares.

Has been passed, a consolidated equity, which will be launch of the joint-stock companies early next month of June.

The first of the meetings to explain the concepts of the system to joint stock companies, starting on Sunday, 05.30.2010 in the building of the market and the lecture included the first 12 joint stock company.

The Securities Commission approved amendment instructions for election to the Board of Governors and as follows: Article 8-4: The Committee on the nomination list of candidates for consideration by members of the market in a period not to exceed seven calendar days before the General Assembly meeting in this regard.

Article 13-4: announces the names of candidates for membership of the Board of Governors is a public bulletin board in the market and posted on its Web site five days before the calendar at least.

Rule 2-18-4 ©: must apply to the conditions for nomination of candidates at the nomination.

The General Authority for the Iraq market will be held on Saturday, 19/06/2010.

Among the most important paragraphs of the agenda, approved the final accounts for 2009 and the election of new board of directors last one year only.

Will be held with the General Authority for joint stock companies to elect its candidate on Saturday, 06/05/2010.

"Abdul Salam will be launched Iraq's index of new securities following the increase in the number of companies, consisting of a sample index.

And the current index consists of only 19 companies were selected in 2009 after the transfer of companies from manual trading to electronic trading.

And after the increase in the number of companies accepted in electronic trading to 84 companies, the Board of Governors decided to increase the number of companies within the index to 40 companies in order to give real value indicator of trends in price movement of shares traded their general form, and form the sectoral as well.

Was organized in the first test to check the performance Mjuli stations, electronic trading who have succeeded in tests in 2009 under a plan developed by the Iraqi market in cooperation with the Jordan Securities Commission ... to increase the efficiency of workers at these stations will continue to ... plan tests in July and September in the month of November this year.

The joint committee of the Securities Commission and the Iraqi market for securities supervision on these tests, which will be followed by tests on the application of trading instructions and deposit and the activity of brokerage firms.

The Board of Governors approved the Iraqi market for securities regulation test managers Commissioners brokerage firms during the month of June next, who were chosen to serve as Director of the commissioner.

He concluded by noting that the Board of Governors will continue to study and evaluate the experiences of Arab stock exchanges in the application of custodian for the specification of work and then work to obtain the approval of the securities on the instructions regulating this activity to implement this service for investors in particular are not present in the capital Baghdad.

The custodian system using electronic tags to identify customers and open accounts for them, and save the securities of their own, and the transfer of deposited securities between accounts in addition to inquire about the movement and assets of clients of securities, the delivery of the securities to the financial intermediary seller and the receipt of securities from a broker or buyer and on behalf of its clients.

http://articlesofinterest-kelley.blogspot.com/2010/06/iraq-returning-to-international.html

[Bacon2782]

This is a good thing right?? Going international means alot mre trading and alot more countries and people using dinars I hope

[Chief V]

Hmm again this shows that we are a bit further away then we may think, lots of pressure from all sides, unless this paragraph is untrue, it could still be an October time frame, allowing a 60 day window till the end of the year for a final withdrawal of liquidity funds (our money) to complete the larger bills out of circulation....

Just my opinion, not holding my breath as they've done things quick in many areas and arenas that were unexpected.

Among the other activities the training of 200 students from universities to the electronic trading mechanisms and read indicators and continuous training plan over the coming months, especially July and August in coordination with the Studies and Iraqi universities.

[Chief V]

Hmm again this shows that we are a bit further away then we may think

Let me touch on this thought though as we've all seen the speed with which Iraq can correct itself, between all the rumors and false media that has been coming out, I know the stock exchange is archaic at best over here, they are actually using white boards at this time, so this is not to say that they can't handle the RV right now, this is to say that they need the technology to expand and escalate their ISX very quickly upon the RV. I got to thinking about this earlier today, and I don't think that this would affect the RV in a major way whatsoever. Right now they haven't even built up a major basket of stock as of yet, but once an RV happens holy cow, it'll explode as commerce will go through the roof. JMO.

Have a good weekend all,

V

[shannybelle27]

If you haven't read the scooter chat from yesterday the 18th..take a look, it explains a lot..very good read