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The Iraqi government Initiatives related to the stock market


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Dear client,

 

The Iraqi government Initiatives related to the stock market aimed to upgrade the capital market to be an attractive, efficient, justice, and transparent environment for investment by creating confidence in the stock market and regulating, monitoring, and developing stock markets and companies operating in this field. For more details open the attachment.

 

If you have any questions don’t hesitate to contact us anytime be safe and kindest regards,

 

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Wednesday, October 17, 2020
This report summarizes what was stated in the final report of the Emergency Cell, to reform the money that was formed according to Cabinet Resolution No. (12) taken in its session on May 12, 2020, which aims to contribute to managing the financial situation of the current economic crisis and to develop the necessary solutions to achieve reform Money and to improve the performance of financial institutions.
The Prime Minister chaired it, and the meetings were moderated by the Minister of Finance and included representatives of the Economic ministries and the prominent state institutions concerned with the issue, including the ministries of Finance, Planning, Oil, and the Central Bank of Iraq.
Initiatives related to the stock market aimed to upgrade the capital market to be an attractive, efficient, justice, and transparent environment for investment by creating confidence in the stock market and regulating, monitoring, and developing stock markets and companies operating in this field.
Since the most prominent initiative mentioned in the report regarding the stock market includes the following:
1. Restructuring the Board of the Iraqi Securities Commission.
2. Accelerate the legislation of a new securities law, and activate new concepts, such as
corporate governance, treasury stocks, and international accounting standards.
3. Review Instructions No. 17 of 2012 regarding establishing the custodian issue (the custodian services) in the Iraq Stock Exchange, to remove the current obstacles to
providing this service by banks.
4. The trend towards privatizing some public companies by converting them into mixed joint-
stock companies, to improve their performance, in line with the public interest, and to encourage the national economy, which will lead to an increase in the number of companies listed in the financial market, and an increase in national and foreign investment direct listing into the Iraq Stock Exchange, thus increasing the state's imports of those companies' revenues.
5. Updating the current instructions that are not related to the law, such as margin trading, amending the clearing period, the third market, and expanding brokers' powers.
6. Opening other specialized markets in the country under the Securities Commission's umbrella, such as the commodity market in cooperation with the corresponding bodies in other countries, and the currency exchange market (Forex).

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21 minutes ago, screwball said:

6. Opening other specialized markets in the country under the Securities Commission's umbrella, such as the commodity market in cooperation with the corresponding bodies in other countries, and the currency exchange market (Forex).

Yep....

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1 hour ago, screwball said:

Yep....

That’s what I said too when I got that letter screwball funny how that last entry caught both of our attention. 

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February 03, 2020
The central bank issues a set of recommendations for shares of traded banks
 

 
Within the efforts of the Central Bank of Iraq in maintaining the stability of the economic process, His Excellency the Governor of the Central Bank of Iraq, Mr. Mohsen Ismail, initiated a meeting with the Chairman of the Securities Commission and the Executive Director of the Iraq Stock Exchange and the Executive Director of the Association of Iraqi Private Banks, to discuss the mechanism of increasing the return on shares Banks, improving the circulation of those stocks, as well as increasing the transparency of banks to disclose performance and a set of other recommendations.          
 
The Central Bank of Iraq    
Information Office     3/2/2020
 

Sorry translation from above 

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