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The rise in the Iraqi stock market index in the Arab world


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 Baghdad: Hussein Thaghb 
The Chairman of the Securities Commission, Faisal Al-Haymes, confirmed the Commission's focus on the custodian system, which raises the levels of transparency and enhances foreign investments in the Iraqi stock market, pointing out that "foreign investments cannot be promoted through intermediaries and away from this internationally approved advanced system."
 
He said, "Expanding the scope of investment in securities represents a lofty goal for the authority, which made work in more than one direction in order to activate the reality of trading, as the last period witnessed the return of several companies suspended to trading, and we are working to return other companies, after we put in place mechanisms that guarantee the rights of Investors and the market activity has actually been enhanced.”
 
right decision
He pointed out that «investors in the stock market, should see the data of the joint-stock company, to then take the appropriate decision to invest or not, in order to have a clear picture of the nature and mechanisms of work and future plans, and the percentages of profits achieved, as we strive to be safe and reassuring trading. to the investor.
 
Trading period
And he indicated that “the trading hours were extended to four o’clock after it ended at 12 noon, as the trading period was extended two days a week, and after an increase in trading spread, a decision was made to invest from Sunday to Thursday in a move that allows the largest number of people to trade. of investors in the stock market.
He said: "The Authority called on the Arab Securities Commission to hold the next meeting in Baghdad, and the invitation was accepted by the Federation of the Arab Securities Commission, to be organized during the year 2023."
 
Illegal investment
He pointed out that “local sums of money are invested illegally by companies called (forex) and a committee was formed under our chairmanship after discussing the issue with the General Secretariat of the Council of Ministers, with the membership of the Central Bank, the security authorities and a number of companies, to follow up on this matter, which puts large capitals at risk due to illegality. This trend, and far from guarantees provided to the investor that his money is directed to invest legally».
He revealed the authority's tendency to establish cooperation with the World Financial Syndicate in the field of training and transfer of expertise to international brokers in the financial markets, to obtain new skills that enhance the relationship with the community and convey the image of trading and its objectives and the benefit achieved from that.
 
serious movement
To that, the economic affairs specialist, Mustafa Muhammad Ibrahim, stated that “the reality of trading in the stock market represents the extent of the activity of the national economy, and despite the challenges that Iraq and the world have witnessed in recent years and the decline that all international economies have indicated, we find in Iraq that there is a serious movement to activate the reality Trading by increasing the trading hours, which allowed new categories to enter the trading movement.” He pointed out that “the Iraqi Stock Exchange can be described as promising because there is a large volume of work, and a serious desire to move the joints of the national economy.” 
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Iraq Stock Exchange
  

 Market


Economy News - Baghdad

The Iraqi Stock Exchange (the Stock Exchange) traded 1 billion shares, with a value of 2 billion dinars, during the past week.

The number of shares traded increased by 0.74% compared to the previous week, while the value of traded shares decreased by 3.74% compared to the previous week.

Also, during the week, 1526 deals were executed.

 
 
Views 33   Date added 01/08/2021
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stock market
  

 Market


Economy News - Baghdad

The Iraq Stock Exchange (the Stock Exchange) announced that it will organize during the first week of August 2021 five trading sessions from Sunday, 01/08/2021 to Thursday, 07/05/2021.

Check during the week the indicators below:
The number of traded shares during this week reached more than (81) billion shares.

The value of traded shares this week amounted to more than (84) billion dinars.

The trading index closed in the market for the first session of the week at (575.32) points, while the index closed at the end of the week at (582.39) points, achieving an increase of 1.21% from its closing in the first session.

During the week, more than (1,400) contracts of buying and selling were executed on the shares of companies listed in the market.

 
 
Views 67   Date Added 05/08/2021
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stock market. "Economy News"
  

 Market


Economy News - Baghdad

The Arab Monetary Fund issued the thirteenth issue of the "Monthly Bulletin of Arab Capital Markets", which is concerned with monitoring developments in Arab financial markets, based on the Arab Monetary Fund's database of Arab financial markets, and data of Arab stock exchanges.

The bulletin, which was followed by "Economy News", stated that "the Arab Monetary Fund's composite index of Arab capital markets ended last July's transactions, rising by 0.05%, compared to June 2021, to reach about 469.58 points."

The performance indicators of the stock exchanges of Iraq, Tunisia, Bahrain, Saudi Arabia, Damascus and Qatar recorded an increase of less than one percent. As for the level of trading value, the stock exchanges of Muscat, Bahrain, Damascus and Iraq recorded the highest rates of decline in the value of trading during the past month, with rates ranging between 52.74 and 93.51%.

The trading volume in the Arab stock exchanges decreased by 79.2%, as all Arab stock exchanges witnessed a decrease in their trading volume, led by the Iraqi and Damascus stock exchanges.

 
 
Views 115   Date Added 12/08/2021
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 Baghdad: morning 
 
The Arab Monetary Fund issued the thirteenth issue of the "Monthly Bulletin of Arab Capital Markets", which is concerned with monitoring developments in Arab financial markets, based on the Arab Monetary Fund's database of Arab financial markets, and data 
Arab stock exchanges.
The bulletin, which Al-Sabah followed, showed that the Arab Monetary Fund's composite index of Arab capital markets ended last July's transactions, rising by 0.05%, compared to June 2021, to reach about 469.58. 
Point.
The performance indicators of the stock exchanges of Iraq, Tunisia, Bahrain, Saudi Arabia, Damascus and Qatar recorded an increase of less than one percent. 
The value of trading, the stock exchanges of Muscat, Bahrain, Damascus and Iraq recorded the highest rates of decline in the value of trading during the past month, with rates ranging between 52.74 
and 93.51%.
The trading volume on the Arab stock exchanges decreased by
79.2%, as all stock exchanges witnessed 
Al-Arabiya decreased in its trading volume, led by the two Iraqi stock exchanges 
and Damascus.
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 2021-08-14 05:39
 

 

Shafaq News / The Iraq Stock Exchange announced, on Saturday, that two billion shares were traded, with a financial value of more than 3 billion dinars during the past week.

And the market stated in a report seen by Shafak News Agency, that "the number of companies whose shares were traded during the past week amounted to 46 joint-stock companies, while the shares of 38 companies did not trade due to the lack of convergence of the prices of purchase orders with sales orders, while 19 companies continued to be suspended for not providing disclosure out of 103 companies." listed on the market.

He added that "the number of traded shares amounted to two billion and 45 million and 415 thousand shares, a decrease of 97.49% compared to the previous session, with a financial value of 3 billion and 410 million and 639 thousand dinars, a decrease of 95.95% compared to the previous session through the implementation of 797 deals."

The market indicated that "ISX60 traded price index closed at 580.58 points, recording a decrease of 0.31% compared to its closing in the previous session."

He pointed out that "the number of shares purchased from non-Iraqi investors last week amounted to 55 million shares, with a financial value of 122 million dinars, through the implementation of 73 deals, while the number of shares sold from non-Iraqi investors amounted to 41 million shares, with a financial value of 135 million dinars, through the implementation of 51 deals.

It is noteworthy that the Iraqi Stock Exchange organizes five trading sessions a week from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism and hotels.

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Iraq Stock Exchange
  

 Market


Economy News - Baghdad

The management of the Iraq Stock Exchange decided not to allow the execution of purchase orders in favor of the foreign investor in 3 joint-stock companies, as of Wednesday's session, 08/18/2021 .

A document issued today, 08/18/2021 by the Iraq Stock Exchange, and addressed to the brokerage companies operating in the market, obtained by Al-Eqtisadi News, said that based on the follow-up between the Securities Commission and the Iraq Stock Exchange on Tuesday 17/8/2021, and based on the To follow up on the implementation of Article 12/Second of the amended Companies Law No. 21 of 1997 - Not executing any purchase orders for the foreign investor in the companies "Baghdad Soft Drinks, Dar Al Salam Insurance and Al Maamoura for Real Estate Investments ."

In accordance with Article 12 of the Companies Law above, the Iraqi shareholding in the joint-stock company has been set at 51% as a minimum, and the rest is in favor of foreign investors .

On the other hand, the director of the Iraq Stock Exchange, Taha Abdel Salam, told "Al-Iqtisad News", that the brokerage companies were informed in order to follow up with the Iraqi Stock Exchange and to disclose the reason for not receiving purchase orders for foreigners by the electronic system in compliance with Article 12 of the Companies Law No. 21 of 1997, as amended, for the purpose of understanding those dealing with companies .

 
 
Views 212   Date Added 08/18/2021
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 Taha Ahmed Abdel Salam*
Iraqi and foreign shareholders and investors follow the indicators of the financial position of the joint stock companies listed in the Iraq Stock Exchange, as well as the indicators of trading and dealing in the shares of these companies. 
Direct analysis agencies, especially Arab ones, including Al-Mubasher Agency, follow up news and information on joint stock companies and trading indicators, in addition to following up on Arab financial markets.
The number of joint stock companies listed on the Iraq Stock Exchange is (103) joint stock companies representing the following sectors:
- The banking sector, represented by (43) joint stock companies, and the number of shares in it represents 79% of the volume of shares. Banking companies have been using international accounting standards since 2018, according to the decision of the Central Bank of Iraq. 
It also uses the governance principles issued by the Central Bank of Iraq since 2018.
The number of companies in which foreign investors invest is 18 joint-stock companies, some of which have a foreign participation rate of 91%, such as the Credit and Commercial Bank 87%, the National Bank of Iraq 80% and the Bank of Baghdad 72%.
The number of banking companies that distributed dividends to their shareholders is (3) companies. 
The industrial sector is represented by 21 companies, and the number of shares in it represents a percentage
2.6% of the shares. 
The number of industrial companies that distributed dividends to their shareholders is two.
- The telecommunications sector is represented by the two companies, Asia Cell Communications and Al Khatim Communications, which represent 16% of the number of listed shares. 
The services sector is represented by 10 companies, and the number of shares in it represents a percentage
0.45% of the shares. Two companies distributed the annual dividend to shareholders.
The hotel and tourism sector, represented by 10 joint stock companies, represents 0.26% of the market size
- The financial investment sector, represented by 6 joint stock companies, and its size represents 0.11% of the volume of shares.
The insurance sector, represented by 5 companies, represents 0.25 of the shares.
The agricultural sector, represented by 7 listed joint stock companies, whose shares represent 0.44% of the volume of shares in the market. Two companies distributed the dividend during the current year.
Thus, the total number of companies that distributed the dividend becomes (9) companies out of 103 joint stock companies, despite the confirmation of the Securities Commission and the Companies Registration Department on:-
1. Encouraging joint stock companies to implement Article 73 of the amended Companies Law No. 21 of 1997, and supporting the distribution of the dividend to shareholders. Book of Companies Registration Department No. 21821 on 27/7/2021.
2. Cumulative Voting - Numbered Companies Registration Department Book 
20949 on 11/7/2021.
It is appropriate to know that the percentage of foreigners’ contribution to the shares of joint stock companies did not exceed 18% for the most important reasons:- 
1. The limitation of foreign investment portfolios to five major, medium and small portfolios, whose priorities have been set in the purchase of shares of companies in sectors, the most important of which are banking, industry and telecommunications, as well as simple percentages in other sectors.
2. The foreigner's contribution to a number of profitable companies has reached its maximum limit, and then the purchase of the shares of these companies has been stopped. Based on Article 12 of the Companies Law and the article specifying the percentage of ownership, as well as based on the effective percentage of a legal or natural person 9.9% in the Banking Law 
Iraqi. 
3. The weakness of establishing new joint stock companies and the weakness of issuing new securities.
The future responsibility of the public and private securities sector institutions will be in various directions, the most important of which are:
1. Working on diversifying new issues of stocks and bonds, both types of government bonds and corporate bonds, and not resorting to capital increases.
2. Obligation of joint stock companies by sectoral authorities to measure return and earnings per share in order to enhance financial performance in joint stock companies; For the purpose of achieving profits and distributable surplus and distributing a divided dividend to shareholders on a regular basis that has demonstrated its ability to attract Iraqi and foreign investors.
3. Shareholders should benefit from the Companies Law and its amendments, especially in the annual conferences where we mean the meetings of general bodies, after voting has become a positive right through its cumulative classification, which will enable a group of small and medium shareholders to take decisions no less important than the owners of larger ownership.
4. Issuing the instructions of the guarantor bank, trading on margin, and the third market platform for trading securities of listed companies with poor disclosure will have a new importance in attracting investment and diversifying the ways of dealing by 
investors.
5. Working to address the problems of companies that have been sabotaged by the aggression of ISIS gangs through work mechanisms led by specialized banks. 
It is appropriate to adopt performance standards in the implementation of the strategic objective - strengthening and strengthening the banking sector and financial institutions - of the Central Bank of Iraq. In the development of the securities sector, as it will protect the rights of shareholders and encourage the development of the financial market in Iraq.
 
* Executive Director of the Iraq Market
Securities
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 2021-09-02 09:16
 

Shafaq News/ The Iraq Stock Exchange announced today, Thursday, that 140 billion shares were traded, with a financial value of more than 113 billion dinars, during the month of August.

The market stated in a report seen by Shafak News Agency, that "the number of companies whose shares were traded during the month of August amounted to 46 joint-stock companies, while the shares of 22 companies were not traded due to the difference in the prices offered from those requested by investors, while 18 companies continued to be suspended for not providing disclosure out of 103." listed company on the market.

He added that "the number of traded shares amounted to 140 billion and 809 million and 220 thousand shares, with a financial value of 113 billion and 374 million dinars, through the implementation of 8465 transactions," noting that "the ISX60 traded price index closed at 594.200 points, recording an increase of 3.27% from its closing in previous session.

He pointed out that "the number of shares purchased from non-Iraqi investors for the month of August amounted to two billion and 768 million shares, with a financial value of two billion and 645 million dinars, through the circulation of 14 joint-stock companies, while the number of shares sold from non-Iraqi investors reached two billion and 337 million shares, with a financial value of two billion." And 895 million dinars through the circulation of 12 joint-stock companies.

It is noteworthy that the Iraqi Stock Exchange organizes five trading sessions a week from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism and hotels.

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