The proposal to allow the circulation of foreign shares on the Stock Exchange
The Executive Director of the Iraq Stock Exchange, Taha Ahmed Salam that the Board of Governors in the market ", the circulation procedures for non-Iraqis and referred to the competent authorities for approval and authorization to begin work.
" Salam announced that "work is continuing now to move from the manual circulation systems to electronic trading after the contract with the Swedish شركهOMX, which carried out the project the same exchanges in Dubai and Abu Dhabi, Cairo, Saudi Arabia, Palestine, in addition to the seven European exchanges, "pointing to" the end of the train 32 staff and 48 broker members of the securities and the Board of Governors in the market, to use the new system late last month.
" Salam explained that the current year "will be important for the adoption of a transaction the electronic transfer of files and investors of companies contributing to the deposit, leading to the elimination of the daily problems experienced by the work of the Stock Exchange. as well as increasing the speed of the rate of turnover of shares, as well as to encourage investors to training and moving to electronic trading and accept the inclusion of new companies in the market, as well as the expansion of the investment signing the agreement with the Kurdistan to open the hall to circulate securities which, linked electronically with the market in Baghdad, Iraq.
It also will join the International Union of exchanges and cooperation with the Arab stock exchanges for the opening of direct investment through channels Stock Exchange.
" The Executive Director of the Stock Exchange to the difficulties and problems encountered by the investment over the past year, and it is the results of circulation operations the market was "not positive", the most important one, according to the "lack of stability and security departments and some companies of the threat, and each other for the abduction and curfews to protect the lives of citizens, and the migration of some Iraqi capital abroad, which led to the liquidation of large shareholders governor. Moreover, increases capital-Organization