BAGHDAD / Center Brief for the Iraqi Media Network – Securities Commission announced it had begun preparing for the signing of a Memorandum of Understanding with Romania for the development of the stock market.
The Executive Director of the Securities Commission Abdul Razzaq al-Saidi’s (Center Brief for the Iraqi Media Network) that “Iraq in the process of preparing a Memorandum of Understanding with Romania for the development of the Iraqi market for securities and support in the promotion of investment and the transfer of state-owned companies to private and to address the deficit.”
He explained that “there Jhohd to include the Iraq Securities Market to develop the public sector and state enterprises earmarked for conversion from system to system loss-making companies profitable companies.”
And started the Iraq Stock Exchange initial preparations for membership of the global market for securities, also announced the initiation of electronic filing of companies foreign and domestic investment, rather than filing paperwork.
The Iraq Stock Exchange has started operation in 2004, and shifted from manual trading to the use of e-dealing screens in 2009 and open for trading two hours a day five days a week.
The banking sector is the largest in the exchange, which also includes the shares of industrial companies and insurance companies, hotels and agricultural companies.