Securities Commission confirms that the impact of the deletion of zeros on the Government of Iraq’s foreign
On: Sun 03/25/2012 6:31
Baghdad / range
declared the Iraq Stock Exchange yesterday, Saturday, that the deletion of three zeros from the local currency will not affect the level of equity investment of external and internal.
and announced that the Securities Commission for a stop work efffective from Sunday until next Thursday in response to the holiday announced by the Iraqi government .
The executive director Abdul Razak said that.. “the deletion of zeros from the local currency is currently only being is organizational and it will not affect the level of trading stock investment foreign and domestic,” noting that “continuous coordination with the Central Bank to regulate the process of deleting the zeros and confidence that it will not affect the level of trading domestic and foreign stocks stock market. ”
and pointed out that “the Iraqi market for securities has specifications similar to international standards, which represents the confidence of investors which is contributing to the promotion of the Iraqi market for securities in achieving economic development.”
and started the Iraq Stock Exchange preparations preliminary to gain membership in the global market for securities , also announced the initiation of electronic filing of corporate foreign investment and local, rather than filing paperwork.
The Stock Exchange of Iraq has started operation in 2004, and shifted from manual trading to the use of screens handle electronic in 2009 and open for trading two hours a day five days a week.
and the banking sector is the largest in exchange, which also includes the shares of industrial companies and insurance companies, hotels and agricultural companies.