Stop stock trading money market puts Iraq on the brink of collapse
Stop stock trading money market puts Iraq on the brink of collapse
Thursday, October 03, 2013 – 03:22
Gentle Abdul Salem Okkaily
is the Iraqi market for securities at the present time the money market only official in Iraq, who invests where many Iraqi and foreign money in stocks Iraqi institution and according to the law, which currently number (84) companies, of which 71 companies listed in the market formal, which includes large companies and is referred to as (the first market) in addition to (13) are included in the Company (the second market), which includes small businesses. In August of the year 2013 occurred shift large in the performance of this market while collapsed Iraqi stock collapse and wide, and the deterioration of the level of trading by a very large increase of (10%), which was imposed on investors view their shares for sale in large quantities compared to the level of procurement, as well as common in the financial community about foreign investors begin to flee from the Iraqi capital market, where sales have become more of their purchases for the first time in the history of the capital market. Not surprisingly, in this matter; because foreign investors are watching volume purchases to their foreign counterparts precisely how not fleeing from the market they see lower foreign purchases in the Iraqi market for securities during the month of August 2013 increased by 42% for purchases in July of the same year, along with declining all levels of the month of June (60%). There is no doubt that every foreign investor, in addition to Iraq begins to escape from the money market while he is certain of its losses continued for purchase levels, as well as declines in the level of circulation and Okiemh. Not sin against say that this collapse broad in the Iraqi market for securities not occur as a result of the accident or the impact of external circumstances, but rather was the result of administrative decisions taken by the Securities and forced the management of the market on the implementation and of off more than 20 companies from trading with effect from 4 / 8/2013, what led to the crash nearly a quarter of the market, as well as the shift of investments to shareholders just worthless papers. It is worth noting that the market is not directly affected by the time of the issuance of this resolution; due to the statements made by many of the officials on the market they demand from the Securities Commission does not shut down stock trading!!. But make sure investors inside and outside Iraq that this request went unheeded, as well as the insistence of Securities Commission (a government body responsible for market supervision) on its decision to stall. It seems that what is important is the implementation of the administrative decision whether intact or wrong, either legally or otherwise. Which led to the implementation of the resolution despite what caused damage beyond the interests of shareholders to contribute to the impact on the national economy. Against the backdrop of this decision collapsed the record (119 points) at the beginning of the month of August, up to 113 points on 26/09/2013, which means the loss of investors (5%) of their wealth during the month and a half. Although this ratio seem insignificant to some, but the monetary value equivalent to about 550 billion dinars from the value of their investments, almost any of the (half a billion dollars) lost by investors from their investments during the month and a half due to a jar pen administrator sits on top of the Iraqi money market pyramid!!. We have no doubt that the government, the Committee on Economic Affairs, the Council of Representatives, and the Economic Committee, and the Integrity Commission are invited to address this imbalance administrative load the efforts of strenuous efforts of all the faithful of the government, parliament and the media and the general public efforts to raise the level of the Iraqi market for securities. It remains the right of all to wonder about than compensates investors for خساراتهم heavy, but compensate Iraq for the deterioration of the reputation of its market and financial escape investors him by the resolution prepared by specialists in the law, a clear violation of articles 340 and 341 of the Penal Code of Iraq, as well as his successor, damage the interests of Iraq’s economic and the interests of investors.
N. particular agency
non14.net
