Member of Finance Committee: Securities Commission to require a new law regulating its work
Member of Finance Committee: Securities Commission to require a new law regulating its work
On: Sun 24/06/2012 11:42
Baghdad (news) .. Member suggested the Finance Committee MP / National Alliance / Secretary Hadi legislation a new law on the Securities Commission to regulate the work, calling for development of the work the Iraqi Stock Exchange because it reflects the economic activity in the country.
said Hadi (to the Agency news) on Sunday: Each financial institution must and serve the law of discreet organize their work and otherwise would be affected the national economy, noting that the Securities Commission Maya has a law, but is not integrated and require new legislation by the government and voted on by the House of Representatives. He added, must be subject to the law of financial control and control of the House of Representatives because the stock market is indicator of the world of the national economy, and maintain the structure and its law is necessary. and between: the index of the stock market reflects economic activity in the country, when the rising index means the economy is growing while the opposite means the economy is down, stressing that the development of the Iraqi Stock Exchange is necessary to revive the national economy through the implicated systems, modern electronic. was founded the Iraqi market for securities in June (2004) in Baghdad, working under the supervision of the Securities Commission of Iraq, an independent body was established as the U.S. Securities and Exchange. A year ago (2003) was released on the market the current name of “Baghdad Stock Exchange” and run by the Iraqi Ministry of Finance, but now it is the self-regulating and, when it opened there was a (15) companies listed on the market, but now Vtm the inclusion of (100) companies, including listed companies in the market sectors of banking, insurance, investment and services and industrial, agricultural and even tourism companies, and the number of listed companies until April 2012 (86). / Finished / 8. d. Q /
Source: ikhnews
