Securities Commission confirms that the impact of deletion of zeros on the Government of Iraq’s foreign

24/03/2012 10:54

Baghdad, March 24 / March (Rn) – The Authority Iraq Stock Exchange today, 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 suspended its business starting from day Sunday until next Thursday in response of the holiday announced by the Iraqi government. said Executive Director Abdul Razzaq al-Saadi told the Kurdish news agency (Rn) that “the deletion of zeros from… the local currency is currently only being is organizationally and it will not affect the level of trading equity Investment external and internal,” noting that “continuous coordination with the Central Bank to regulate the the process of deleting the zeros and confidence that it will not affect the level of trading domestic and foreign stock exchange. ” 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 the exchange, which also includes the shares of industrial companies and insurance companies, hotels and agricultural companies. From: Jafar Allonan, RN and fulfillment Zangana