The opening of the Office of Global Exchange in Baghdad is linked to the global British counterpart
The opening of the Office of Global Exchange in Baghdad is linked to the global British counterpart
02.06.2014 (0:01 pm)
BAGHDAD / Acer Jabbar
Announced in the capital, Baghdad, for the opening of the first office of the Stock Exchange world in Baghdad, the first of its kind in the history of Iraq, and among officials in the office getting a leave of absence from the Iraqi government and its association with the London Stock Exchange Global, called financial experts, financial institutions and ministries to put its shares in the Office of the stock market Global Market Development Economic Iraq.
said Director of the Office international exchange in Baghdad, Osama Mahmoud said in an interview to the (long-Presse), “The office was opened about a month ago in the Land of central Baghdad, and began working formally Currently, a first of its kind in Iraq where the customer can have the trading of foreign currencies and metals, such as gold, silver and energy sources, such as oil and gas and global equities through Facebook and Algugl Yahoo and others. ”
said Mahmoud said that “the Iraqi market for securities on shares of Iraq but in the international exchange are interested in global equities,” following that ” Office has a program trading sophisticated be installed on mobiles and computers, and these programs are free and can be downloaded through the website of the stock exchange in Baghdad, also can download the pilot program, which provides an amount of default up to 5 million dollars to enable the rolling of practice on the movements of the markets without causing material losses ” .
pointed Mahmoud that “the international exchange licensed by the Iraqi government and linked to the Stock Exchange of London Global intimately fully and promptly,” pointing out that “the office has a so-called leveraged by (1:400), which means that the customer dollar and the only one able to trade 400 dollars, in order to enhance the investment during trading. ”
and between Mahmoud “The trading volume in the office arrived until yesterday to about 500 thousand U.S. dollars, and this is a good indication as possible that we consider to be the beginning of the trading World,” attributing the cause of lack of demand to the “loss of culture exchange in bourses among the citizens, because the Iraqi citizen has become known what the meaning of the stock market and how to inconsistencies in it. ”
For his part, the financial expert and on the affairs of currency trading and trade on the stock exchange, Ahmed Salhi, in an interview to the (long-Presse), “The opening of such a financial institution is a step to improve the value of Iraqi dinar and the national economy through the size of the exchange and the entry and exit of foreign currency, “calling Ministries producing state and public sector companies to” put its shares in the office of the global stock market in order to play and imports as well as the growing market of Iraq and the Iraqi economy. ”
In spite of the new laws approved by the Iraqi parliament that allowed the foreign investor buying and selling stock in absolute terms in the Iraqi Stock Exchange, after that there were limitations to him as if not more than the percentage of shares owned 49% of the shares of the company, but these laws are adopted to develop the stock market and attract foreign investment have “failed to attract major investors The trading of non-Iraqis in the stock market is weak and limited. ”
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