Hue Mi
07-27-2009, 05:34 PM
Promising breakthrough (http://74.125.127.132/translate_c?hl=en&ie=UTF-8&sl=ar&tl=en&u=http://www.theiraqweekly.com/inp/view.asp%3FID%3D3176&prev=_t&rurl=translate.google.com&usg=ALkJrhjoejl64tovsSOGytiYwY9a_vVZ8A)
Abbas Baghdad Algalbi
Published Date 19/07/2009 06:00 AM
The stock market in Iraq
How can the development of the Iraqi market for securities and what are the mechanisms adopted in this development?
The question is, five years after the birth of this market is modest, and in the search for the answer met «weekly» managing director of the market, Taha Ahmed Abdul Salam, who conveyed a perception of the Board of Governors for the next phase.
http://www.theiraqweekly.com/inp/Upload/184946_meduim-824.jpg
Director of the Commissioner of the market, Iraq Stock Exchange, Taha Ahmed Abdul Salam said that the beginnings of change have been achieved as of the nineteenth of April (April) last for the first time in the history of Iraq and the Iraqi Stock Exchange's history, when it held its first meeting in the electronic trading market after the inclusion of five new companies have continued the efforts of Iraqi two years of the time, the installation of equipment and building networks in the market and beyond, and the installation of electronic systems and purification systems, corridors under the instructions and rules for trading the stock exchange, training, testing and rehabilitation of the mediators and staff in the most critical periods in the history of Iraq.
Abdul Salam explained that the Board of Governors approved a plan of the Iraqi market electronic trading after the start of the analysis of the results and all the joints work and review the instructions and controls each facility and links to the procedural, regulatory and shareholding companies and brokers as the company processed in accordance with procedures of the systems summarized by the signing of an agreement with five joint stock companies: the Commercial Bank Bank, UNESCO, Bank Al-Mansour, Al-Mansour Hotel, a hotel bar.
Has begun to deposit transactions shareholders in these companies at the center of the Iraqi statistics, filing the first sittings of the electronic trading pointed out that many investors buy shares and sell them at the same meeting, after less than one minute to the procurement process, which has led and will lead to high turnover of the stock to reach 100% This is achieved for the first time in the history of the Iraqi Stock Exchange.
Abdel-Salam and recognizes the limitations of modern techniques and procedures adopted by the market, he said, pointing at the same time the existence of many of the plans and programs that will improve the performance of the market and the development of indicators and in accordance with the rules of international markets to benefit from the experiences of Arab and international markets.
And director of the market is expected to influence the positive changes that can be performed by the other factor in attracting investment, through the revitalization of a policy of monetary and financial market in Iraq, the interest rate reduction by the Central Bank of Iraq, and the establishment of investment funds by the banks as one of the tools in the market balance between the two sides of supply and demand, which will be able to play the role of market makers, and the development of the financial performance of investment companies by providing them with opportunities to manage their funds and funds with portfolios consisting privileges specified by the Central Bank of Iraq to benefit from the experiences of Arab States in this area.
Free market
The Abdel-Salam said to strengthen the work of the electronic trading market in the Iraq Stock Exchange and the completion of a manual trading will continue in order to focus on the formulation of mechanisms to enhance liquidity and confidence in a free market with the promotion of a competitive internal control and external.
At the same time shows that the market is part of its work to organize the new information model for the private investors on the private investment to build a database of investors and loading systems, at a time when most brokerage firms submitted statements of investors who deal with the opening of accounts for the purpose of private investment, and the registration of listed companies in the market of the International Atomic numbering.
Abdel-Salam emphasize here that this registration is necessary to meet the requirements of the electronic trading system and the mediators produced by the new shareholders of the companies contributing to the market, it is known companies on the levels of the Iraqi International Classification.
In terms of financial investment companies (the financial institutions to empower investors and savers, of the annexation of the money that has money to others, to invest in the stock market as well as to invest its funds in the establishment of new companies in various aspects of economic activity and increase the capital formation of the economy) to the Commissioner says the Director of Iraq's Stock Market Finance that it could not fulfill its designated role efficiently, for reasons outlined in the vulnerability of the company's capital as well as financial ratios and restrictions set for use with the purchase of capital securities.
According to Abdel-Salam said among other reasons which formed the administrative cost of the investment companies, in addition to commissions paid to brokerage firms, non-catalytic factor for investment, because investors prefer the normal administration of the investment portfolio for himself the payment of such Alaclav and loss of part of the profits in the absence of services information provided by the companies that do not invest in Iraq, like the specialized companies in the world, pointing out that the return on shareholding companies have not been encouraging over the past three years, if not non-existent due to the risks generated, and therefore the financial investment companies failed to achieve any success in the business.
The attention of Abdel-Salam said the real objective of the founding of these companies has been the establishment of investment companies because of the limited financial capital, and erosion due to inflation during the nineties and the current decade.
It should be noted that some researchers attribute the reason for the faltering investment firms in the functions not to grant leave to the mediation in the Baghdad Stock Exchange, and then in the Iraqi market for securities, forgetting that this type of company is the largest and most important tasks of the role of intermediary in the market.
And the new plans that lead to actively promote investment securities in Iraq believes that it Abdel-Salam is the transfer of shareholding companies during the year 2009 inevitably to electronic trading, as well as the inclusion of joint stock companies after the availability of new listing requirements, according to the requirements of the law of financial markets and the new listing procedures from the the securities and the follow-up to the companies that have been suspended for the circulation of its non-disclosure standards in coordination with the securities, and to begin to examine and approve the inclusion of non-Iraqi companies, especially those that will start its projects in Iraq through its Global Holdings, as well as benefit from the advantages of adherence to the Arab Monetary Fund , as a database of Arab financial markets, stock exchanges and cooperation with Arab and benefit from their experience in the activity and the use of comparative and competitive advantages offered by the Fund, as well as upgrading the skills of staff through the courses it offers.
Among the plans proposed by the managing director of the market that the market for a basic role in the implementation of the privatization of public sector companies at the time of the privatization law in Iraq, as well as the development of the means of disclosure and dissemination of information and publication of bulletins, reports and programs in the media and on various Web site, to raise awareness of the investment and the upgrading of services to be provided to investors and non-Iraqis to use electronic systems.
The new project will be the first to activate the market by the agreement with the company for information, which will cover the performance of the Iraqi Stock Exchange in addition to direct coverage of the Arab stock markets and to continue to produce a guide to contribute to Iraqi companies, which provides information and data in the fiscal year for these companies, which reflects the fact that its financial position.
Abbas Baghdad Algalbi
Published Date 19/07/2009 06:00 AM
The stock market in Iraq
How can the development of the Iraqi market for securities and what are the mechanisms adopted in this development?
The question is, five years after the birth of this market is modest, and in the search for the answer met «weekly» managing director of the market, Taha Ahmed Abdul Salam, who conveyed a perception of the Board of Governors for the next phase.
http://www.theiraqweekly.com/inp/Upload/184946_meduim-824.jpg
Director of the Commissioner of the market, Iraq Stock Exchange, Taha Ahmed Abdul Salam said that the beginnings of change have been achieved as of the nineteenth of April (April) last for the first time in the history of Iraq and the Iraqi Stock Exchange's history, when it held its first meeting in the electronic trading market after the inclusion of five new companies have continued the efforts of Iraqi two years of the time, the installation of equipment and building networks in the market and beyond, and the installation of electronic systems and purification systems, corridors under the instructions and rules for trading the stock exchange, training, testing and rehabilitation of the mediators and staff in the most critical periods in the history of Iraq.
Abdul Salam explained that the Board of Governors approved a plan of the Iraqi market electronic trading after the start of the analysis of the results and all the joints work and review the instructions and controls each facility and links to the procedural, regulatory and shareholding companies and brokers as the company processed in accordance with procedures of the systems summarized by the signing of an agreement with five joint stock companies: the Commercial Bank Bank, UNESCO, Bank Al-Mansour, Al-Mansour Hotel, a hotel bar.
Has begun to deposit transactions shareholders in these companies at the center of the Iraqi statistics, filing the first sittings of the electronic trading pointed out that many investors buy shares and sell them at the same meeting, after less than one minute to the procurement process, which has led and will lead to high turnover of the stock to reach 100% This is achieved for the first time in the history of the Iraqi Stock Exchange.
Abdel-Salam and recognizes the limitations of modern techniques and procedures adopted by the market, he said, pointing at the same time the existence of many of the plans and programs that will improve the performance of the market and the development of indicators and in accordance with the rules of international markets to benefit from the experiences of Arab and international markets.
And director of the market is expected to influence the positive changes that can be performed by the other factor in attracting investment, through the revitalization of a policy of monetary and financial market in Iraq, the interest rate reduction by the Central Bank of Iraq, and the establishment of investment funds by the banks as one of the tools in the market balance between the two sides of supply and demand, which will be able to play the role of market makers, and the development of the financial performance of investment companies by providing them with opportunities to manage their funds and funds with portfolios consisting privileges specified by the Central Bank of Iraq to benefit from the experiences of Arab States in this area.
Free market
The Abdel-Salam said to strengthen the work of the electronic trading market in the Iraq Stock Exchange and the completion of a manual trading will continue in order to focus on the formulation of mechanisms to enhance liquidity and confidence in a free market with the promotion of a competitive internal control and external.
At the same time shows that the market is part of its work to organize the new information model for the private investors on the private investment to build a database of investors and loading systems, at a time when most brokerage firms submitted statements of investors who deal with the opening of accounts for the purpose of private investment, and the registration of listed companies in the market of the International Atomic numbering.
Abdel-Salam emphasize here that this registration is necessary to meet the requirements of the electronic trading system and the mediators produced by the new shareholders of the companies contributing to the market, it is known companies on the levels of the Iraqi International Classification.
In terms of financial investment companies (the financial institutions to empower investors and savers, of the annexation of the money that has money to others, to invest in the stock market as well as to invest its funds in the establishment of new companies in various aspects of economic activity and increase the capital formation of the economy) to the Commissioner says the Director of Iraq's Stock Market Finance that it could not fulfill its designated role efficiently, for reasons outlined in the vulnerability of the company's capital as well as financial ratios and restrictions set for use with the purchase of capital securities.
According to Abdel-Salam said among other reasons which formed the administrative cost of the investment companies, in addition to commissions paid to brokerage firms, non-catalytic factor for investment, because investors prefer the normal administration of the investment portfolio for himself the payment of such Alaclav and loss of part of the profits in the absence of services information provided by the companies that do not invest in Iraq, like the specialized companies in the world, pointing out that the return on shareholding companies have not been encouraging over the past three years, if not non-existent due to the risks generated, and therefore the financial investment companies failed to achieve any success in the business.
The attention of Abdel-Salam said the real objective of the founding of these companies has been the establishment of investment companies because of the limited financial capital, and erosion due to inflation during the nineties and the current decade.
It should be noted that some researchers attribute the reason for the faltering investment firms in the functions not to grant leave to the mediation in the Baghdad Stock Exchange, and then in the Iraqi market for securities, forgetting that this type of company is the largest and most important tasks of the role of intermediary in the market.
And the new plans that lead to actively promote investment securities in Iraq believes that it Abdel-Salam is the transfer of shareholding companies during the year 2009 inevitably to electronic trading, as well as the inclusion of joint stock companies after the availability of new listing requirements, according to the requirements of the law of financial markets and the new listing procedures from the the securities and the follow-up to the companies that have been suspended for the circulation of its non-disclosure standards in coordination with the securities, and to begin to examine and approve the inclusion of non-Iraqi companies, especially those that will start its projects in Iraq through its Global Holdings, as well as benefit from the advantages of adherence to the Arab Monetary Fund , as a database of Arab financial markets, stock exchanges and cooperation with Arab and benefit from their experience in the activity and the use of comparative and competitive advantages offered by the Fund, as well as upgrading the skills of staff through the courses it offers.
Among the plans proposed by the managing director of the market that the market for a basic role in the implementation of the privatization of public sector companies at the time of the privatization law in Iraq, as well as the development of the means of disclosure and dissemination of information and publication of bulletins, reports and programs in the media and on various Web site, to raise awareness of the investment and the upgrading of services to be provided to investors and non-Iraqis to use electronic systems.
The new project will be the first to activate the market by the agreement with the company for information, which will cover the performance of the Iraqi Stock Exchange in addition to direct coverage of the Arab stock markets and to continue to produce a guide to contribute to Iraqi companies, which provides information and data in the fiscal year for these companies, which reflects the fact that its financial position.