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BatmaninIraq
08-08-2016, 10:00 AM
Iraq Stock Exchange is preparing to launch investment funds and expert prepared "solution" to the problems of funding and unemployment


 Baghdad / Acer Jabbar

Iraq Stock Exchange confirmed, on Sunday, seeking to put the instructions to attract national and foreign savings towards investment and add new financial instruments for trading in collaboration with the Central Bank, as called for an expert to give the fund a priority in economic development, they returned they are a "viable solution" to the problems of funding experienced by Iraq and provide more job opportunities.
Said Executive Director of the Iraqi market for securities , Taha Ahmed Abdul Salam, in an interview to the(long - Presse), " The Central Bank of Iraq face of market Preparedness to launch investment funds , " noting that " the committee set up by the market to prepare a draft investment funds licensed instructions held its first meeting in the (17 July 2016), and is continuing its work. "
said Abdul Salam, that" the Commission , which includes representatives from the Iraqi Central Bank and theSecurities Commission and the Iraqi market for securities and the Department of Registration of companies, based on its work to the Arab financial markets experiences in organizing those Help to attract national and foreign savings into investment in securities, and the addition of new financial instruments in circulation. "
and the number of sessions and the numbers of shares traded during the month of July, assured theExecutive Director of the market," the Iraq stock Exchange systems in the month of July 14 trading session, six sessions have not organized in the same month due to the Eid al - Fitr and official holidays leave. "
said Abdul Salam that" the number of companies traded for shares in the market amounted to (58) joint -stock company, while the number of shares traded (131.927) billion shares, thus achieving an increase of 33 compared% with June , "noting that" the value traded (39.562) billion dinars , thus achieving an increase of 23% compared with June. "
He continued that" the market index closed at the end of the month of July 2016 on the (568.770) points , up by 5% compared to close the month of June of $ (539.47) points , "noting that" the market has the highest altitude record during the month 07.28.2016 session when it closed at (568.77) points , and the lowest low when it closed at (538.210 points) in 12/7 session / 2016. "
He pointed Abdul Salam that" the market value of shares listed on the market rose by 2% compared with June. "
and the director of the market, that" the number of shares bought for non - Iraqi was (22.041) billion shares were traded through (647) purchase of a deal reached value (9.556) billion dinars from trading shares of 24 listed company, but sold shares of non - Iraqis have reached (789.967) million shares were traded through 325 transactions sale, amounting to (731.497) million shares (7 ) listed shareholding.
the Iraq stock Exchange revealed, in the July 5, 2016, for a decrease in the value and number of shares for the month of June compared with last May.
for his part, teaching at the College of management and Economics University of Baghdad , Salah al - Habib said in an interview to the (long - Presse), the there is a "trend is serious for the establishment of investment fund which represents the several views of the public and private sectors and is managed by theCommission," returned it "will contribute to the new market industry is reflected positively on the Iraqi economy and supports companies and investors alike."
he called the economic expert, to the need " to grant investment funds priority in the economic development process, particularly in the industrial and agricultural production sectors, to include then the whole other sectors, "pointing out that" investment funds represent a viable solution to the funding problems experienced by the national economy, as well as its significant role in the development of the productive sectors and operation of major strategic projects currently stalled and enable them to profit and to achieve the highest degree of viability of the local economy. "
He emphasized Habib, the" activation projects through investment funds also lead to the development ofsupport such as transport sectors, as well as provide employment opportunities for a large segment of unemployed youth , "stressing the importance of " privatization of companies public, especially industrial and converted into a joint stock after activating the productive role through the adoption of sovereign investment funds, especially since much of the world has adopted it and achieved positive targets Tnagmt and ambition to achieve sustainable development.
"said Habib, that" the sovereign funds operate in a manner finance a factory or a company and then IPOs in the financial market to encourage demand for them after you become a profitable company, "but he also said," but not all investors in this area have enough experience, so it helps to activate the investment funds in the development work in the Iraq Stock Exchange after it is converted companies to contribute the shares offered on the stock market for investors, also helps in raising foreign capital invested in the stock market ,which in turn is a win - win situation for the local economy and bring considerable economic feasibility of thecountry. "
the suffering of Iraq based on oil exports rentier economy to finance its expenditure by more than 96%, as well as problems facing investment projects in various governorates of Iraq.