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12-17-2013, 01:41 AM
ASE qualifications make them near Central station (http://www.alsabaah.iq/ArticleShow.aspx?ID=60419)

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17/12/13 12: 00 am

Efforts to revitalize the role of the financial sector development

Baghdad-Hussein thghb Al-Tamimi

Specialized seminar discussed by the Board of Governors of the Iraq stock exchange market mechanisms develop capital market investments in Iraq. the Symposium addressed the Chairman of the Securities Commission, Dr. Abdul-Razzaq Al-Saadi and representatives from private banks and the Iraq market for securities areas critical to move, stimulate and develop the banks and stock market performances as key partners in the Iraqi economy highlighted by durability show custodian and investment portfolios and clearing.

Chairman of the Board of Governors of the Iraq market for securities, Jalil said that the Symposium dealt with slaves several axes represent the cornerstone of the work of the Iraqi stock exchange, so we activated by interaction with the specialists representing Iraqi banks and financial and banking affairs.

Custodian

Obaid said in an interview for "morning" that the seminar addressed several axes foremost custodian service provided by Iraqi banks and financial settlement service attached to securities (clearing) of the Iraq market for securities, as well as the establishment of investment portfolios for banks and non-banks included requirements in the market and the importance of inclusion, noting that the seminar also addressed the processes of capital increase by way of subscription, retrieve surpluses.

Activation of investment

As Chairman of the Securities Commission Dr. Abdul-Razzaq Al-Saadi stressed in his speech the importance of working towards activating investment in Iraq market for securities and of the development of the work of the local stock market which has achieved major successes in the past, so we were able to build sophisticated systems to manage the trading go joints of traditional trading to electronic trading, pointing out that the investor can see the stock through modern technology and operations of purchase and sale.

Distribution of CDs

Saadi noted the importance of clearing between domestic banks, indicating the importance of mechanisms advertised now, go to the distribution of benefits to the greatest number of banks, where you can choose banks that have sophisticated systems to help them manage the process of clearing.

Returned slaves to that of a custodian that is one of the banks managing the portfolio paid as recognized in law, and is implemented by a local bank or branch of a foreign bank, called on local banks to go to adopt this system, which increases confidence in the Bank. The custodian is the third episode of the Iraq market for securities and Stock Exchange Management check.

The CVM focused efforts towards this service that chime and the investment process in the market, particularly the custodian system exists in most countries of the world, Europe and America.

Investment portfolios

Obeid also addressed a detailed investment portfolios that are owned by the Bank and its role in the investment process, but weak banks, which needs to be activated to be supportive of the economy, stressing the importance of banks should start now to build portfolios.

The slaves executing plans for the current year through Dec. 12, which included organizing (223) trading session on the stock exchange and five meetings per day and the number of shares traded (867) billion shares with a total value of (2, 8) trillion dinars, pointing out that the number of listed shares (4, 5) trillion shares after capital increases occurring this year.

Implementing plans

He explained that the implementing plans with regard to disclosures by the rules about deals and news publishing companies and public bodies, resolutions and stop the launch of trading in shares of listed companies, and the shares increase after an authentication modification of holding companies, as well as daily oversight on the implementation of the electronic trading rules and periodic oversight activity for brokerage firms, has also been shut down trading in shares of companies not eligible for disclosure regulations, the shares of companies that meet disclosure requirements be provided for annual and quarterly data.

Extensive discussions

It was during the extensive discussions by the participants and reviews of interest to develop the performance of the financial sector, banks and the stock exchange corner, as well as mature proposals in support of the Governors of the market aimed at moving forward the stock levels to rise to the levels of global exchanges.