Experts expect the withdrawal of small banks with few capital from the stock market
Date: 2012-08-17 13: 47: 36 Friday
Baghdad (News) ... Banking expert improver on the sign, the withdrawal of small banks of funds tipped Iraq market securities if moving to evolution itself, noting that the Iraqi stock exchange need to evolve more easily share trading between companies.
Ali (News Agency news): the Iraq stock exchange since the year (2003) and yet still not encouraging, despite the inadequacy of the existing developments and technological side entry and use of electronic devices, continued: this was due to the fact that the community has limited vision about this market and maybe there is no doubt the role of the securities market to real economic development.
He said that investing in the stock market is invested indirectly through corporations and banks financial development, noting that the Iraqi banking sector still unable to properly fulfil its role in the economic development process, although Iraq was reliable to play important role in the country's economic reform process.
Said: the small Iraqi banks if evolution itself owning large amounts, it would withdraw from the stock once the big banks and capital high may be integrated with other banks because they are not able to compete with these banks.
Iraq has established a market for securities in June (2004) in Baghdad, working under the auspices of the Iraqi Securities Commission is an independent body established on the body like the US Securities and Exchange.
Year ago (2003) current market was called "the Baghdad Stock Exchange", run by the Iraqi Ministry of finance, but now it is self-regulating, and when opened there was (15) companies listed on the market, but now it has been inserted (100) company, and include listed companies in market sectors of banking, insurance, investment, services and agricultural and industrial enterprises and even tour operators, the number of listed companies until April 2012 (86) Inc. /finished/8 n. p