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Baghdad, December 9 (Rn) - The General Authority for the stock market of Iraq, Friday, House of Representatives to speed up the enactment of a law to join its work with companies and investors, saying that the law developed by the U.S. ruling the interim after the military operations in Iraq, Paul Bremer, not at the level required and the many loopholes.
The executive director of the Iraq market for securities, Taha Ahmed Abdul Salam told the Kurdish news agency (Rn) announced today that "six months ago completed the Iraqi market for securities legal proceedings all the market generated a second, parallel to the market first," adding that "so far did not make any company trading in the the secondary market because of the absence of law, which joins the work of the market. "
He said Abdul Salam, "The electronic systems used by the Iraqi market for securities is what prompted us to create the environment that the second of the newly founded companies that have not completed or even years Nahlh to enter the formal market."
He explained that he "let more than 20 companies, but the response has been weak as the market under the current law can not force any company to join the Stock Exchange," noting that "the House of Representatives to speed up enactment of a law regulating the work of companies within the market, considering that the Company's General Assembly, which consists of shareholders are forcing the company to join the stock market. "
Economists point out that retention of the General Authority of the Iraqi market for securities without regulates the legal description of the work will make the market expansion across the provinces is complex or vulnerable to failure.
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The executive director of the Iraq market for securities, Taha Ahmed Abdul Salam told the Kurdish news agency (Rn) announced today that "six months ago completed the Iraqi market for securities legal proceedings all the market generated a second, parallel to the market first," adding that "so far did not make any company trading in the the secondary market because of the absence of law, which joins the work of the market. "
He said Abdul Salam, "The electronic systems used by the Iraqi market for securities is what prompted us to create the environment that the second of the newly founded companies that have not completed or even years Nahlh to enter the formal market."
He explained that he "let more than 20 companies, but the response has been weak as the market under the current law can not force any company to join the Stock Exchange," noting that "the House of Representatives to speed up enactment of a law regulating the work of companies within the market, considering that the Company's General Assembly, which consists of shareholders are forcing the company to join the stock market. "
Economists point out that retention of the General Authority of the Iraqi market for securities without regulates the legal description of the work will make the market expansion across the provinces is complex or vulnerable to failure.
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