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Economists call for the opening of the exchange in Holidays
1/15/2012 6:46
Baghdad / term
economists called for Iraqis to open the Iraqi market for securities in the days of Friday to continue with the global market.
The director of the center of the Iraqi market to Ke Ji told the Kurdish news agency (Rn) that "the Iraqi Stock Exchange is still stock boys and need to communicate with the world stock exchanges to attract equity and not in their interest that the disruption in the days of collection. "
"The Iraqi Stock Exchange advanced well during this period thanks to good management have and diversify the stock investment that participate in the stock market but you must be affected by holidays and special occasions."
He said, "the holidays and occasions, one of the main problems that stand in front of the Iraqi economy and caused many problems, including widening the gap between global markets and the Iraqi market for securities. "
The director of Institute of Economic contrary goldsmith in a press statement that "the law of the Securities Commission needs to be adjusted to regulate the day the stock market," adding that "the work of the Iraqi Stock Exchange has not yet reached the level of global stock markets due to availability of supplies necessary for the development work and ensure the money shareholders active in it. "
He said, "the problem of the Iraqi Stock Exchange is a reflection of the problems of the Iraqi market already that prefer imported goods on the domestic product in addition to the effects of the security situation on the stock market."
He pointed out that "the opening of the Iraqi Stock Exchange and exchange transactions Finance must be real and lead to actual investments reflected positively on the Iraqi economy. "
turn ruled out the Executive Director of the Securities Commission Abdul Razzaq al-Saadi, damage due to the holiday, "the bourse related to internal affairs of government and associated with the work of banks," he said, adding that the stock exchanges in the world crashes and does not have any damage to the trading stock because the stock market is linked to macro-economic of the country. "decided Securities Commission shut down the work of the Iraqi market for securities on Thursday. As said the Securities Commission, said that Iraq's progress on the countries of the region the size of financial trading increased by 70%.
and started the Iraq Stock Exchange financial preparations preliminary to gain membership in the global market for securities, also announced the start electronic filing of corporate foreign investment and local, rather than filing paperwork.
The Iraq Stock Exchange has started its activity in 2004, and shifted from manual trading to the use of screens handle electronic in 2009 and open for trading two hours a day five days a week.
The banking sector is the largest in the exchange, which also includes the shares of industrial companies and insurance companies, hotels and agricultural companies.
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