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D. Saadi: we go to create a fund to enhance investment performance of the stock market
05/13/2012 0:00
During the inauguration of the annual conference of the Stock Exchange
of Baghdad - morning,
set up the Iraqi market for securities Second Annual Conference on the sidelines celebrating the third anniversary of launch of online trading in the market.
In the opening speech Prime Haihalaorac Finance Dr. Abdul Razzaq al-Saadi, that the Authority is seeking to build a culture of investing in the Iraqi Stock Exchange, control and enhance confidence in the market.
He also managed the Authority since its inception to strengthen its legislative and regulatory by issuing a full range of regulations and laws.
and said it was for the start of electronic trading a positive effect in increasing the volume of trading rose by more than 200 percent than it was in manual trading, expressing hope to increase the number of listed companies on the market that contribute to the diversification of the elements of work for the advancement of the stock market, pointing to the importance of the brokerage firms and listed companies and all the all stakeholders in this system to activate their roles in order to achieve the goals of the market.
then Chairman of the Conference Chairman of the Board of Governors of the market Leith Tamimi ruled paper work, which focused on the importance of financial disclosure and thus contributing to enhance the performance and effectiveness of the Iraqi market for securities hoping to resolve the situation for the company is still lagging behind in the disclosure of revenues and profits and activity. He pointed out that the inclusion of shares of mobile phone companies, multiplying the volume of trading in the stock market to the presence of a number of investors who wish to go towards those companies that they think that shares a winning nor exposure to future losses.
The second worksheet was to a member of the Board of Governors, Dr. Salah al-Din ahead and tagged the role of market Iraq Stock Exchange in economic development from that economic growth is a concern of States to its importance and its association with the performance of economic institutions.
and then were presentations and discussions on developing the performance of stock market in which a number of those present that led to the consensus of the importance of stock market as a bright face of the Iraqi economy and the stock indices are reflect the strength of this economic activity, and those successful companies.
In the intervention to the President of the Securities Commission, Dr. Abdul Razzaq al-Saadi, revealed that there is a tendency to push ahead with the establishment of the Investment Fund, which represents several views from the public and private sectors and managed by the Commission and will contribute to the industry a new market is reflected on the Iraqi economy, a fund supporting for companies and for the market and investors alike.
He noted that next year will see the inclusion of mobile phone companies in the Iraqi market for securities after the complete transformation into joint stock companies, and that this approach leads to an expansion of trading within the market and do the movement of stock to the presence of a great desire to public investors in the demand for shares of these companies.
while urging a professor at the College of Business and Economics, Dr. Abdul Salam Said the Securities Commission and managing the market the need to find mechanisms for encouraging companies to include in the market by facilitating transition from private companies to joint-stock companies in order to be acceptable in the drawer.
either Executive Director of the market, Taha Ahmed Abdul Salam, has confirmed the existence of these mechanisms in the Companies Act as hinted that the law the Securities Commission with the new If approved, it includes the transfer of authority to the Securities Commission and at that contribute to the development of the simplified mechanisms for incorporation.
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