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Economist: technical reasons and lack of transparency in some companies without resolving its entry into the Iraqi market for securities
Group: Economy
Published on Monday, 16 December 2013 18:18
BAGHDAD - Awan
Revealed an economist, on Monday, for technical reasons, and other companies related to the rejection of its accounts revealed in front of shareholders, which prevented the entry of some of the companies to the Iraqi market for securities.
The economist said the name of Anton, for "time", that "not to enter some of the companies to the Iraqi market for securities be for two reasons: The first is for technical reasons, as some of them had a problem related to the conditions of entry to the stock market, where you need some companies to prepare budgets quarterly and other annual, also requires these companies to announce its figures for the existing censorship. "
The Anton to "lack of administrative apparatus and technical enough, and the lack of conviction among some officials of these companies pay companies not to engage in Alosouk," explaining that "The second reason is the pursuit of these companies to retain their numbers and without informed them, making them fear for their entry into the market universe the latter requires sufficient transparency by declaring the obvious numbers, and inform the shareholders on their accounts and continue to provide documents and data to the Securities Commission. "
He noted that "the security situation has been a burden on this issue, but now they do not constitute a reason for non-disclosure of the company's assets and business carried out by the company."
Abdul Razzaq al-Saadi, head of the Securities Commission said earlier in the day, Monday, that "the reluctance of some companies for possible reimbursement in the market Securities is the fear of disclosure and transparency," noting that "the body constantly call from recording companies and the central bank to urge the companies to being inserted in the market because of their impact on the development of the Iraqi economy, in addition to what would be the company's transparent and clear to have. "
He said al-Saadi "There is more than a law that contradicts with our goals and aspirations in the development of the reality of development in the country, including the Companies Act and the Banking Act also," and urged the concerned authorities to "give priority to joint stock companies in the market to deal with the joints of the other country."
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Group: Economy
Published on Monday, 16 December 2013 18:18
BAGHDAD - Awan
Revealed an economist, on Monday, for technical reasons, and other companies related to the rejection of its accounts revealed in front of shareholders, which prevented the entry of some of the companies to the Iraqi market for securities.
The economist said the name of Anton, for "time", that "not to enter some of the companies to the Iraqi market for securities be for two reasons: The first is for technical reasons, as some of them had a problem related to the conditions of entry to the stock market, where you need some companies to prepare budgets quarterly and other annual, also requires these companies to announce its figures for the existing censorship. "
The Anton to "lack of administrative apparatus and technical enough, and the lack of conviction among some officials of these companies pay companies not to engage in Alosouk," explaining that "The second reason is the pursuit of these companies to retain their numbers and without informed them, making them fear for their entry into the market universe the latter requires sufficient transparency by declaring the obvious numbers, and inform the shareholders on their accounts and continue to provide documents and data to the Securities Commission. "
He noted that "the security situation has been a burden on this issue, but now they do not constitute a reason for non-disclosure of the company's assets and business carried out by the company."
Abdul Razzaq al-Saadi, head of the Securities Commission said earlier in the day, Monday, that "the reluctance of some companies for possible reimbursement in the market Securities is the fear of disclosure and transparency," noting that "the body constantly call from recording companies and the central bank to urge the companies to being inserted in the market because of their impact on the development of the Iraqi economy, in addition to what would be the company's transparent and clear to have. "
He said al-Saadi "There is more than a law that contradicts with our goals and aspirations in the development of the reality of development in the country, including the Companies Act and the Banking Act also," and urged the concerned authorities to "give priority to joint stock companies in the market to deal with the joints of the other country."
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