Stock market calls for the establishment of a "guarantee deposits" institution 9/26
Stock market calls for the establishment of a "guarantee deposits" institution to gain the confidence of investors
9/26/2015 0 Comments
Long-Presse / Baghdad
Iraq Stock Exchange called, on Saturday, to create a "Deposit Insurance Corporation" to protect depositors and earn "" investor confidence, and proposed the launch of a "national investment fund" to promote the value of investments, and as revealed that the banking sector represents 62% of the market shares, demanded a plan International Classification to overcome the "bad" of the Iraqi economy.
The executive director of the market, Taha Ahmed Abdul Salam said in an interview to the (long-Presse), "The banking sector is one of the most prominent themes driving the Iraqi market for securities, and any impact on the work of banks will reflect negatively on the market work," noting that "the banking sector represents 62% of the total of the Matrouh shares in the market. "
He said Abdul Salam, that "the investment portfolio of the key drivers for the market one way or another, so the banking sector composition of the investment province within the same sector, and the issuance of portfolio management for investment funds and corporate financial investment instructions by the Securities Commission and the Central Bank of Iraq."
He called Abdul Salam, to "the establishment of the Deposit Insurance Corporation to protect depositors in the government and private banks and earn the confidence of investors and savers in Iraqi banks and contribute significantly to the stock market."
He stressed Abdul Salam, "the need for continued cooperation between the Iraqi government and the private sector", calling for "the launch of a national investment fund to which they contribute and the Ministry of Finance and the Central Bank of Iraq and government funds and government and private banks, in order to enhance the value of investments."
He called Abdul Salam, "to work to overcome Category bad for the Iraqi economy by the international financial institutions, increasing the lead (B minus) through a well-defined plan," calling for "not to neglect the international classifications and publish its recommendations to investors in order to preserve the value of existing investments and maximize the future value of investments and amending the provisions of the prevailing and instructions issued by the laws that hinder the development of investment and financial tools. "