Drop in circulation in the Iraqi Stock Exchange share prices during the current month

Iraq Stock Exchange revealed, on Thursday, a decrease of shares traded prices during this November month, confirmed that the shares of banking companies were "most affected", as it called "non-deduction of" financial penalties imposed on the banks of its revenue, because part of it is a unexpected profits to shareholders. The executive director of the market, Taha Ahmed Abdul Salam said in a statement seen by the agency of our economy news that "the available indicators point to lower stock traded prices during November current 2015", noting that "the value of the index fell from 781 points in October last close, to 655 points at the closing session on Wednesday. " He said Abdul Salam, that "the hardest hit stocks in decline are those private banking companies," attributing the reason to "decline of the Iraqi economy indicators, global oil prices, as well as the weakness of bank liquidity movement, low depositors and fines confidence imposed on the banks by the Central Bank Iraq, as a result of irregularities during the last two years. "

And saw the Executive Director of the market, that "the fines imposed on banks, should not be deducted from revenues, because part of it is the unexpected dividend for shareholders," calling to "deduct those fines that have not provided adequate documentation and matching regulated by the Central Bank of Iraq."

Said Abdul Salam, that "other reasons led to the decline in stock prices, such as high sale offers foreign investors compared to purchase orders, especially after an assessment of the Iraqi economy (B-), and not to take new steps to attract foreign investment."

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