Executive Director of the Stock Exchange: Lower stock prices during 2015 by 26% due to the financial crisis

BAGHDAD / Jassim Al-Karim al-Tai / .. Executive Director of the Iraqi market for securities, Taha Ahmed Abdul Salam, the existence of a decline of 26% of the stock price because of the financial crisis revealed during the current year
2015, said Abdul-Salam said in a statement singled out by the (agency economic dinars) that the market market index closed at (995 944) points in the first feeler trading and closed at (730 560) points in the last trading of the 2015 session, the index reached a decline of (26%). Indicating that the reason for this decline is due to the financial crisis in general and Iraq experienced by the world at large particularly as a result of lower oil prices.
Abdul Salam said that the effects of financial market indicators economic indicators through the capital and the movement of foreign trade and the net trade balance and levels of employment and inflation cycle and the ability of companies to generate profits and to continue in comparison with the potential for investment risk activity, but the trading indicators in the Iraqi market Securities approached from the expected levels and continued trading mechanisms to achieve investors and shareholders targets are equivalent to the financial position indicators of joint stock companies and the expectations of investors.
and between Abdel-Salam said Iraq Stock Exchange achieved during the current year 2015 Machert in organizing (233) trading session at the rate of five meetings a week as well for inclusion (98) Iraqi joint-stock company with a number of shares listed (8.712) trillion Shm.fima number of shares traded reached 618 billion shares worth 495 billion were traded through (120.978) Akd.makda that the market value of listed shares amounted to Market (9265) trillion dinars.
He Abdel-Salam said the most important factors that influenced the traded stocks during the current year 2015 is the destruction of infrastructure and components of capitalism material produced by the criminal gangs of gangs Daash and the decline of the Iraqi economy indicators after the sharp decline in oil prices, 2014 and 2015 and transforming the economy from a surplus economy to economy Adz.baladavh not to the evolution of the contribution of the private sector in the composition of GDP for structural reasons and the lack of the legal climate is encouraging the development of the founding contribution and attract national and foreign savings companies so that you do not build a new investment opportunities add to the capital formation of the Iraqi economy and contribute to the expansion and diversification of the investor base through new issuance absorb unemployment and contribute to private sector growth.
He said Abdul Salam that reason affected by lower shares traded price during the current year 2015 is also the inability of the banking sector to finance development projects and the weakness of the existing banking services and not to create banking services new as well as change the decisions of investors as a result of economy rating of Iraq ( B) as well as the lack of a development proposed laws to respond to the requirements of austerity and deficit financing economy in 2015.baladavh not to the evolution of the means of national and foreign investment attraction and only the increase of capital as a source of funding and the failure to approve the instructions for issuing and trading Help bonds and portfolio management and components and not to allow companies to exercise the role of a market maker by purchasing a portion of its shares to absorb the decline in prices. Stressing that the continued weak financial position of the sectors of industrial, agricultural, tourism and insurance and investment portfolios for investment companies for the continuation of the structural, financial and legal where obstacles along with variables that have to do with foreign trade is restricted.
He noted Abdul Salam that the market promising plans for the development of work during 2016 in terms of general policy of the market and monitor the performance and discuss and propose means stimulate investment securities in collaboration with the Securities Commission and the Central Bank of Iraq and the proposal to amend and issue new instructions concerning the regulation of securities trading and the organization of portfolio management and allow companies to contribute to the purchase of proportions of shares at low prices big deals and the proposed amendments to the laws that contribute to the stimulate investment. As well as to follow up the implementation of the Iraqi market plans Securities Depository Center, discuss and approve the development of electronic systems plans.