An invitation to open to the public for the activation of indirect investment

3/22/2016 0:00

BAGHDAD - Mostafa Hashemi
At a time when Iraq Stock Exchange has renewed its emphasis on the establishment of a workshop and special annual ceremony electronic trading on the advertised date, between academic economic necessity of opening up the stock market more widely to the public to raise awareness on the subject of indirect investment to support the economy.
The economist said the academic Dr. Majid Baidhani: The «next economic phase requires increased trading activity in the securities of the Iraqi market, which is raising the level of public awareness and clarify the idea of ​​indirect investment equity for companies listed and traded on the Iraq Stock Exchange».

Experience and know-how

He noted in an interview with «morning» to the existence of a slice of citizens familiar with the mechanisms of the sale and purchase and conclude contracts and trading by continuing to attend five meetings of the market or through constant communication with financial intermediaries who take the task of dealmaking in agreement with them on their behalf.
The Iraq Stock Exchange had earlier announced its intention to set up a workshop in the twenty-third of the month of April under the title «the role of electronic trading and the rules Iraq Stock Exchange in stimulating investment.»
This comes at a time when the stock market seeking to play their role in the local economy and discussed efforts to enhance the role of the private sector companies to contribute to gross domestic product and support Iraq's economy.

The role of companies

Baidhani explained the importance of the private sector companies to take an active role in the national economy by offering its shares for trading and those are companies to the responsibility to provide various services to the public, in addition to its commitment to be bound by the criteria of transparency and disclosure, which promise two pillars in circulation and earn
Public confidence.
He called on those in charge of the market to find ways to make advancement by the stock market, they are the most prominent indirect investment markets in the country through greater openness to the public, especially that there are good number of foreign traders «Company and Sellers» in the market they are trading-mail from within their own countries and hold daily deals they bring profits.

Workshop topics

A source in the Iraq Stock Exchange has stated »Sabah» that the workshop, which will be held in the Baghdad Hotel bows Hall, will include the establishment of five presentations or axes looking at ways to invest in the securities sector development, where will premiere eating seeing Iraq Stock Exchange, The second technological development and future plans, while the third deals with the offer proposals investment securities attraction.
He stressed that he will be during the workshop launch discussions and proposals aimed at the development of investment in the securities sector and discuss the most prominent ways to advance own reality.
He noted that on the occasion of the seventh anniversary of the launch of the electronic trading system will be the opening of the exhibition of information and display products joint-stock companies, which will be held during the workshop which will allow to meet investors and communicate with them and look at the indicators and achievements of the companies as well as its future plans.
Market index

Yesterday saw the first Sunday session Akedza stock index green «high» to 2.33 percent to 13.71 points. It was trading 3 billion and 574 million and 526 thousand and 176 shares valued at 827 million and 188 thousand and 58 dinars, achieved through the implementation of 456 contract traded.
Have been trading shares of 39 companies out of 98 companies listed in the market shares of 21 companies, including prices and shares fell 9 other companies, while preserving nine companies on the prices of shares.
The Iraq Stock Exchange consists of 98 listed company with a total capitalization of more than 8 trillion shares represents the banking sector, including 5 trillion shares and thus be the most heavily traded sector and 65 percent of the total shares traded per day. And it regulates the Iraq Stock Exchange five weekly trading sessions from Sunday to Thursday.