Securities confirms high indicators and experts reveal their shares decline and urge the savings banks

23/04/2016 18:12

Long-Presse / Baghdad

Iraq Stock Exchange, confirmed on Saturday that the first three months of this year, indicators, was "positive" compared with those of last year, 2015, and suggested that contribute to dependence trading system after increasing the number of investors, with experts from falling stock prices and the activity of circulating revealed because of the repercussions of the economic situation and not to approve the law of the market, called on citizens to "to deposit their money in banks as well as to activate the market they constitute half of the shareholders."

This came during a workshop hosted by the stock market on the occasion of the seventh anniversary of electronic trading, under the title (the role of electronic trading and the rules Iraq Stock Exchange in the revitalization of the economy), the Baghdad Hotel, the center of the capital, and attended (range Press).

The executive director of the market, Taha Ahmed Abdul Salam, in an interview to the (long-Presse), "The workshop discussed how to support the joint-stock companies through investor-friendly legal procedures, and to encourage Almzchrin to contribute to the development of funds to contribute to increasing GDP companies' capital," noting that "The market will launch the trading system remotely for investors and to establish a new joint-stock companies."

He said Abdel-Salam, the "electronic trading transfer of the Iraqi market for securities of paperwork that hinder the work of the shareholders and investors to the use of computer software and digital systems that would speed up the process of trading and investment facilitation process," noting that "the available during the first three months of the year, indicators current 2016 were positive compared to their counterparts of the past year 2015, despite the obstacles and problems facing the market and joint stock companies producing stocks. "

In turn, said a member of the Board of Governors at the Iraq Stock Exchange RMR firm, said in an interview to the (long-Presse), "The highlight what the stock market at the moment is trading project after which aspires to be completed the end of 2016 this", usually that " the project allows the investor trading directly with the market about what contributes to the rapid spread inside and outside Iraq. "

And it suggested the firm, said: "Trading over after a number of investors in the Iraq Stock Exchange, which exceeds the 25 thousand people present, because it allows them their shares on their own management," pointing out that "the main problems facing the stock market now is not to adopt its own law despite the raised since 2008, includes being a lot of facilities that deal with red tape. "

For his part, director of electronic systems in Iraq Stock Exchange Younis issued, in an interview to the (long-Presse), "The systems used in the market in line with international standards and certified in several countries in the world which is secured 100%," returned to "the use of these systems has given market credibility and earned foreign investor confidence, which led to increasing the number of investors. "

He issued, that "the market is now focusing on increasing the market with confidence through the cemented material base for technology stock using and preparing the base keeping a sophisticated and flexible data allow the market management of the site from somewhere else in case of any malfunction or emergency modern global systems."

In turn, in an interview that "the Iraq Stock Exchange (KSE) suffer from falling stock prices problems and circulation weekly and monthly economic adviser Samir Nasiri said to (long-Presse)," attributing the cause to "economic conditions through which Iraq and the financial crisis that led to the recession and the impact the tourism sector and contribute to industrial companies and the banking sector. "

For his part, called for economic and academic Abdul Karim Mahmoud, said in an interview to the (long-Presse), to the "restructuring of Iraqi banks and unify efforts to activate the Iraq Stock Exchange's performance," calling on citizens to "save their money in banks to activate their work will reflect positively on the economic situation and increase the effectiveness of the Iraq Stock Exchange. "

Mahmoud said, that there is a "contribution in Iraq 98 companies representing the structure of the work of the securities market, including 44 banks," pointing out that "stopped the work of banks means stop that 50 percent of the contribution to the Iraq Stock Exchange companies."

The Iraq Stock Exchange discussed with the Central Bank of Iraq, in the (fourth from this April 2016), government bonds put up in the Iraqi Stock Exchange mechanism, stressing the formation of committees to follow up the matter.

The Iraq Stock Exchange announced that, in (the twentieth of this April 2016), the work of trading for after the end of this year system in 2016 its intention, returned it will contribute to "activate" trading and "attract" investment and "streamline" the work procedures