Iraq discusses the analysis of financial markets activity studies

4/30/2016 0:00

Closing of the Conference of Arab Stock Exchanges
BAGHDAD - morning

Concluded in the Jordanian capital Amman, the International Conference of the Union of Arab Stock Exchanges on Thursday evening, hosted by the Jordanian stock market and continued for two days.

And Iraq participated in the conference as well as more than 400 character representing the securities markets and regulators of financial markets and brokerage firms and investment managers, banks, investment funds, as well as a number of portfolio managers, journalists and research companies and companies listed on the Amman Stock Exchange and agencies, international rating organizations and technical local and regional banks and international.

Like the Iraq Stock Exchange in this event three experts from members of the Board of Governors of the market to view the plans and the exchange of information and approve the annual budget of the Union as well as discuss the studies prepared by the Union in order to analyze the activity of Arab financial markets.

The head of the Jordanian Securities Commission Mohammed Saleh Hourani during the conference: "We have noticed that the total market capitalization of Exchanges members, more than US $ one trillion slightly, while the pose value of trades on them, about fifty percent of the market capitalization, this small percentage is somewhat comparable rates global.

He pointed out that the decline in the oil price crisis, it is essential to have impact, calling for deep research in key for this lack of liquidity reasons, expressed the readiness of his country, during this year of chairing the Amman Stock Exchange for the Union of Arab Stock Exchanges, on the basis of the responsibility of the Jordan Securities Commission and the Stock Exchange of Oman , doing follow-up of the proposed solutions, and seek the financial oversight bodies Arabic, to discuss the laws that help to overcome the obstacles and the development of Arab financial markets.

In turn, executive director of the Amman Stock Exchange Azar said that the conference aims to contribute to the development of Arab Stock Exchanges and promote integration among them and ways to increase liquidity which, in addition to the development of the IPO market in the Arab capital markets as well as increase awareness of another related technical developments capital sector.

Lazarus said that more than 35 Arab and international experts representing the most important in the field of financial services institutions have participated in a panel discussion sessions of the conference, they reviewed the most important trends, challenges and opportunities facing the global financial markets, in addition to more than 30 exchange and international financial company.

Included conference sessions, discussions and dialogues on a range of important topics related to the financial markets as the role of financial markets in economic growth, and the role of financial services companies in the access to international investors, companies international rating and its role in the development of Arab financial markets, disclosure using XBRL language systems, and how international investors view Arab financial markets, what are the expectations of the Arab and international financial markets in the light of the challenges it faces, and the role of media in the financial services sector, as well as discuss a number of other subjects.

The conference concluded that the importance of increasing and enhancing cooperation and joint Arab action between the Arab capital markets in order to meet their challenges and to benefit from the expected investment opportunities, as well as the importance of the Arab capital markets development and permanent update to its business according to the best international practices in this field, in order to improve the services provided to all parties under the competition faced by regional and international financial markets, and attract more local, regional and international investments.

At the conclusion of the conference he announced the transfer of the rotating presidency of the Union of Arab Stock Exchanges, the Amman Stock Exchange as of the twenty-sixth of April 2016 for one year.