The market value of companies exceeded 7 trillion dinars

5/21/2016 0:00

Despite the existence of obstacles to invest indirect

BAGHDAD - Mostafa Hashemi

stressed on competent financial investment Jalil Ali Obaid highlighted the encouraging factors on the financial indirect investment is the existence of awareness of the economic and culture, as well as laws governing the economy and capital. Known financial investment as the investment of money in stocks, bonds or treasury transfers and other business tools or any bonds tradable.

He said Obaid In contrast to the main problems facing the financial investment companies that it is the existence of unfair competition with the financial intermediation in the sale and purchase of securities companies, as well as the central bank controls through an increase in the banking sector and capital controls to invest in a single company , along with the sharp decline in stock prices.

He said that the financial investment companies founded with a capital of 100 million dinars at the end of the last decade and has committed two years after the amendment of the capital to 200 million dinars the company may also invest in bonds and stocks and treasury transfers and management of portfolios of others, saying they committed to be a joint - stock companies and be the Central Bank of the sectoral supervisory and governed in accordance with the laws in force.

He said: Central has stipulated that does not exceed the investment in each joint - stock company more than 5 percent of the capital company financial investment and retain 10 percent of the share capital in cash Kciolh, as committed at the end of 2013 to be a capital of 100 million dinars , and the ratio of investment in all 10 companies percent of the capital and liquidity ratio required 10 percent.

in the same context , said the Iraqi market for securities Finance , the market value of listed companies in the market amounted to 7 trillion and 322 billion dinars, while the value of traded shares amounted to four billion and 331 dinars , compared to 3 billion and 579 million dinars last week.

According to the weekly report of the performance of the Iraq stock Exchange for the period from 15 to May 19, seen by «morning»: the number of stalled companies from trading for failing to submit annual disclosure and quarterly Authority and the market has become for 13 companies, while the number of remittance companies stalled Report trading, after the ratification of the change of activity and until the issuance of license to practice from the central bank issued 0.3 companies.

added: The number of shares traded for the week 7 billion and 32 million shares , compared with 8 billion and 712 million shares last week, as the number of contracts executed for the 2408 deals week compared to 2008 deals last week.

The systems Iraq stock Exchange during the week ending on Thursday , five sessions, two sessions trading in the formal market and three other sessions in the secondary market.

the number of listed companies in the market 98 joint - stock company, of which 76 companies listed in the regular market and 22 companies listed in the second market.

the report pointed out : during the sessions of the week , trading of shares of 47 companies in the formal market to along with three companies in the second market .obulg number of shares listed on the market 8.960 trillion shares. the
report decrease in the number of shares traded for the week, point by 19.29 percent over the past per week, the higher the total value traded for this week , shares rose 21.02 percent over the past per week, as well as lower index market ISX 60 by 0.41 percent from the close of last week when it closed at 522.34 points.

non - Iraqi investors the
report also pointed out that the number of shares bought from investors Giralaracaan for the week amounted to 369 million shares, valued at 1,316 million dinars through the implementation of 83 transactions on the shares of 16 companies noting that the number of shares sold by non - Iraqi investors this week amounted to 1.081 billion shares valued at 660 million dinars through the implementation of 345 transactions on the shares of 18 companies.
the market index closed ISX 60 in the last session of the week , recording 524.5 points.