Central taken against speculators , the dollar prices crackdown



7/6/2016

Baghdad / long - Presse

Called on the Central Bank of Iraq, on Monday, citizens and merchants who buy the dollar by more than 1,200 banks or remittance companies to submit a complaint to the bank, and with Iraq Stock Exchange announced 156.459 billion shares traded during the month of May, the value of 37.873 billion dinars, confirmed the rise stock value compared to last April.

The Central Bank of Iraq attacked on Saturday (May 28, 2016), banking companies and financial conversion, and accused her of using "forged documents and not to supplement the local market in hard currency."

He said the Iraqi Central Bank in a statement received "long", a copy of it, he "calls on citizens and merchants who pay more than the amount of 1200 dinars for the dollar, which they bought from banks or remittance companies Ohoshrkat exchange cash or money orders or letters of credit, to submit a complaint to the Central Bank with the payment arrived, "noting that" the increase will be paid by teams to the buyer by the central bank and deducted from the account of the seller. "

The CBI said that it was "a confirmation of the directives and instructions of foreign currency exchange rates."

The Iraqi Central Bank announced recently taken several measures to regulate the work of the offices and corporate banking in Iraq and reduce the phenomenon of illegal activities that harm the national economy and raise the price of the dollar, which opened the door presentation to the owners of banking companies to obtain official licenses to practice the profession, as well as the adoption of new mechanisms in the auction sale of foreign currency to companies, raising the amount from 250 to 400 thousand dollars a condition to increase the company's shares.

Granting leave procedures include that the applicant must be experienced and the holder of a college degree and full-time for this work and not convicted of a misdemeanor involving moral turpitude, and not least the company's capital for 500 million Iraqi dinars, as well as other conditions.

For its part announced the Iraq Stock Exchange, for 156.459 billion shares traded during the month of May, the value of 37.873 billion dinars, while confirming rising stock value compared to last April.

The executive director of the market, Taha Ahmed Abdul Salam said in an interview to the (long-Presse), "The Iraq Stock Exchange was organized in the month of May 20 trading session," noting that "the number listed on the market for the month of May, companies accounted for 98 companies were distributed among the ( 23 banks, two contacts 0.22 industry Co., six farming companies, and ten tourism companies, and ten service companies, and six financial investment companies, 14 financial transfer, and three insurance companies). "

He said Abdul Salam, that "the number of traded shares in the market for the month of May, companies, amounted to 63 companies," adding, "The number of stalled companies from trading by the Securities Commission to stop trading on the shares of 16 companies did not provide annual disclosure and quarterly."

He said Abdul Salam, that the "number of shares traded during the month of May amounted to 156.459 billion shares while it was during the month of April 53.492 billion shares, while the value of shares traded in the month of May amounted to 37.873 billion dinars while it was in the month of April 23.534 billion dinars," he "the market recorded a rise in the May index compared with last April."

And on the market index confirmed Abdul Salam, that "the market index (ISX60) closed at the end of last May, on 510.230 points, down by 7.44% compared to its value to close the month of April of $ 551.22 point," explaining that "the index recorded its largest increase during the month session 4 May 2016, when it closed at 547.150 points, while the lowest low when it closed at 504.950 points, on 30 May 2016 session. "

Abdul Salam and pointed out that "the stock bought by Non-Iraqi investors amounted to 4.937 billion shares, while it was in the month of April 1.601 billion shares," asserting that "trades purchased the value of non-Iraqis for the month of May amounted to 4.652 billion dinars, while it was in the month of April 1.672 billion dinars. "

The Iraq Stock Exchange announced on Thursday (June 2, 2016), about 53.492 billion shares traded during the month of April, the value of 23.534 billion dinars, confirmed the stock decline and value compared to March, as revealed for non-registration of the rise or fall in the number of companies listed or traded.

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