Iraq Stock Exchange is preparing to launch investment funds and expert prepared "solution" to the problems of funding and unemployment

Author: ASJ, HH
Editor: BK, HH
07/08/2016 12:44
Number of Views: 785

Long-Presse / Baghdad

Iraq Stock Exchange confirmed, on Sunday, seeking to put the instructions to attract national and foreign savings towards investment and add new financial instruments for trading in collaboration with the Central Bank, as called for an expert to give the fund a priority in economic development, they returned they are a "viable solution" to the problems of funding experienced by Iraq and provide more job opportunities.

Said Executive Director of the Iraqi market for securities, Taha A Abdulsalam, said in an interview to the (long-Presse), "The Central Bank of Iraq face of market Preparedness to launch investment funds," noting that "the committee set up by the market to prepare a draft investment funds licensed instructions held its first meeting in the (17 July 2016), and is continuing its work. "

He said Abdul Salam, that "the Commission, which includes representatives from the Iraqi Central Bank and the Securities Commission and the Iraqi market for securities and the Department of Registration of companies, based on its work to the Arab financial markets experiences in organizing such instructions to attract national and foreign savings into investment in securities, and add tools new financial trading. "

For his part, teaching, said at the College of Management and Economics University of Baghdad, Salah al-Habib said in an interview to the (long-Presse), there was a "trend is serious for the establishment of investment fund which represents the several views of the public and private sectors and is managed by the Authority", they returned it "will contribute to the new market industry positively reflected on the Iraqi economy companies, investors, and supports both. "

He called an economist, to the need to "prioritize investment funds in the process of economic development, particularly in the industrial and agricultural production sectors, to include then the whole other sectors," pointing out that "investment funds represent a viable solution to the funding problems experienced by the national economy, as well as substantial role in the development of the productive sectors and operation of major strategic projects currently stalled and enable them to profit and achieve the highest degree of viability of the local economy. "

The Habib, the "activation projects through investment funds also lead to the development of support such as transport sectors, as well as provide employment opportunities for a large segment of unemployed youth," stressing the importance of "privatization of public companies, especially industrial and converted into a joint stock after activating the productive role by adopting Funds sovereign investment, especially since much of the world has adopted it and achieved positive Tnagmt goals and ambition in achieving sustainable development. "

He said Habib, that "the sovereign funds operate in a manner finance a factory or a company and then sell shares in the financial market to encourage demand for them after you become a profitable company," but he also said, "But not all investors in this area have enough experience, so it helps to activate investment funds in the development work in the Iraq Stock Exchange after it is converted companies to the contribution of the shares offered on the stock market for investors, also it helps in raising foreign capital invested in the stock market, which in turn is a win-win situation for the local economy and bring considerable economic feasibility of the country. "

Iraq has suffered from oil exports based rentier economy to finance its expenditure by more than 96%, as well as the problems facing investment projects in various governorates of Iraq.