Iraqi Stock Exchange is looking forward to new laws to operate locally and globally launched
Baghdad / Zahra al-Jassem – Digital Panel abuzz with various colors and accounts rapidly, has stuck to glance necks and eyes Mitrqubh in a medium – sized trading hall transparent barrier separates it from trading companies offices inside.
This concise picture of the Iraqi Stock Exchange (KSE) , which is packed with elderly men and record attendance rarely women. This market traded started manually after the change in 2003, is limited to the participation of shares of only 15 companies, before he knew the electronic trading system for the first time in 2009, a jump of trading the indices by 50%, and is open to foreign investors is also in the year 2017. The Iraqi Stock Exchange , like every other bourse, digital world does not care about non – financial secrets though thrones crumbled, but not lulled to rest only when the curtain falls , announcing the end of the presentation.
Shareholders was still in this market, are skeptical about the possibility to compete with their counterparts in the countries of the region, especially the Gulf bourses, despite the achieved increase in the trading session in the year 2016 compared to previous years, but they are also aware of the great challenges they face in this market because of the difficult security and economic conditions experienced by the country, and we look forward to not to amend existing laws or the enactment of new laws to support the economy, according to experts see in the trading affairs.
Khalil Mozan, which is a shareholder in the Iraq Stock Exchange, confirms (range), that the Iraqi Stock Exchange even though it seeks to put the largest number of shares traded and access to advanced stages of the profits, but there are a lot of installations of mixed private and public sectors, not offer its shares in the Iraqi stock Exchange, due to lack of a culture of mistrust and dealing the stock market, which seems clearly, was skeptical at the possibility that the Iraqi stock Exchange compete Gulf bourses because of the situation that prevailed in the country and the region.
Attention Mozan, noted that with the imminent opening of Erbil Stock Exchange, “There should be exchange in the south .. to be in Basra, for example, being a big city economic size,” he adds , “there must be a balance of the financial deal in the Iraqi stock exchange.”
It seems that the situation is different Gamal Abdel Latif has, another shareholder in the stock market, as it believes that the fear among the shareholders of the Iraqi stock market is not great, as it exists in the global stock markets, following the saying, “We are monitoring the market on a daily basis and look forward to the rise and decline in the stock, we have no fear, as most of the companies in the open market dealings, in the sense that their work is known to us, so the ups and drop is not alarming. ”
While watching Abdul Latif digital painting within the market confirms (range), said that the failure of Iraq to link global markets and is not affected by the Baghdad Stock Exchange directly what is going on in the world, makes the risks a bit, “but also the decline in any stock will create certainly a big concern when some shareholders “, and hits for example , by saying , ” when the Warka Bank went out of circulation because of the sudden imposition of trusteeship by the central bank, it may cause many of the shareholders a real disaster, and some even suffered a heart attack crippled the mattress. ”
On the other hand, notes the executive director of the Market Iraqi securities, Taha Ahmed Abdul Salam, in an interview with the (range) to the market continues to trade strongly despite the security circumstances surrounding Iraq since 2003 to date, noting that there are 30 investment funds with foreigners at the moment while there is no Iraqi investment funds.
Says Abdul Salam, said the market index began to rise year – end 2016, in terms of trading volume reached trillion dinars, the largest over the past years, adding that trading indicators jumped to 50% after the use of the electronic system, however , the number of listed companies is not commensurate with the size of output national product, but trading through the electronic system will be streamlined, while emphasizing the importance of being the establishment of a new joint stock companies ,.
Market action, Abdul Salam notes, that is the biggest banking companies in the stock market, where the share of banks to 65% of the number of listed shares, which believes that banks need to expand in their work, especially after committing the central bank has introduced shares, noting, with six banks waiting for insertion in the market and other refrained from listing on the market for fear of disclosure.
Financial and competent expert on stock trading Sabah Abdul Haq, says in an interview (range), that there are many obstacles facing the Iraqi Stock Exchange offers, including slow economic growth in the country, as well as not to amend a number of laws that support the economy as a law of capital market and the law of the tariff, in addition to the absence of necessary economic legislation, as a law to protect the product and the law regulating the work of the companies, which are the laws of cause absence of significant migration of capital, became the economic environment in Iraq repellent for investment, which has embarrassed at certain times of the trading volume in the Iraqi stock Exchange, as says Abdul Haq.
Following the financial expert said, that the security and political crises faced by the country at the moment, is the other had a significant and obvious impact on the low level of trading in the Iraqi Stock Exchange, also it caused fear for some international companies to enter the Iraqi Stock Exchange.
The date of the work in the Iraq Stock Exchange, to the early nineties of the last century, where it was called the Baghdad Stock Exchange ‘s name, and was run by the Iraqi Ministry of Finance at the time, and after 2003 the stock market was closed, but she returned and opened its doors again after the enactment of Law 74 of 2004, under the name “Iraq stock Exchange , ” which is run by the Securities Commission.
Organization Foundation market is self – regulated independent administratively and financially, not- for- profit and owned by members, and managed by a Board of Governors, and the right to own movable and immovable property, and including real estate, is also committed to the instructions of the Securities Commission in accordance with the law of the temporary securities.
Would you invest in Iraq?
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BGG (Dinar Guru) – “Iraqi Stock Exchange is looking forward to new laws to operate locally and globally launched“ Iraqi Stock Exchange is looking forward to new laws to operate locally and globally launched! Holy $*%&! Did I just read that right? There is a reason they are talking about this right now…it would appear this is on the verge of happening.
Read More: http://www.dinarupdates.com/observer/
Iraq plans offshore oil and gas exploration to boost reserves
Iraq is planning to start offshore oil and gas exploration to boost the OPEC nation’s reserves, Oil Minister Jabar al-Luaibi said in a statement on Monday.
Luaibi said he “gave guidance to the Oil Exploration Company about the importance of exploring territorial waters to assess the hydrocarbons reserves and to boost Iraq’s capacity”.
Iraq last week announced an increase in its oil reserves to 153 billion barrels from a previous estimate of 143 billion barrels.
Iraq has boosted output rapidly in recent years with the help of foreign oil companies to become OPEC’s second-largest producer behind Saudi Arabia.
It agreed at the end of November to take part in an OPEC agreement to cut global supply to help to lift oil prices.
Iraqi Dinar/Dollar auction 02-27-17 (most recent listing)
Currency Auctions Announcement No. 3390
This daily currency auction was held in the Central Bank of Iraq on the 02-27-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 34 |
| Number of remittance companies | 13 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 161,666,711 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 161,666,711 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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Loop (Dinar Guru) – Article: “Iraq complains Ministry of Finance’s lack of cooperation with the retirement body: disgruntled pensioners of procedures” Quote: “Rafidain Bank was forced to exchange for several months, in spite of the suffering experienced by the bank, due to the lack of liquidity…” due to the lack of liquidity…I KNOW WHAT WOULD FIX THE ISSUE…INCREASING THE PURCHASE POWER OF THE DINAR!
Read More: http://www.dinarupdates.com/observer/
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British Ambassador: are sure of the ability of Iraqi forces to liberate the entire territory
BAGHDAD / Shaima Rashid – New British ambassador to Iraq , Frank Baker, his country ‘s full support for the Iraqi government in its war against “Daesh” terrorist gangs, praising at the same time on the role of Prime Minister Haider al – Abadi and security forces in this aspect.
As stressed the importance of restoring the country to its natural status and its position regionally and internationally, he explained that it would take action on the political and economic levels in parallel.
A tribute to the ability of Iraqi forces, said Baker in the interview with the “morning” dialogue, ” The efforts made by the different forms on the ground of the Iraqi security forces, have had great merit in the liberation of areas of the gangs” Daesh “terrorist, and that the role of the international coalition (which was applied from the Iraqi government) was limited to air support and train Iraqi forces. ”
“The United Kingdom has always believed in the ability of Iraqi security forces to liberate all the territories that were under the influence of the terror Daesh, which is today (UK) also believes in the possibility and the valor of those forces to complete editing the rest of Mosul , ” noting that ” the idea the most important in edit areas not eliminate terrorism in all, but to preserve the lives of civilians .. and here it was the Iraqi government and its president , Haydar al – Abadi clear and significant role by emphasizing repeatedly to protect the lives of civilians and spare them the horrors of war. ”
Unite efforts
at the level of the tasks and priorities for the post – eradication of «Daesh», the British ambassador «that this phase will be a special administration Iraqis alone, it is imperative to eliminate all the consequences left by the terrorist organization, which has been overshadowed by the more than one side .. and here is the need to work in earnest on investment awareness and patriotism and harmony among the Iraqi society, can get the best results. »
He said «as well as progress .. Van politically and economically to work and re – position the country to normal regionally and internationally, and fix bugs points perpetuation of dialogue and understanding between all the components of the language, that will address many of the relics left by the extremist organization», adding that «Iraq has a history fantastic .. and for many years was a source of strength in the region and there is no reason why the return of Iraqis to what they were if they unite with each other ».
He noted that the “post – elimination of Daesh could see security breaches and attempted terror, destabilization in some regions of the country, but the uniformity of Iraqis with some of them will exceed that stage, especially the Iraqis, and by virtue of the survival of some of them under the control of Daesh for more than two and a half, they experience and they have a reaction about the re – organization of the terrorist. ”
“In the post – Daesh, we will sit down with the Iraqis to determine the position of the international coalition and the United Kingdom to study cooperation and work closely on the long – term with Iraq , ” adding that ” the UK will be supportive of Iraq if requested by the Iraqi government as the vision of the United Kingdom to Iraq different from other countries, she stood next to him in his war with Daesh not to control Iraq or to control it .. but because Iraq is worth it. ”
Provide support
and on the Kingdom ‘s support for the Iraqi government, Baker pointed out that « the volume level of the bilateral relations between the two countries beyond the political, economic and security frameworks .. and beyond that to the rest of the aspects and at the international level, in the economic side , not only to support the Kingdom to provide aid to the Iraqi government, but provided many in urging the international community to participate in further cooperation with Iraq and the holding of conferences and to provide grants and loans, as the British government has provided loans to the Iraqi government to help them overcome the economic crisis. »
He continued , “as well as the economic side, helped the UK on the side of education, as the British Council has been working closely with the Ministries of Education and Higher Education Aerakitin to provide courses for the languages English, and also supported the health system by helping British companies in the rehabilitation and development of the Iraqi hospitals managed true .. as well as providing fellowships for Iraqi doctors in Britain ‘s cities, as well as in side effects, which have been trained Iraqi scientists on how to maintain the effects of the sites that were destroyed by the “Daesh” terrorist gangs “.
Reconstruction
With regard to the reconstruction of liberated areas, the British ambassador said that his «his country would be willing to set up a conference to support Iraq ‘s reconstruction and provide assistance and support».
He »We will be more than happy to take care of such conferences and call her, but it is best to set up such forums on the land of Iraq after the end of Daesh and stabilize the situation to restore power to Iraq, but it touches the international community effects of victory and the ability of the Iraqis to make a new future into their own hands».
And “The ideal way to rebuild a liberated cities come through the support of the private sector to be Sanda Iraqi economy .. and involvement in building infrastructure properly and decent,” adding that ” the main idea is not in the advent of the international community to rebuild Iraq ‘s cities .. because Iraq It possesses the competencies and capabilities and sincerity enough .. but that Iraq needed to get international loans and conferences that help to attract companies to rebuild what has been destroyed. ”
” The Prime Minister Haider al – Abadi was able to lead the country well, and approve the budget correctly and was able to fight the terrorist organizations and taking them out of the cities it has occupied.”
Baker referred to the fight against corruption, and provide the perpetrators with the judiciary, saying: “Corruption is not less dangerous than terrorism, which is a big problem in Iraq, so it must be dealt with to derail corrupt political system, and the government has to make sure that these people will be brought to justice,” He is stressing “that the Iraqi government can deal with the issue of corruption and eliminate it.”
With regard to facilitating the entry of Iraqis into the United Kingdom, the ambassador said that “Britain from countries that welcome the presence of Iraqis on its soil, and the evidence is the existence of many Iraqi cities in Britain to work, study and tourism.”
He noted that “entry into the United Kingdom has become easier access to the United States after the arrival of US President Donald Trump, noting that” many of the staff working at the British Embassy in Iraq, whether Iraqi or British, have difficulty in getting a visa to America because of their work in Iraq. ”
Loop (Dinar Guru) – The Iraqi’s are continuing to show us daily that they are very serious about reforming every level of their government to provide a better future for their people. Corruption is being dealt with as they find it. There is still much work to be done on this front. But the speed at which they are confronting it is spectacular.. IMO. The battle to free the Right coast is progressing very nicely. The on going media blitz on Maliki is very telling. His time is coming to and end. His is about to reap the what he has sown. IMO. Munich was a definite catalyst for the recent move on him. IMO…It’s shows how close we are getting to realize the the fruits of our labor… The continued dialogue in the media about national reconciliation shows how serious they are about it. It’s not over until the fat Iraqi woman sings, but I have a feeling that she is about to belt out one heck of a tune!
Read More: http://www.dinarupdates.com/observer/
Our troops begin storming the largest right side neighborhoods
BAGHDAD / morning of Mosul / Sunrise Maher began our forces in various different forms on Sunday to storm the biggest revival of the right side (Mansour) after the liberation of the safe neighborhood Balkamil.aota this at a time when managed pieces Armored Division ninth Band – Abbas (AS) fighting to finish clearing the Yarmouk power station which nourishing energy President in Mosul.
Edit safe neighborhood was declared operational commander (coming, Nineveh) Lt. Gen. Abdul Amir Yar God yesterday that appeared «anti – terrorism device troops completed the liberation completely safe neighborhood, the first revival of the right coast adjacent to the point of northwest camp Ghazlani which was imposed to control it and the airport Mosul international next to him two days before ».
He pointed out that « the machine forces were embarked on the progress process directions several as it continues to penetrate and cleanse the valley adjacent to the north of Camp Ghazlani stone neighborhood where he was able during the progress of the destruction of five wheels bomb and another carrying a machine-gun and a motorcycle and detonate 34 explosive device killed a number of terrorists and destroying mortar Mffersta» .
Break into other neighborhoods also noted the team Yar God, that cuts the federal police and the Task rapid reaction continues to break into the process and clearing Jawasaq overlooking the bank of the Tigris neighborhoods adjacent Aviation Airport Mosul and managed through the offer of the destruction of two wheels bombs and detonating suicide vests and seizing a number of weapons and ammunition and detonating 10 explosive devices, killing a number of terrorists and the destruction of the wheel carrying a machine-gun and the dismantling of two houses Mfajgen.
Yar God He said the cuts Armored Division ninth Band – Abbas (AS) combat were able to complete the cleansing Yarmouk power station , which is nutritious president of energy in Mosul and continue the process of clearing Tlul thirsty and secure the western side of the counter – terrorism forces and continue the progress , where two wheels bombs destroyed and another carrying gunmen and blew 30 of an explosive device and killed a number of terrorists, pointing out that the progress troops were entrusting air cover effectively by the air force and army Aviation and the international coalition aircraft march, and led sorties combat the destruction of a large number of enemy equipment and kill a lot of Aldoaash.
The news correspondent «morning» Captain in the federal police forces Karim Jamal confirmed the killing of three of the most prominent snipers Daesh Russian citizenship , one of them in the neighborhood of Wadi Hajar , according to intelligence information from residents of the neighborhood stating that these snipers were deployed on the roofs of government and commercial buildings, while advancing forces found 4 weapons and ammunition stores and mortar bombs belonging to Doaash into Wadi Hajar neighborhood, killing five guards these stores.
While the field commander for the detection of four Doaash surrendered to the forces fighting terrorism in the neighborhood of Wadi Hajar, after the flight of most of their leaders and their inability to cope with troops being trapped from all sides, pointing out that the criminals Daesh they could not , and since the start of the Battle of the right coast of the face developed the pieces and so for many reasons , the most prominent of their leaders escape and run out of ammunition , and no communications with each other .
Keeping the entrance of Mosul , the president , in turn, told Dean in the federal police forces Aziz al – Araji in an interview with our correspondent, that «our forces imposed yesterday morning control entirely on President Street to the entrance of Mosul , on the one hand the road from Baghdad after clashes that killed about 20 of the most prominent leaders of Daesh including two suicide bombers , in addition to seven of the terrorists Daesh militants were arrested during their presence in the shops within the same street before fleeing ».
He added that « the security forces stormed the al – Mansour neighborhood , one of the biggest revival of the right coast and is adjacent to a safe neighborhood editor, and that these forces keen to open safe corridors to exit families».
He also pointed out that « the federal police forces completed the imposition of completely control over Aharakiet adjacent area to the West of the Tigris south coast right which is the largest site for refining and smuggling of oil , which was acquired by Daesh gangs and prevent civilian access to it, reaching these forces to the entrance of the fourth bridge, after killing 16 of the most prominent leaders of these gangs », warning that« anti – terrorism forces , which involved fighting able to control the entrance to the fourth from the south bank of the bridge and the troops are now deployed at the intersections of the bridge link between the coasts of the left and right , which is the first bridge is under control it from several directions » .
Arrest terrorists Turks also confirmed Brigadier General in command of joint operations Mohammed al – Jubouri »Sabah» that anti – terrorism forces arrested yesterday 30 of the leaders of the gangs Daesh including military and security officials from Arab and foreign nationalities while trying to escape from Mosul Right Coast cards personal forged.
People crowd emphatically and on the achievements of the remarkable forces Authority popular crowd, said a statement of the body that « the engineering effort of the crowd completed the creation of mounds and building fortifications in the villages and areas that have been edited during the past four days within boycotted the ongoing liberalization east and west of Tal Afar regions of operations, as well as to continue to dismantle IEDs and mined houses were dismantled more than 327 explosive devices and more than 45 homes ».
For his part, the leader of the popular crowd , Sami al – Masoudi «kill the so – called ( the commander of the elite forces Bdaash) on the outskirts of Tal Afar , process quality carried out by Hezbollah Brigades hard intelligence high , which led to an outbreak of panic among criminal gangs and cause the occurrence of a state of retreat and withdrawal have».
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The following .PDF is the review by RCookie of the IMF board’s publishing of Iraq’s SBA (excellent info) – He would have wanted you all to have it.. posting the whole .PDF was the only way to get it on here. Enjoy. BGG
Robert Cook CSW CSS CBP CST CTC
Iraq:
IMF EXECUTIVE BOARD COMPLETES FIRST REVIEW IRAQ’S STAND-BY ARRANGEMENT (45 pages…)
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Adoption of specialized international companies for the rehabilitation of local expertise
BAGHDAD / Hussein Tgb – More is known about attracting capital and advanced technology requirements of an urgent need to revitalize the real job market in Iraq , which has an ideal opportunity for all international companies, but under the conditions of crisis it.
Global effort with the developed According to experts needs to be a reputable financial institutions have the expertise that carry international certificates recognized confirms possession of these institutions for the best experience and the ability to provide services that fit the workload and keep pace with global developments and shrinking the gap between Iraq and the world.
Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh stressed the need to open up to the specialized rehabilitation of local expertise that add high levels of expertise enable organizations to be the focus of the world ‘s faith at all levels of international companies.
He pointed to the importance of being in Iraq experiences carry important testimony from the top five training institutions in the world in the forefront of any ACAMS, Microsoft and KPMG and other terms of equivalent training in her testimony Harvodalaalmih University.
Saleh said that the world is constantly evolving and has become an international gap between Iraq and the international surroundings even in the training curriculum, pointing out that the rapid developments difficult to keep pace , but through the rapid training sessions larger institutions under the supervision of, and we find it offere that trains local competencies in the biggest specialized in the financial sector institutions which is the real axis of the starting of the development process and recommend extending it .
The 27 percent of the jobs that were chock in the seventies of the last century , has now disappeared in developed countries, including the United States of America.
Keep up with new expert International Training Ali Mohammed Jawad said that the world is racing to develop human capabilities to keep up with their role in the new in all fields, pointing out that the advancement of competencies is all the institutions of the forms , the risks, particularly in the financial institutions. He pointed out that our experiences with leading global companies showed that the current work contexts and the criteria for selecting the country that approaches it classified as investment companies adopt the evolution of the financial sector and the extent to which Imitklh of certificates of the best specialized institutions.
He noted that the field of money Iraq began earning his staff of international experience through certificates obtained from the institution of any global infidel specialized preparation competencies, develop and give a certificate to the employee that exceeds the tests on the high degree of accuracy in the areas of money laundering and diversion terrorism after the sessions organized for this matter.
He said the need for this institution looked after the events of September 11 to curb the financing of terrorism and money laundering and introduced accredited anti – laundering specialists Association money that began to enter Iraq Abraltaaon with the Iraqi private banks association and the supervision of the Central Bank of Iraq.
Jawad importance of preparing the importance of competent staff member said, because it is not natural to consider the employee that all cases of deposit and open – laundering accounts but to be precise specialization in this area and shall have the possibility in the diagnosis of cases that are surrounded by suspicions, pointing out that the ongoing central supervision sessions Association began creating these competencies.
He said that through the sessions pointed out that the Iraqi competencies younger respond quickly to put the systems and new information and this is a positive thing can Iraq from the financial sector to develop gradually to be a contender in the competencies and products regional and international banks, pointing to a great reaction from the coaches and participants.
He urged the importance of preparing young expertise in the areas that must communicate with global developments, where the need for participation of the new two sessions annually to see that occurring in the financial sector, where international investment effort looks at the extent to which the financial sector to international certifications manages the Financial Action Task Force in the country.
Turn between the Executive Director of the Association of Iraqi private banks Ali Tariq The Association recognizes the importance of developing the working experiences of public money and private sector and has become our understandings with the best international financial institutions, pointing out that the cycles that regulate the issues the task under the supervision of the Central Bank of Iraq and, most recently concluded at the end of last week , in collaboration with ACAMS any institution.
Tariq pointed out that continuous training courses and plans implemented a monthly basis according to the program and there was a clear reaction from the banks with the training curriculum.
Read More: http://www.dinarupdates.com/showthread.php?46887-Adoption-of-specialized-international-companies-for-the-rehabilitation-of-expertise
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1229.584 | 1228.969 |
| British pound | GBP | 1455.018 | 1454.290 |
| Canadian dollar | CAD | 881.083 | 880.643 |
| Swiss franc | CHF | 1150.073 | 1149.498 |
| Swedish krona | SEK | 129.489 | 129.425 |
| Norwegian krone | NOK | 136.601 | 136.532 |
| Danish krone | DKK | 165.398 | 165.315 |
| Japanese yen | JPY | —– | —– |
| Special Drawing Rights |
SDR | 1582.534 | 1581.743 |