Al-Sabah newspaper conducted an interview with the Chairman of the Commission, Dr. Alaa Abdul-Hussein Al-Saedi (We have started the steps of global openness to strengthen the local stock exchange)

The movement of stocks in various global economies sends messages indicating the effectiveness of the economy and the levels of growth that are occurring in all productive and service sectors.

Chairman of the Securities Commission Dr. Alaa Abdul-Hussein Al-Saedi said, "The stock market is one of the important pillars in all global economies, as no development can be achieved far from the development of these pillars," indicating that "the role of the authority is to control these stocks, especially since the higher level of control leads to more transparency in dealing, which The investor's confidence to enter the stock exchange strengthened.

The supervisory role:

He added in an exclusive interview with Al-Sabah that the process of investing in the market leads to the development of the stock market on the one hand and creating great returns for investors on the other hand, thus the Iraqi market becomes a local, regional and international attraction for these investments and leads to the establishment of new joint stock companies, and thus the supervisory role leads To enhance investor confidence in the stock exchange. "

He pointed out that "investments in the stock exchange means attracting new capital that leads to the creation of new job opportunities and effective competition in a promising developing economy where there are many investment opportunities that are considered virgin opportunities that have not been invested."

contribution companies

Al-Saedi pointed to "the availability of positive opportunities for citizens' savings by employing them in the stock market to achieve an acceptable financial return, as these savings are collected in joint stock companies and become a large sum that is employed in large industries and is employed in the service of the national economy and the family economy."

And he urged the need to work to spread the culture of the stock exchange in the Iraqi society and to demonstrate the benefit achieved from it, especially that the country is on the verge of a wide movement of work in all sectors, as the great population growth in Iraq requires projects parallel to this growth, and thus the next work is large and requires many joint stock companies and in more than one sector .

Sustainable development:

He drew attention to "the importance of investing the hoarded cash mass in homes within the stock market to be an active supporter in the sustainable development process that Iraq seeks during the coming period."

He said, "Spreading the investment culture requires the concerted efforts of several bodies, the most important of which is the Securities Commission as a watchdog standing at a distance from everyone to preserve the rights of all parties dealing in the market, and this strengthens the sobriety of the local stock market in return for companies to do their activities towards achieving profits that encourage investment in Its shares and raise the value of its trading.

new law :

Al-Saedi called for "enacting a new law to regulate the work of the commission," noting that "we are still working with Law No. 74 of 2004 approved by the civil governor Bremer, and that this law includes paragraphs that can be described as defects that need a long time to explain them."

He pointed out that "the obstacles to the work of the commission are the absence of a modern law in conformity with the international laws. Therefore, the commission worked to prepare a law for it and 85 percent of it has been completed and in the stage of recent discussions where we have reached advanced stages and within the six months it will be completed and sent to the House of Representatives" warning that this law It allows the development of securities business and adopts new regulations, the most important of which is corporate governance, which is the most important pillar for attracting foreign or local investors. Therefore, we are working on issuing special regulations that enhance the financial market within the framework of the new law. For the Federation of the International Securities Commission and during the coming period, joining this body will be signed, i.e. before the end of the current year.