Chairman of Iraq Securities Commission, Mr. Hassan Al-ukaily, for Al-Sabah newspaper

Nov 3rd, 2022

· Securities Commission seeks to adopt a set of activities in order to develop Iraq Securities market and the financial instruments used in the market.

· The Commission is working to achieve development in the work of the market according to a scientific planning.

· The Commission is working to adopt a national strategy for sustainable development that enhances the means of capital sustainability, and the participation of women and marginalized groups, as well as the application of corporate governance standards in the non-banking financial services sector.

· Working to spread the culture of securities and introduce them through a group of Activities where fundamental changes will be made, represented by the media promotion of the market work, as well as introducing securities trading and investing in this sector.

· Electronic or digital transformation plan by going to online trading and using Mobile Application where the trader will be able to conduct his trades and all his activities in the market by mobile.

· The commission is actively seeking with other governmental institutions for the purpose of listing mixed sector companies that have not yet been listed in the market.

· A group of ideas was presented to the Ministerial Council for Economy for the purpose of obligating some popular economy activities in the country by converting to joint stock companies and listing them in Iraq Securities market.

· Through this, the commission seeks to achieve two goals, the first is to allow the greatest possible amount of public to be benefit from these activities and distribute the common good to everyone, the second is to increase the volume of economic activity, which will lead to an increase in market share value thus to increase trading and a revival in the value of shares and their prices.

· Iraq Stock Exchange contains 103 listed joint stock companies, It has up to 13 trillion shares, worth nearly 15 trillion Iraqi dinars, and it holds 5 Weekly trading sessions.

· Iraq Stock Exchange operates on electronic trading system, settlements and clearing where the market uses the Xtreme system from NASDAQ Stock Exchange, which is one of the best systems and used by the best global and regional stock exchanges.

· Iraq Stock Exchange is committed to applying the due diligence procedures issued by our Commission and is subject to the procedures for combating money laundering and terrorist financing.

· There are 39 brokerage firms in the market that are characterized by the great experience of their employees, as well as the Its commitment to the regulations and laws, and is subject to strict supervision by Iraq Securities Commission.

· Evaluating the market in terms of the legal environment and electronic systems is one of the best Markets in the region, but the need for the entry of new capital and the listing of new Specialized companies will clearly increase the depth and effectiveness of the market.

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