Press Release Issued by Iraqi Securities Commission

Under the patronage of the Prime Minister... Iraq and Egypt sign a Memorandum of Understanding to enhance cooperation in organizing financial markets.

Under the patronage of Iraqi Prime Minister Engineer Mohammed Shia' al-Sudani, at the government palace, the Iraqi Securities Commission signed a Memorandum of Understanding with the Egyptian Financial Supervisory Authority. This agreement aims to strengthen mutual cooperation between the Republic of Iraq and the Arab Republic of Egypt in the field of organizing and supervising financial markets.

The goal of this memorandum is to exchange expertise and information between the two sides and to enhance the regulatory frameworks of financial markets in both countries, which will help achieve the highest levels of transparency and efficiency in line with international best practices.

The memorandum includes several key areas, including:

·       Enhancing the regulatory frameworks for securities trading to ensure a fair and safe investment environment.

·       Training and exchanging expertise through providing technical assistance to support institutional and technical capacity-building.

·       Combating illegal practices such as insider trading and market manipulation.

·       Supervising and monitoring financial markets to ensure compliance with laws and regulatory frameworks.

·       Strengthening cooperation in investigation and information-sharing to ensure adherence to professional and ethical standards.

The signing of this memorandum comes as part of ongoing efforts to develop financial markets in both Iraq and Egypt, enhance their competitiveness at regional and international levels, and achieve the shared goals of both sides in promoting economic growth and fostering sustainable investment opportunities.