Press Release

In a strategic step aimed to support the Iraqi economy and enhancing cooperation between the public and private sectors, a cooperation agreement was signed today between the Securities Commission and the International Center for Finance and Trade. As this agreement embodies the commitment of the two parties to the promotion of the financial investment and the development of economic activities in the Kurdistan region.

His Excellency Mr. Faisal Al-Haimus, Chairman of Iraq Securities Commission, and Dr. Saad Abdul-Qahar Al-Sheikh, Director General of the International Center for Finance and Trade, signed the agreement today, Wednesday, in the city of Sulaymaniyah, as this step comes as part of a strategy to achieve sustainable development by strengthening the economic environment and expanding investment base.

The agreement included many objectives, including strengthening the role of the Central Bank of Iraq in supporting the initiative related to the establishment of the International Center for Finance and Trade in Sulaymaniyah. The agreement also seeks to encourage and enhance the culture of investment in securities.

According to the agreement, the Commission and the Center are working on exchanging expertise and knowledge in the legal, administrative and technical fields to enhance investment activity in securities in the Kurdistan region, and make joint efforts to attract investors and develop the economic climate. Within the framework of the agreement, the Securities Commission will open an office in the International Center to enhance investor confidence in entering the stock market, while the Iraq Stock Exchange will be supported by opening a branch in the International Center, which contributes to expanding the scope of investment and increasing financial activities. This agreement is a proactive step to keep pace with the global financial and commercial development, and reflects the commitment of the Commission and the Center to enhance cooperation, achieve sustainable development, and provide an appropriate environment for investment in Iraq and the Kurdistan region.