. Iraq Securities Commission celebrates the 20th anniversary of its establishment

Iraq Securities Commission Celebrates Its 20th Anniversary with the Presence of a Representative of the Prime Minister

Iraq Securities Commission in Iraq celebrated its 20th anniversary on Thursday, May 9, 2024, with the presence of a representative of the Prime Minister, government figures, company and bank directors, and a group of officials and employees from the Commission and the Iraq Stock Exchange.

At the beginning of the event, Dr. Mazhar Mohammad Saleh, the Prime Minister's advisor, delivered a speech on behalf of the Prime Minister, in which he discussed the Commission's role in adopting financial system reforms according to a wise government vision. He emphasized that the Commission is an essential regulatory entity for organizing trading in the financial market and that it works diligently to strengthen communication with global markets and prepare Iraq for joining the World Trade Organization.

On his part, Mr. Fares Isa Abdul Salam, the Head of the Kurdistan Region's Representative Office, in his speech stated that the importance of the Commission lies in its regulatory role in trading activities, enhancing transparency standards, and protecting investors.

The Chairman of the Securities Commission, Mr. Faisal Al-Haimus, confirmed that his administration had laid down systematic plans to organize the financial market in accordance with the policies of Prime Minister Sudani's government. He pointed out that the Iraqi market is witnessing unprecedented financial activity, with daily trading volumes reaching about 3 billion shares. He also spoke about the advantages of the new Commission law, which is expected to be approved this year in Parliament, mentioning that one of the most important aspects of the law is transforming the market into a joint-stock company. He believes this move is the most successful economic alternative for attracting foreign capital.

The celebration also included two panel discussions featuring senior government and financial figures, moderated by the media personality Qais Al-Murshid. The event also saw the honoring of former Chairpersons of the Commission, as well as the top 10 brokerage firms, contributors, and banks in the Iraq Stock Exchange, in addition to recognizing outstanding employees of the Commission and the Exchange.