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Stock Exchange market is offering guarantees to foreign dealers
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Translated by IRAQdirectory.com - [4/7/2007]
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Observers speculated that the invigoration of the stock market in the Iraqi Stock Exchange during the recent circulation sessions, particularly after the announcement of adopting guarantee mechanisms for the circulation of non-Iraqi investors in the market, may be the beginning of good reception for future transactions compensating the massive losses incurred by stockholders last year, and which resulted from the implications of the security situation, absence of the mechanisms that enhance investment activity and respond to the requirements of the economy market.
Executive Director of the Iraqi Investment Bank, Hamza Hilboon, said that circulation indicators will reach high levels with the start of operating the electronic transaction, early next September, expecting a qualitative development in the circulation, with the entry of non-Iraqi investors.
He pointed out that the recent sessions of the Stock Exchange recorded an encouraging start to various sectors, especially the banks’ shares which maintained the top circulation by very high percentage for a long period.
Executive Director of Ashour International Bank, Zuhair Al-Hafiz, expected that the anticipated positive shifts in the Iraqi Stock Exchange will possess an important part of the Arab and international bourses observations, in light of the desire of Arab and foreign investors to circulate in the Iraqi market of securities, reflecting the increased interest in this promising field.
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