The Securities Commission announced today, Thursday, the signing of an agreement with the International Finance Corporation to develop the Iraqi market, and while it indicated the preparation of a guidebook to raise the transparency of companies, it confirmed that the new website of the Iraqi Stock Exchange will cover spot stock prices and is a qualitative leap.
The Chairman of the Securities Commission, Faisal Al-Haimus, told the Iraqi News Agency (INA): “The Commission signed an agreement with the International Finance Corporation in the first quarter of this year to develop the work of the Iraqi Stock Exchange.”
He explained that “the Authority has worked on developing the guidance booklet and the government guide for companies, which is expected to be ready by the end of the year, in order to present it to companies and benefit from the guidelines contained therein.”
He pointed out that “the booklet aims to increase the level of transparency for companies listed on the Iraq Stock Exchange, which are often late in publishing essential information and accounts, which affects investors.”
He stressed that “the Commission has launched the new website of the Iraq Stock Exchange, which will cover spot stock prices, which will allow the investor to read the market movements of any company, and this is a qualitative shift that will result in an increase in trading.”
