Clare: The Iraqi government announces the Eid al-Fitr holiday
4/18/2023
The Iraqi government announced, on Tuesday, the Eid al-Fitr holiday, and set it to five days.
A brief statement of the Prime Minister’s Media Office, received by Shafaq News agency, stated, “The Prime Minister, Muhammad Shia’ al-Sudani, directed that the Eid holiday be from Thursday, corresponding to April 20, until Monday, corresponding to April 24.” LINK
Clare: Border crossings: Our revenues amounted to 330 billion dinars in three months
4/18/2023
The Border Ports Authority announced that revenues amounted to 330 billion dinars, in the first three months of this year.
The head of the commission, Omar Al-Waeli, said, “The commission’s departments achieved 330 billion Iraqi dinars in the first three months of the current year 2023, an increase of 86 billion Iraqi dinars over the first three months of last year 2022.”
Al-Waeli explained in a statement to the “Rudaw” network, followed by “Al-Iqtisad News”, that “the work of the border crossings focuses on controlling fake laboratories and controlling manipulation of financial transfers, tax unit receipts and records, as well as preventing manipulation in granting customs and tax exemptions.”
He added, “The focus is also on seizing forged tax receipts, thwarting attempts to bring in narcotic pills, and seizing counterfeit currency and MasterCard cards, in coordination with the Prime Minister’s Office, the Integrity Commission, and the Intelligence Service.” LINK
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Clare: A proposal to list oil, gold and foreign companies in the Iraqi Stock Exchange
4/16/2023
The head of the Iraq Stock Exchange Investors Association, Alaa Al-Moussawi, said on Sunday that the market’s management is making great efforts in training its members and listed companies in order to create a “free, honest, effective, competitive and transparent market.”
Al-Moussawi explained, “The recent past periods witnessed a significant technological development in the market’s performance, which contributed to organizing and simplifying securities transactions in a fair, effective and regular manner, including the clearing and settlement processes for these transactions, and now there are great efforts being made to switch to direct electronic trading (on line) which is now in its experimental stages.
Al-Moussawi expressed his support for the idea of attracting government companies to be included in the Iraqi Stock Exchange, which leads to the development of these companies by providing the necessary financial liquidity for them, and the establishment of new production lines and modern factories belonging to the company, as well as providing an opportunity for the scientific and professional competencies present in the private sector in order to Participate with the public sector in developing companies to serve the national economy.
And Al-Moussawi believed that, “with the aim of increasing the number of shareholders and capital to invest in the market, incentives and privileges should be granted to companies to encourage them to be listed, as well as oblige foreign investment companies operating in Iraq to be listed in the Iraqi Stock Exchange,” suggesting at the same time, “the establishment of a market for commodity trading.” And there will be trading in oil and gold.
Al-Moussawi also urged the need to “create a safe environment in order to attract foreign capital, and work to raise the level of investment awareness in securities among individual and corporate investors, as well as providing transparency and disclosure and providing the investor with all the necessary information that he needs when making his investment decision.”
And issuing the necessary instructions and procedures in order to protect the capital and the rights of investors. LINK
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