$3M ALLOCATED TO UPGRADE IRAQI STOCK EXCHANGE, 4 OCT

$3M ALLOCATED TO UPGRADE IRAQI STOCK EXCHANGE

As part of its financial reform efforts, Iraq’s Cabinet has approved the allocation of 4 billion dinars [$3 million] to the Iraqi Securities Commission for the modernization and maintenance of electronic systems used for stock and bond trading.

The project, exempted from standard government contract procedures, will be executed in partnership with the U.S. company Nasdaq OMX.