EXCERPTS FROM MNT GOAT
If you remember in a recent Newsletter, I posted news from the Iraqi Securities Commission on the necessary changes and reforms. Yes, these reforms are to progress the Iraqi Stock Market to a high level of stability. Opps… I said it again. Did I just use the term “stability”?
So, today we read that Iraq announces the launching of a new website of the Commission, indicating that “this event represents a milestone in the path of developing the investment infrastructure in Iraq.” We as investors can see that these reforms have come a long way in the Securities Commission to transform this vision of an Iraqi Stock Market into a tangible reality that serves all investors within the framework of the government’s plans and under the auspices of Prime Minister Mohammed Shia Al-Sudani.
They also tell us that this effort is working to transform the Iraq Stock Exchange (ISX) into an integrated electronic system that provides all citizens and investors with greater opportunities to participate in investment in a safe manner. The key word here is “safe” as they told us in their past news that corruption also plagued the ISX and a major contributor keeping many potential investors away form it.
As investors in the IQD, we can now clearly see that this must be addressed too prior to any reinstatement of the dinar on the currency exchanges. Do you see it too?
So, we must keep an eye out on these Pillars of Financial Reform as they will guide us to the RV. I have said this many times already and so I will continue this journey with you. I have also had confirmation from my CBI contact that I am seeing these reforms within the correct light and should continue. I was also told that these reforms in the ISX are not going to drag out and the plan is to accomplish them in the next few months, prior to the end of the year. Opps… there is another end of year benchmark.
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