According to the latest World Economic Outlook from the International Monetary Fund (IMF), Iraq's economy is forecast to shrink by 1.5 percent this year. This is a reduction from the 4.1 percent growth forecast in their October 2024 report. For subsequent years, the organisation predicts a return to strong growth.
Globally, "the landscape has changed," says the IMF, "as governments around the world reorder policy priorities and uncertainties have climbed to new highs. Forecasts for global growth have been revised markedly down ... reflecting effective tariff rates at levels not seen in a century and a highly unpredictable environment.
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The resultant fall in the price of oil can be seen as a negative for Iraq.
“A friend of mine lives in Switzerland called me and said that the digital Iraqi dinar has appeared on electronic trading platforms in the United States.
** Selling price of the dollar by banks and non-bank financial institutions to the final beneficiary
*** Selling price of the dollar by the CBI to the banks
Top 5 Gainers - Weekly
Company Names
ISX Code
Closing Price(IQD)
Price Change (w/w)
Price Chg. (YTD)
Kurdistan Int. Islamic Bank
BKUI
1.440
14.3%
111.8%
Economy Bank
BEFI
0.300
7.1%
-6.3%
Modern Animal & Agr. Prod. (UCM)
AMAP
0.480
4.3%
-11.1%
Al-Mosul for Funfairs
SMOF
7.250
4.3%
3.6%
Iraqi for General Transp. (UCM)
SIGT
0.730
4.3%
-3.9%
Top 5 Losers - Weekly
Company Names
ISX Code
Closing Price(IQD)
Price Change (w/w)
Price Chg. (YTD)
Iraqi Agricultural Prod. Mark. Meat
AIPM
5.250
-8.7%
-7.9%
Modern Sewing
IMOS
8.710
-8.3%
-4.3%
Iraqi for Carton Man.
IICM
1.250
-7.4%
-31.7%
AL-Nukhba for Construction
SNUC
0.700
-6.7%
-6.7%
Iraqi Islamic Bank
BIIB
1.410
-6.0%
-3.4%
Top 5 Active by Weekly Trading Volume
Company Names
ISX Code
Trading Vol. (IQDmn)/d
Trading Vol. ($'000)/d
Share in Total Trad. Vol.(%)
Bank of Baghdad
BBOB
4,385.7
3,322.5
39.2%
Al-Mansour Bank
BMNS
2,652.1
2,009.2
23.7%
Gulf Commercial Bank
BGUC
664.8
503.7
5.9%
Iraqi for Seed Production
AISP
622.2
471.4
5.6%
Baghdad Soft Drinks
IBSD
535.2
405.5
4.8%
Distribution of No. of Weekly Trades and Trading Vol. by Sectors(1)
Sector
No.of Trades/w
Trading Vol. (IQD mn)/w
Trading Vol. ('000 $)/w
Share in Total Trading Vol. (%)
Banking
2,654
8,710.3
6,598.7
77.8%
Industry
688
1,029.2
779.7
9.2%
Agriculture
450
639.9
484.8
5.7%
Telecom
264
477.6
361.8
4.3%
Services
229
218.0
165.1
1.9%
Hotels&Tourism
29
126.3
95.7
1.1%
Insurance
6
0.5
0.4
0.0%
Investment
0
0.0
0.0
0.0%
Grand Total
4,320
11,201.7
8,486.2
100.0%
(1) Excluding OTC market
Iraq Stock Exchange
On Wednesday, a memorandum of understanding was signed for the Iraq Stock Exchange to join the Tabadul platform, in cooperation with the Abu Dhabi Securities Exchange. (Shafaq News)
A cross transaction occurred on 296.2 mn shares of Bank of Baghdad (BBOB) on Apr. 23, valued at IQD1.3 bn and corresponding to 0.1% of BBOB's capital.
Region Trade Bank (BRTB) has completed the legal procedures for the capital increase through a 14.29% bonus issue to IQD400.0 bn.
The ISC has approved the request of Al-Khazer for Construction Materials (IKHC) to have a four-month extension period to add the new shares from the capital increase through a 100.0% rights issue to IQD2.0 bn starting from Apr. 6, 2025.
Stocks that resumed / will resume trading:
Al-Hamraa for Insurance (NHAM) resumed trading on Apr. 20 after holding its AGM on Apr. 14 in which they discussed and approved the 2023 annual financial statements.
New shares of Al-Mansour Bank (BMNS) from the capital increase to IQD445.0 bn through a 26.78% bonus issue resumed trading on Apr. 22.
Baghdad Hotel (HBAG) will resume trading on Apr. 27 after holding its AGM on Apr. 21 in which they discussed and approved the addition of buildings, facilities and tourist facilities to the hotel building and the rehabilitation and development process of other parts, and granting Jamal Al-Widyan Tourism Investments Company an additional period of 20 years and an increasing rate of 2% annually on the cumulative rental allowance.
Stocks that were suspended / will be suspended from trading:
ISX suspended trading of Babil Animal & Vegetable Production (ABAP) starting Apr. 20 due to the AGM that will be held on Apr. 23 to discuss and approve the 2023 annual financial statements, dividend distribution, and elect seven original and seven alternative board members.
ISX will suspend trading of Bank of Baghdad (BBOB) starting Apr. 28 due to the AGM that will be held on May 3 to discuss and approve 2024 annual financial statements and dividend distribution.
ISX will suspend trading of Iraqi Islamic Bank (BIIB) starting May 6 due to the AGM that will be held on May 10 to discuss and approve 2024 annual financial statements, dividend distribution, increasing the paid-in capital from IQD325.0 bn to IQD400.0 bn through a 12.31% rights issue (56/fourth; increasing the capital by IQD40 bn by issuing shares in favor of Safwa Islamic Bank (Jordan)) and a 10.77% bonus issue, and electing two original and nine alternative board members.
ISX will suspend trading of Al Masherq Al-Arabi Islamic Bank (BAMS) starting May 6 due to the AGM that will be held on May 10 to discuss and approve 2024 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD250.0 bn to IQD295.05 bn through a 18.02% bonus issue. (In its previous AGM, which was held on Feb. 11, 2024, the bank decided to increase its capital from IQD250.0 bn to IQD300.0 bn through a 20.0% rights issue, however, it was announced on Sep. 22, 2024 that there was no subscription.)
ISX will suspend trading of Modern Chemical Industries (IMCI) starting May 8 due to the AGM that will be held on May 13 to discuss and approve the investment contract for a land for a company in Baghdad Governorate, and electing five original and five alternative board members.
