The Chairman of the Securities Commission, Faisal Al-Haims, confirmed today, Wednesday, that the Authority is considering the possibility of licensing brokerage companies to trade in the shares of global exchanges.
“The authority began studying the licensing of brokerage companies to trade in global stock exchanges through a technical committee within it,” Al-Haims said in a statement received by “Economy News”.
He added, “The authority is working seriously to support and develop the stock market by studying the licensing of brokerage companies to enable them to trade the shares of global stock exchanges for the first time in Iraq.”
He explained, “This step comes in the context of protecting citizens’ rights to trade through brokerage companies that practice this activity without an official license by the Securities Commission, which seeks to develop financial markets in the country,” noting that “the authority is working to provide a stimulating and orderly investment environment, which contributes to enhancing confidence among investors and raising Iraq’s position in the global financial markets.”
Are they going to change the value of their currency...? I'm pretty sure they are going to need to to pay for all these [reconstruction] objects...rebar, the cement - all that stuff is expensive at 1310. It's not so expensive if it's back at a 'previous era'....If they have the true value, their real effective exchange rate, it's going to be far cheaper...
Iraq...increased their non-oil revenues by 6%. That in itself is a massive amount. Is it going to grow?
Of course it's going to grow. They're just getting started. It's going to be amazing.
Article: "The Central Bank begins the second phase of its banking reform strategy"
They've completed the first phase of reforms and now into the second phase.
Quote: 'It will inevitably bring stability and the recovery of the dinar.' This is amazing...There's some things happening that obviously are beyond our pay grade that are almost available and ready to go. This article...'...inevitably the exchange rate will be in recovery.' To me that means they're going to go back to that 'previous era'. That would be a recovery. Going from 1460 to 1310 or from 1310 to 1182, that's not 'recovery'...Second phase is that we're at that juncture.
Deputy Prime Minister and Foreign Minister Fouad Hussein arrived on Thursday in the city of Bern in Switzerland with an official visit.
According to a statement, according to a statement by the Foreign Ministry {Euphrates News} received a copy of it, will hold a series of political meetings with Swiss officials.
The Foreign Ministry’s statement added, Fouad Hussein is also participating in other meetings to discuss many issues related to strengthening bilateral relations between the two friendly countries and ways to develop them.
Article: "An International group removes Iraq from the “notorious” financial list"
Quote: "On Wednesday, the Middle East and North Africa Financial Action Task Force (MENAFATF) classified Iraq as a country highly committed to the recommendations for combating money laundering and terrorist financing."
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Article: "Notice on the Continuation of the National Emergency With Respect to the Stabilization of Iraq"
Quote: "
The obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States...I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303."
Article: "The Central Bank begins the second phase of its banking reform strategy"
Quote: "what will be achieved from the second phase of the banking reform strategy will be reflected in the stability of the exchange rate and the recovery of the Iraqi dinar inevitably"
Al-Sudani: We will not let the projects stop in any governorate, and their completion will change the economic and social reality
5/23/2024
Prime Minister Muhammad Shiaa Al-Sudani stressed today, Thursday, that we will not let the projects stop in any governorate, indicating that their completion will change the economic and social reality of the governorate.
The media office of the Prime Minister stated, in a statement received by {Al-Furat News}, that “Al-Sudani chaired, in the Najaf Governorate building, a meeting of directors and officials of service departments and formations, during which the reality of services in the governorate was reviewed, and the most prominent problems and obstacles facing the progress of implementation of service projects.” ".
He stressed that "the government kept in mind the citizen's entitlements when preparing the government program, and made the necessary basic services among the most important priorities, especially the lagging and stalled infrastructure projects related to the health, education, and other sectors, due to the conditions of war, terrorism, and instability."
He explained that "there is pressure on services and infrastructure in all sectors in the governorate, for various reasons, the most important of which is the delegations of visitors to Najaf Al-Ashraf."
The Prime Minister said during the meeting: “We look at services starting from the perspective of lagging projects, some of which date back to 2008, such as the treatment plant project,” pointing out that “the continuation of lagging projects causes collapses and changes in prices that burden the state.”
He added, "The federal government and local governments form one team," noting that "the voter for local governments is awaiting the results of his participation in the elections."
He continued: “Our visit aims to develop solutions to the problems, and we do not want to repeat the same excuses after a month or two,” adding: “We are following up on the smallest details and developing solutions, and we have allocated financial allocations, but we are governed by a budget and allocations, and the ability to spend these allocations.”
He added: "We will not let the projects stop in any governorate, and the completion of the projects will change the economic and social reality of the governorate," adding: "Visitors to the Old City come from all over the world, and the level of services in the governorate is measured in light of what is available in this area of the city."
He pointed out that "investing in Najaf Governorate is necessary to develop the industrial city and complete it in various aspects," calling on businessmen to "invest sovereign guarantees to establish agricultural and industrial projects."
He stated that "the indicators of the agricultural season confirm the growth in production, and 5 trillion dinars have been allocated to pay the dues of farmers and farmers, and Iraq is on the path to achieving self-sufficiency in basic crops." LINK
