** 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.
FIREFLY:World Bank is saying Iraq is now economically stable.
FRANK: IMO the World Bank is trying to tell the world Iraq has a new exchange rate
or they wouldn't make such a bold and stupid statement like that. The WTO doesn't require a new exchange rate but it does require your currency not to have any restrictions on it, therefor allowing it to go up in value when they are ready...
Budget breakdown: Iraq lawmakers warn of 2025 void
Shafaq News/ Iraq’s federal budget remains in limbo as lawmakers blame political gridlock and waning government resolve for the delay in submitting the updated financial tables to parliament, raising fears that no federal budget will be passed for 2025.
“The 2023 Budget Law required the cabinet to forward the updated tables to the House of Representatives for approval,” Uday Awad, a member of the parliamentary finance committee, told Shafaq News.
Awad attributed the prolonged delay to “the political climate, looming elections, and the absence of a genuine political will to finalize the budget,” asserting that these factors had stalled the process.
He cautioned that there might not be a budget for 2025, given the government’s “lack of serious intent to send the draft to parliament.”
On April 16, the Prime Minister’s economic advisor, Mudhhir Mohammed Saleh, pointed to technical complications as a key obstacle. “Adjustments related to the costs of extracting and transporting oil from the Kurdistan Region necessitated a recalculation of budgetary allocations,” he explained to Shafaq News.
MZ: On the bond side …I heard from a couple people that are not my personal contacts….but they say they have initiated many of the wires to pay for their final contracts. And it is rumored they will pass the 30% early next week.
Member: Since they’ve started paying bonds, is that meaning we’re at a point of no return???
Member: With the current bond info, sounds like next week is very promising for our rv.
Member: so is 2025 still in play or not?
MZ: Its very much in play….And I still believe April is still in play.
