About Company
Iraq Stock Exchange
Taha A. Abdulsalam
Chief Executive Officer
Address: Al-Karadha Al-Sharqiya / Al-Alwiya
District/sec 903/ St 11, Baghdad, Iraq
Contact Person: Shahad Emad Alkhyat
-Joined FEAS in 2005-
68 69
Year In review
Financial markets in various countries of the world have adopted a set of plans seeking to enhance financial stability and achieve growth in the size of business sector projects by promoting the role of establishing joint-stock companies, attracting national and foreign savings, and facilitating the movement of capital through laws, rules, electronic systems, and anti-money laundering and terrorist financing mechanisms.
Regarding the national securities sector, the Iraqi Securities Commission and Iraq Stock Exchange Board of Governors have sought to approve plans for widespread use of digital systems, which the ISX began to adopt in 2007 and then launched after two years. Those plans have pursued their quest by adding new trading platforms that allow trading in shares of listed and unlisted companies and transferring of their ownership in a manner considers the companies’ different classifications in disclosure and listing, and by efficient use of rules which in turn requires rapid flow of information to investigate and follow up on the implementation of procedures pertaining to anti-money laundering and financing of terrorism, examining the scenarios followed by the adopted electronic systems to screen information flow, and cooperation with the official institutions in executing their actions through electronic screening and cross-checking.
In the course of 2023, the ISC amended Regulations No. 16 for trading in securities by insiders, Regulations No. 23 for the platform of undisclosed companies, and the brokerage firm licensing Regulations No. 20. In cooperation with the Central Bank of Iraq, Ministry of Trade's Registration of Companies Department (Tasjeel) and ISX, the Commission addressed the question of listing, depositing, and trading shares of unlisted companies by issuing Regulations No. 21, which require the electronic systems to adopt certain technical procedures to allow these new mechanisms to be added. The ISC also legislated Regulations No. 22 to create branches of the Exchange in Iraqi governorates, which are expected to increase prevalence of investment and trading services, and to draw in savings towards businesses through the Primary and Secondary Markets of the ISX.
The Iraq Stock Exchange demonstrates an interest in propagating a culture of investing and trading in shares by following up shareholders’ affairs, and publishing statements of quarterly and annual disclosure and extraordinary significant events on its website, on other sites owned by the specialized organizations on which the ISX serves as member, including the Arab Federation Capital Markets (AFCM) and Federation of Euro-Asian Stock Exchanges (FEAS), and on the database of the Arab Monetary Fund (AMF). The Exchange achieved outstanding positive results in competing for the best performance achieved in 2022.
In its Yearbook, ISX discloses indicators of trading in securities of listed companies and other various activities, news of joint-stock companies and their general assemblies, and new regulatory rules. Of the most prominent indicators that were achieved in 2023:
1. The Exchange organized 237 sessions to trade in shares of listed companies, registering an increase of 0.4% by the number of held sessions per annum in comparison to 2022.
The Federation of Euro-Asian Stock Exchanges