Iraq stock exchange invited brokerage firms to open additional branches
July 09, 2009
He said in his statement that amending the value of subscription price will support stock price and avoid its continuous decline. Abdul Salam called brokerage firms to open branches in provinces and neighboring Countries to achieve the required expansion in the sector and attract investments to Stock Exchange. He said, " the stock market needs to play a key role in implementing the privatization of public sector companies at the time of the privatization law."
He pointed out that the financial sector needs more security and stability to succeed in meeting the humanitarian services for citizens, fighting against financial and administrative corruption, and then move towards the reconstruction of the country, to secure suitable employment opportunities for thousands of unemployed.
Abdul Salam also called for the inclusion of new Iraqi and foreign companies in stock market, especially companies that are implementing projects in Iraq, as well as the coordination with the Iraqi Central Bank concerning deposit of government and semi-governmental bonds when circulated in stock market. He urged contributing companies to issue the debt securities when in need for liquidity, instead of increasing capital and cause stock price to decline. (Source) Alsabah