ISX: Political tension did not affect the Iraqi Stock Exchange

Posted by on Oct 26, 2013 | Leave a Comment

Baghdad, 21 December / December (Rn) – The body of the Iraq Stock Exchange on Wednesday that the escalation of disputes between the political blocs in the country did not affect the Iraqi Stock Exchange this week in terms of capital flows.

The strained political atmosphere in Iraq, one day after the withdrawal of U.S. troops from the country when the Iraqi judge has issued an arrest warrant for the Vice-President and leader of the Iraqi List, Tareq al-Hashemi on charges of supporting death squads.

And sacked Prime Minister Nuri al-Maliki, Vice President Saleh al-Mutlaq, leader of the Iraqi List, after describing the last prime minister as a “dictator.”

The executive director of the Abdul Razzaq al-Saadi told the Kurdish news agency (Rn) that “the escalation of disputes between the political blocs in the country did not deter the entry of investors in the stock market to work and participate in the shares of the Iraqi market for securities.”

He added that “the Iraqi market for securities do not have direct contact with the political changes, or security,” noting that “there is an increasing growth in the volume of the market.”

According to the figures of the Iraqi Stock Exchange, the trading volume amounted to 3 billion and 800 million dinars during the week.

The Iraq Stock Exchange has started its activity in 2004, and shifted from manual trading to the use of e-dealing screens in 2009, where it will open for trading two hours a day five days a week.

The banking sector is the largest in the exchange, which also includes the shares of industrial companies and insurance companies, hotels and agricultural companies.

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