May 2009 News & Updates
E-trading arrives in Iraq
May 29, 2009
Al-Harej markets are famous throughout Iraq. In every city there is a popular Harej market, the most famous one being located in al-Maydan in Baghdad, where electrical devices, furniture and other second hand goods are sold.
16 companies shares slump, only one made it up in Iraq stock exchange trading
May 29, 2009
The iraq stock exchange (ISX) index on Thursday, the last manual session for this month of May, went down by 7.659%, closing at 253.734 points. Some more than 268 million shares of 30 joint-stock companies exchanged hands at a value of 546 million Iraqi dinar (ID) ($466,000) in 180 transactions.
Iraq is studying the draft of allowing foreign investors to possess lands
May 29, 2009
The Chairman of the National Investment Sami al-Araji stated to"Reuters" before yesterday that the proposal is one of a number of amendments to the investment law aimed to attract foreign capital, but the bureaucracy has lessened of its effectiveness.
Iraqi Banks Association studies establishing a joint bank with a capital of billion dollars
May 29, 2009
The Chairman of the Private Iraqi Banks Association, Fouad Al-Hasani, said that the «Central Bank» of Iraq, the Ministry of Finance, the Association and Representatives of foreign banks operating in Iraq, are studying the draft of establishing a joint bank with a capital of one billion dollars.
Central Bank of Iraq (CBI) declined government
May 14, 2009
The Iraqi central bank declined the request of government to borrow from the bank’s Reserve funds to fill the shortfall in the budget, considering it as a violation step and contrary to the Bank’s independence. The senior Consultant in the Central Bank of Iraq, Mudher Mohammed Saleh said in a telephone conversation with the "Radio-sawa," that the government resorted to the easiest way to feed the budget’s deficit of this year, in reference to the government’s request to borrow funds from the reserve, while it must resort to apply for long term economic policies.