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1,193.00 Iraqi Dinars = 1 USD
1 Iraqi Dinar = 0.000838 USD
  Iraqi Dinar Value for 7/20/2008
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2007: Iraqi Stock Exchange joining International Federation of Bourses

Iraqi Stock Exchange joining International Federation of Bourses

March 26, 2007

It is expected that Iraqi market for securities will witness important developments during the coming period, when it is hoped that it will join the International Federation of Bourses, as well as completing rules and procedures of circulation for the non-Iraqi, Arabs and foreigners, after the government agreed to that, and authorized the concerned bodies to prepare instructions in this regard. Also, the market continued to take measures to complete the project of electronic transaction and central depository, since it means achieving connectivity with Arab and international stock exchanges and guarantees the continuity of mutual investment and stock circulation. This was emphasized by the Executive Director of the Iraqi market for securities, Taha Ahmed Abdul Salam, explaining that the Iraqi Stock Exchange has participated earlier this year in the establishment of the Arab Union of Stock Exchanges trough the Iraqi Securities Association; also, joining the market to the Union of Asian Bourses was done early last year, and the stage of training on the use of electronic circulation system has been completed, and is continually installing devices and equipment for the direct application of this system and transfer the investors’ files from the participating companies to the deposit center, which will help in dealing with everyday problems of the work in the Stock Exchange and speed up the circulation of shares, as well as encourage investors to train and move to electronic trading and accept the inclusion of new companies in the market; in addition to the expansion of investment through signing agreements with the concerned bodies in Kurdistan to open a hall for securities circulation there, electronically connected with the Iraqi market in Baghdad, as well as studying a similar step for opening of a circulation hall in Basrah.

It is noteworthy that the Iraqi market for securities implemented during 2006 93 circulation sessions at the rate of two sessions per week, during which 58 billion shares were circulated, worth 146 billion dinars.
 
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