04/7/2011 Positive effects of linking Iraq banks of securities electronically
Baghdad, Invited the Executive Director of the securities market of Iraq Taha Ahmed Abdul Salam to link the work of private and Government banks among them electronically, Abdel Salam said: the market needs to enter e-clearing in the work of Government and private banks because of their positive effects on the movement of stock market in Iraq stock exchange.
Baghdad, Invited the Executive Director of the securities market of Iraq Taha Ahmed Abdul Salam to link the work of private and Government banks among them electronically, Abdel Salam said: the market needs to enter e-clearing in the work of Government and private banks because of their positive effects on the movement of stock market in Iraq stock exchange.
Added: 19-private banks were included in the form of joint stock company listed on the market is trading in shares by shareholders at meetings of the daily market, recorded in Iraqi deposit Center like any other stock.
He Abdul Salam market ready to accept any Iraqi company to register in the market and trading in its condition of discharge standards required by the market and should have annual budgets reflect the final accounts for a period of two complete without loss and thoia contributors at least 100 contributor as well as their positive indicators in General.
And the number of meetings and the time it was Abdul Salam to five sessions per week starting from Sunday until Thursday, begin each session from 9: 30 am and 12 noon.
Stating that the market can add 30 minutes of each meeting in the event of a large financial settlement transactions between enterprises and investors or institutions among themselves to discuss freely and payment of their financial obligations and make those adjustments required, pointing out that such adjustments are after the disclosure of those institutions to market the day before Meeting or until the day that is not possible, since such transactions must be not less than the minimum of 500 million dinars.
Noting that electronic connectivity between private and Government banks and branches will provide high liquidity for investors who invested in shares of the stock market through the linking clearing bank that deals with private funds on customers or brokerage companies expressed the view that ... the speedy movement of private capital in buying or selling in the market will increase the trading process And turnover arrow pushing market indicators.
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