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Mix-Ansicht- Irakische Börse öffnet in zwei Monaten wieder... - kingsolomon, 09.12.2004, 18:21
Irakische Börse öffnet in zwei Monaten wieder...
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Iraqi Stock Market to rise again
Ali B. Al-Shouk - 23-Feb-2004
Baghdad - The Iraqi Stock Market, once renowned as the largest and most corrupt in the region, is to reopen following seven months of discussions between Iraqis and the CPA.
"After all the difficulties and problems that we have faced we are proud to say that there will once again be an Iraqi Stock Market," said Taleb Abass, a representative from the stock market who is also the president of the Iraqi Union for Mediators."The Iraqi Stock Market is new, and not merely a continuation of the old Baghdad Stock market.”
The Iraqi Stock Market is privately owned by 51 Iraqi finance companies.
"This market is 100% independent, and it's private, and will be managed by the owners according to strict rules,” said Abass.
In addition to the stock market a Center for Depositing and Transferring Money is to be opened to facilitate international business.
"The center will be the heart of the stocks and shares trading activity in Iraq," Taleb explained.
The New York Stock Exchange also will assist the Iraqi Stock Market during its formative period in a move symbolic of Iraq's transformation to a free-market economy.
"There will be big changes in the market structure in Iraq. There will be free exchange for the stocks according to the supply and demands, and the investors will be free to sell and buy. And there will be other improvements, for example the market in the past was manual, while the new market used a new electronic trading system," added Taleb.
"We want to lay down solid foundations in order to build a strong stock market in Iraq, and in the future, we want this market be the best in the world" said CPA advisor Jay Hallen, meanwhile a depository will be opened for the first time in Iraq, with the New York depository helping to circulate information.
The stock market plans to open in two months time.
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