Iraqi market-report/interview

Report: rising steadily achieved Market index Iraq Stock Exchange during trading sessions in the first half of this year, the index has recorded gains of more than 10% or more than three points and a half point during the past six months.
Shirwan two doors (Chairman of the Board of Governors of the Stock Exchange): the truth of performance we aim for a good performance for the first half as indicators that we have compared with the second half of in 2007, these indicators pursue them through the reports that exist for us in terms of trading in stocks of companies more truth da Transactions Come on the banking sector.

Report: Despite the volatility witnessed by the index rises, however, have been the dominant feature which, in the XIII of the March index recorded its highest level since the half year at 38.6, followed by another summit in the index reached the third month of hearings last June at a level close to 39 points This represents the highest increase since the end of August 2007, has achieved price gains of shares of companies in the first half of the Iraqi Stock Exchange recorded significant rises in prices during the period, as the company's share of television production Babel highest increase among the shares of the stock exchange at 750 fils on the price during the previous month February, with share prices surged Bank for Investment Dar es Salaam seven hundred fils, and the record company Zapata shares for investment fiscal third-largest rise in share price during the month of March at 500 fils, while the number of contracts signed by foreign investors has reached the highest levels this year during the month of March at 443 Contract.

Taha Ahmed (Executive Director of the Stock Exchange): talk that we are talking about in 2007, especially in the second half of that in 2007 there will create competition and actually created a competition for non-Iraqi investors in circulation alongside the Iraqis, but we have seen in the first half of the year 2008 there Competition for investors entered the new Iraqi Skating investment in the Iraq market for securities along with existing investors, leading to the circulation rates and indicators of circulation in the first half so high.

Report: According to analysts expectations of continued rise in the number of contracts in the second half of this year, in contrast to the forecasts indicate a marked decrease in the price of company shares at the beginning of the third quarter this year with the start of what is known among investors season reap profits.

Hamdan Jerjaoi: joins us from Irbil was Mr. Judge, board member of the Bank of Assyria, Syed raised Welcome and thank you for joining us, I mean we report if we look at the performance of the index during the first half of this year we find it has risen by 10%, but trading volume means Is still weak Do you think that the reasons related to the performance of companies? Concerning technical reasons? Or is the preoccupation with security is still in control of the investment?
Judge raised: Yes, my dear, thank you, of course, at the outset I wish to point out that trading volume was at the beginning in 2006 less than 2007, in 2007 trading volume was slightly larger, but still does not constitute the required size, and the reason for this: First, as you know that capital Iraqi funds have migrated abroad for many reasons, not to mention that the market manual method used in circulation that any share certificate or certificate of ownership of shares is issued only after several days up to two weeks from the date of purchase. This, of course, affect the investor because the investor always wished that drives the portfolio and invested day to day, and our perception that the market will improve in the second half of this year, where there are several reasons, the market is now moving towards the use of electronic automation will be a sophisticated electronic system, in addition to that Central Bank of Iraq in his policy for the second half reduced the interest rates and this reduction will certainly draw the volume of investment or the volume of money supply used by investors of civil banks into the market. Of course, this was not in the first half than in 2007. In the first half were higher interest rates, central bank head toward the reduction, and we expect him towards the reduction and will withdraw the money supply to the market.

Hamdan Jerjaoi: I want to talk here about the pilot sectors in the market, if we look at the dealings of this year, we find that the banking sector took the largest share of transactions followed the service sector and industry, why the banking sector specifically, without other sectors?
Judge raised: Yes. Of course, the banking sector has witnessed over the past few years a marked improvement and evolved considerably, and this development due to the ambitious directors of those banks to develop their work, to see that many of these banks have increased their capital and aims to increase more, in addition to these banks started trading of foreign banks Where services are services launched recently in Iraqi banks, credit services to small and medium For instance, this service were not previously known, there are some corporate backing to the banking sector such as the newly established Iraqi company for banking guarantees, a guarantor of loans, which used to guarantee loans granted by Before banks, it is worth noting also that there is the newly founded company called company funds for electronic banking services, the company expect to play a leading role in introducing new services, where will be able to use Iraqi or foreign Visa or Master Card or any type of payment cards ..


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