Iraqi Stock Exchange to attract foreign investors

On: Tuesday 01/11/2011 14:54

Chief executive of the Iraqi Stock Exchange, Iraq is expected to attract more foreign investment in 2011.
Said Executive Chairman of the Iraqi Stock Exchange on Sunday that is expected to attract Iraq more foreign investment this year after I bought the foreign investors more than it sold in the Stock Exchange of Iraq in 2010 Mguetnasin shares amounting to 53 million dollars. "Taha Abdul-Salam said foreign investors showed interest in a broad Domain shares of 85 companies listed on the Stock Exchange is expected to increase their interest with improved confidence after the formation of the new government. "I bought a (foreign) about 36 billion shares and sold five billion shares only." "I think that number will rise (this year)."
He said that foreigners, mostly from the United States and Europe, the Gulf and Egypt had bought shares worth $ 62 billion Iraqi dinars (53 million dollars) in 2010. It was selling shares worth eight billion dinars.
And much-needed infrastructure crumbling in Iraq to the investment with the country's recovery slow after decades of war and economic sanctions. And began to foreign companies to pump money into oil-rich Iraq, but the security situation and bureaucratic obstacles remain a source of concern as U.S. troops pull back after eight years of US-led invasion Nations. Abdel Salam said that the formation of a new government after more than eight months after the inconclusive election raised hopes among foreign investors greater stability in the country. The Iraq Stock Exchange, which started operations in 2004, a location rarely capitalist in a country dominated by state companies. And turned stock trading manual to use the screens to deal electronic in 2009 and opened for trading two hours a day, five days a week. The banking sector is the largest in the exchange, which also includes the shares of industrial companies, insurance companies, hotels and agricultural companies. The total value of shares listed on the Stock Exchange about three billion dollars Abdul Salam is expected to rise this year
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