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Signing an agreement for financial investment and economic development in Kurdistan
Economical 2023/08/24
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Baghdad: morning
Yesterday, Wednesday, the Securities Commission signed a cooperation agreement between it and the International Center for Finance and Trade, obligating the two parties to enhance financial investment and develop economic activities in the Kurdistan region, in a strategic step aimed at supporting the Iraqi economy and enhancing cooperation between the public and private sectors. A statement issued by the authority stated that Faisal Al-Haimus, Chairman of the Securities Commission, and Saad Abdul-Qahar Al-Sheikh, Director General of the International Center for Finance and Trade, signed the agreement in the city of Sulaymaniyah, and this step comes as part of a strategy to achieve sustainable development by strengthening the economic environment and expanding the base investment. According to the statement, the agreement included many objectives, including strengthening the role of the Central Bank of Iraq in supporting the initiative related to the establishment of the International Center for Finance and Trade in Sulaymaniyah.
The statement added that the agreement seeks to encourage and enhance the culture of investing in securities, noting that the Commission and the Center are working, according to the agreement, to exchange expertise and knowledge in the legal, administrative and technical fields to enhance investment activity in securities in the Kurdistan region, and to make joint efforts to attract investors and develop the economic climate. The statement noted that within the framework of the agreement, the JSC will open an office in the International Center to enhance investor confidence in entering the stock market, while the Iraqi Stock Exchange will be supported by opening a branch in the International Center, which contributes to expanding the scope of investment and increasing financial activities.
The Commission concluded its statement that this agreement "is a proactive step to keep pace with the global financial and commercial development, and reflects the commitment of the Commission and the Center to enhance cooperation, achieve sustainable development, and provide an appropriate environment for investment in Iraq."
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