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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Investment conference in the Iraqi market for securities in Dubai with the participation of minister

    Rocky
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    Investment conference in the Iraqi market for securities in Dubai with the participation of minister Empty Investment conference in the Iraqi market for securities in Dubai with the participation of minister

    Post by Rocky Wed 14 May 2014, 3:57 pm

    Investment conference in the Iraqi market for securities in Dubai with the participation of ministers and about 200 participants from Iraq and the countries of the region

    Wednesday 14 May 2014
    | 16:54


    Business investment conference in the Iraqi market for securities

    Capital market is one of the most important infrastructure that must be met by any State

    Was opened by the President of the Securities Commission of Iraq, Dr. Abdul Razzaq al-Saadi and head of the Board of Governors in the Iraqi market for securities Ali Jalil Obeid on Wednesday morning, business investment conference in the Iraqi market for securities held in the Ritz Carlton - DIFC in Dubai, with the participation of all of : Minister of Construction and Housing Iraqi engineer Mohammed Darraji and former planning minister in Iraq, Dr. Mehdi al-Hafez, and the President of the advisers in the Iraqi Council of Ministers and Minister of former oil engineer Thamer Ghadhban, and the presence of the Consul General of the Republic of Iraq in Dubai Ambassador Ismat Akeed friend, and about 200 participants mostly from investors The Iraqi businessmen and the countries of the region, and the purpose of this conference to explore the various opportunities carried by the Iraqi economy and, in particular, the investment opportunities in the capital market and the shares of Iraqi companies to contribute to, and look at the reality of the Iraqi market for securities and properties and future plans for its development and organization, and direct interaction with the audience of officials Iraqi government and the heads of a number of major listed companies in the Iraqi market for securities and participating in the conference, the conference is organized by the Iraqi market for securities and Economy and Business Group

    Began the opening session, the Executive Director of Economy and Business Group and Walid Abou Zaki certainly that Iraq was able to double its oil production to reach more than 6.3 million barrels per day, noting that the government seeks to reach production of about nine million barrels per day by the year 2020, and of course, this level of production reflected significant growth and accelerating GDP estimated at about 10 percent on average over the past decade, stressing that this growth will be the ideal environment for the growth of joint-stock companies and the business sector.

    In turn, the Chairman of the Board of Governors in the Iraqi market for securities Ali Jalil Obeid The capital market is one of the most important infrastructure to be met by any country aimed at or moving towards a free economy and open society, and without it can not be any development operations or investment to be nor can also succeed privatization processes that want the state made ​​in its economic sectors different because of which combine sources of funding and are buying and selling shares of those companies which we call trading operations capital, and added that the capital market provides a sound environment for investment savings through aggregated and used to finance various economic projects, As provided by the market regulations and instructions to protect that money makes in the form of shares traded.
    And the number of slaves the most important characteristics that distinguish the work of the market at the current stage, namely:
    1 - adoption of electronic trading as of April 19, 2009, through the latest trading systems used in the world, has signed a market recently a contract to modernize this system and its new - X Tream after he went to use the current version, five years, and we expect the adoption of the new version in half The second of the current year.
    2 - introduced Center The operations of deposit clearing and settlement, and considered independent of the market, financially and administratively, and has been associated with the Council of Conservative based on a decision of the Securities Commission, it is hoped to disengage permanently from the Iraqi market for securities and the Board of Governors, to be the center of a moral character financially and administratively independent It has its own Board of Directors.
    3 - allowed the instruction during the year 2007 foreign investment in the stock market and without restrictions or limitations, and the percentage contribution of investment is Iraqi in some companies more than 40 percent of the issued share capital, not to mention the posts that have been among the Iraqi banks and the banks non-Iraqi has Bglet 85 per cent in some of them. Gulf banks has been characterized from the other in the number and size of the posts with Iraqi banks. Not limited to those investments in this sector, it was in the industrial sector and the real estate investment sector as well.
    4 - listed on the market for the first time during last year's first telecommunications company, a company "ACL" has been subscribed for by the concession contract approved in the amount of 25 percent.
    5 - Focus on the principle of transparency and disclosure through annual and periodic reports issued by companies listed on the market, because of the importance to investors in making the right decision when buying or selling, and through follow-up and supervision of the securities.

    Obeid added that the Board of Governors of the market is planned for the next phase to the following:
    1 - the completion of the establishment of SDC Iraq to act as a depository, clearing and settlement of equity capital markets in Iraq.
    2 - to grant a franchise to provide service custodian bank for any Iraqi or foreign or jointly, as this has the effect of increasing the volume of trading in the foreign market.
    3 - Payment of securities law to the legislation to see the light and are working with it.
    4 - reconsidering any instructions or procedures that could affect the trading market for the investor, whether local or foreign.
    5 - the inclusion of a second telecommunications companies in the Iraqi market for securities by the end of this year, a company of the Rings Telecom, a subsidiary of Zain Telecom, which owns the second license in the field of telecommunications in Iraq.
    6 - to accept the inclusion of all private banks, unlisted in the Iraqi market for securities and braved the nine banks.
    7 - Board of Governors began to study and reconsider the Listing Rules, to accommodate or meet the requirements of companies that the government is currently considering privatized.


    The Chairman of the Securities Commission of Iraq, Dr. Abdul Razzaq al-Saadi, talked about the role of the Commission, pointing out that it was in 2004, issuing a temporary law means the organization of work in the securities sector in Iraq, has been under which the establishment of an independent government body functions of supervision and control over the sector, the Securities and goal Securities markets, private sector and filing status and Iraqi companies listed on the markets, in addition to the association and the capital market intermediaries as an NGO.


    At the conclusion of the opening session, honored a group of Economics and Business, both of the President of the Iraqi Securities Commission, Dr. Abdul Razzaq al-Saadi and the President of the Board of Governors in the Iraqi market for securities Jalil Ali Obaid, through giving them a souvenir cups, in recognition of their efforts.

    He said the conference its first session, took the privilege of ministerial character, headed by the former Minister of Planning in Iraq and the current president of the Institute for the progress of the development policies d. Mehdi al-Hafez, and in which he spoke of all the Minister of Construction and Housing Iraqi engineer Mohammed Darraji and head of the advisers in the Iraqi Council of Ministers and former oil minister Thamer Ghadhban Eng. Where the session discussed the prospects of the Iraqi economy dealt with indicators of growth and development policies in Iraq, plans and infrastructure development projects and oil and gas sector in Iraq, and the investment opportunities available in different economic sectors in Iraq.

    D began. Hafiz session by saying that the oil is still the dominant sources of financial funding in Iraq, and still the public sector magnifier does not offer fruit economical feasible. Oil and the public sector are two features Alasasatan the current economic situation in Iraq, and the tasks pursued economic reform requires reducing the dominance of oil revenues on the case economic, and adopt a policy of diversification of the economy and the development of other productive sectors such as industry, agriculture, communications and tourism, and make it productive sectors. Then comes the tasks of developing the private sector and the middle class in Iraq, on the grounds that the market economy relies mainly on making the private sector a leading commander in the economic life.


    The Minister of Construction and Housing, Mohammed al-Darraji that the value of the general budget of Iraq during the year 2014 amounted to about 130 billion dollars, the amount is high, but the problem is that about 60 percent of this budget is for operating expenses rather than be its majority earmarked for the financing of investment projects, although there is an urgent need for investment and development in all economic sectors. For example, a few, there are tremendous business opportunities in the housing sector, Iraq needs to be more than 150 thousand units population each year, in light of spending a year does not exceed one billion dollars annually in this sector, along with a very small contribution from the private sector.


    The head of the advisers in the Iraqi Council of Ministers Thamer Ghadban spoke about plans to develop the oil industry in Iraq, where he pointed to the need to invest and manage this wealth contributes to economic growth, and said that there are a lot of opportunities in this sector, given that Iraq is the third largest state in terms of oil reserves. He pointed out that: Iraq's oil production rose from 2.3 million barrels per day in 2008 to about 3 million barrels per day during the year 2013, bringing the amount of Iraqi oil exports of 1.8 million barrels per day to 2.4 million barrels per day during this period. This sector suffers from some of the challenges, most notably:
    - Security in the oil and gas facilities
    - Decision-making with respect to the amount of daily oil production.
    - Infrastructure development
    - Development of export outlets
    - Marketing increasing quantities of crude oil.
    He Anger: at a time when Iraqi government is seeking to power up oil production to 9 million barrels by 2020, to face another set of challenges for the sector, the production of gas, and are those challenges; need to build additional facilities in a timely manner, expand the network of gas pipelines , increase the supply of free gas in addition to the possibility of providing the required investments. Currently, there are 4 new projects in the gas sector, a Basra Gas Company, Adaqh to tender for the two facilities in the field of gas and tender in the development of three gas fields in addition to the expansion of gas drilling.

    Far dealt with the reality of the Iraqi economy and its prospects, plans and development projects designed to him, focused conference program on the search depth across its cascading in a number of central themes of the utmost importance for the development and growth of the Iraqi economy and the movement of investment in, and of, especially in the reality of the market of the Iraqi capital and its properties and programs developed and updated, The review of the laws governing the activity, especially in terms of supervision and control and disclosure, and plans designed to encourage Arab and foreign investment in the financial market and Iraqi companies listed therein, in light of the serious efforts for the development of this market update and frameworks procedural and legal guarantor of the safety of dealing with them and the development of cooperation programs with their peers from Arab and international bodies and other related issues.


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