Specialists: 3600 decision to expand crashes stock market

Specialists: 3600 decision to expand crashes stock market
 
Baghdad Muhammad Zuhairi

Detect the appearance of Mohammed Saleh, the deputy governor of the Central Bank of the former, the "guillotine" legal Cabinet collected more than 3,600 law and the decision blocked the advancement of the securities market, Iraqi Deputy for the parliamentary finance committee that the value of cash trading does not exceed five billion dollars, and the number of companies operating In these markets the company in 2000, it demanded an economist activate the securities market.

Saleh said "the world", on Monday, said that "the Iraqi government in front of more than 3,600 law and the decision to shut down the advancement of the Iraqi market economy."

He added that "this plethora of laws represents all financial legislation, which has developed since the formation of the Iraqi government and even now."

He explained that "the collection of these laws is a committee formed by the Council of Ministers under the legal name of the guillotine," noting that "this committee took it upon themselves to collect this large amount of laws and regulations, decisions and regulations."

He stressed that "Paradise [Guillotine legal] formed by a number of Iraqis and international experts," and they are "diagnosed laws that hinder the advancement of the market economy and suppress economic activity."

Saleh said that "the Commission continued two years in the collection of these laws and regulations," noting that "what I got out of the Committee presented to Parliament next for the purpose of reading it once and then vote on it."

He noted that the market for securities Iraq is still "an emerging market," and urged the availability of "laws put limits on the freedom of financial trading in the Iraqi market for securities."

The Deputy Governor of the Central Bank of the former that "Iraqi laws contain a lot of obstacles and red tape."

He explained that it "does not encourage the development of the Iraqi market for securities."

However, the amendment of these laws "will encourage the growth of a large market for securities."

In turn saw Abdul Hussein al-Yasiri, a member of the parliamentary Finance Committee that "the Iraqi market for securities lacks a lot."

He Yasiri, "the world", on Monday, said that "if we want to activate the markets for securities, we need to experts and technicians, as well as to develop new ideas for the advancement of this market."

He stressed that "the number of companies participating in the Iraqi market funds are currently more than 2,000 companies," describing the issue as "very small."

He said that "the value of trading in these markets does not exceed five billion dollars," adding that trading "very small in front of the global markets."

And demanded "reconsideration in these markets," stressing that "the survival of [financial markets] do not achieve what we seek."

For his part, economic expert on behalf of Anton "the need for the enactment of the stock market in the cabinet to support the stock market of Iraq."

Anton stressed "the world", on Monday, the need to "legislation a number of economic laws, in order to activate the Iraqi market for securities."

He explained that one of the important laws "is the labor law, and the law of income, and the law of registration of companies."

He pointed to the need to "create a good investment environment have less bureaucracy."

The director of the Iraqi market for securities, Taha Ahmed Abdul Salam, pointed out that there are many barriers that limit the activity of the financial market, noting that these barriers are not necessary legislation of laws relating to the stock market and other investments.

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