Governmental Adviser: Internationally approved financial instruments will have their correct birth i

[size=46]Governmental Adviser: Internationally approved financial instruments will have their correct birth in Iraq[/size]

Economy

[size=30]The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that it will be a place for the activities of selling and trading governmental and private securities, similar to what exists in the world, pointing out that the importance of the financial center in Iraq announced by the Central Bank of Iraq.[/size]
 
[size=30]Saleh said in a statement, "The importance of establishing the financial center in Iraq announced by the Central Bank of Iraq lies within the scope of the country's financial and banking development strategy and a new start in the importance of establishing and building a spatial or geographical location in which financial operations are concentrated in which a wide range of institutions participating in the activity contribute." The financial sector in our country in which their businesses are integrated and linked in their inputs and outputs, specifically banking business and management of various assets and financial assets, and the business of the non-banking financial sector such as insurance and reinsurance companies, financial investment funds, hedges and various logistical businesses that support the activity of the financial market, i.e. in its two parts (banking and non-banking), At the same time, it will be supported by various financial intermediation businesses that will use ultra-modern financial technologies .[/size]
 
 
[size=30]He added, "The aforementioned center will be a place for the activities of selling and trading governmental and private securities, whether stocks as property instruments or bonds as debt instruments, whether those are listed in the Iraq Stock Exchange and not, in addition to various clearing operations and the general activities of the primary and secondary financial markets as issuing and trading bodies." Securities .[/size]
 
[size=30]And Saleh continued, "The financial center includes consulting offices such as the offices of accounting and auditing companies, related legal offices, and credit rating agencies," noting that "in this way, the financial center is an integrated complex of services and a geographical spot that enables dealers to have direct access to large capital pools." At the forefront of which are local and international banks, insurance companies, investment funds and the capital market .[/size]
 
[size=30]And he indicated that "the financial center is an important site in conducting transactions related to modern financial engineering, such as operations (financial securitization) and other management of financial derivatives and their modern tools, in addition to the work of tax regulation thereof ."[/size]
 
[size=30]He stressed, "The financial instruments approved in the world's financial markets will find their correct and legal birth in the financial center of Iraq, similar to the financial centers in the world such as Dubai, Singapore, Shanghai, and many of them in international cities in London, Frankfurt, New York, and others. "[/size]


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