A government advisor reveals the most important tasks of the Finance and Business Center in Iraq

[size=46]A government advisor reveals the most important tasks of the Finance and Business Center in Iraq[/size]

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 Economy
 

•  Yesterday, 17:01
  
  

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Baghdad - Conscious - Nassar Al-Hajj
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Today, Friday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the most important tasks of the Finance and Business Center in Iraq, while confirming that it will be a place for the activities of selling and trading governmental and private securities, similar to what exists in the world.
Saleh said, to the Iraqi News Agency (INA), that "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 the financial operations in which a spectrum contributes are concentrated. A wide range of institutions participating in financial activity in our country, in which their business is integrated and interconnected in their inputs and outputs, specifically banking business and management of various assets and financial assets, and non-banking financial sector business such as insurance and reinsurance companies, financial investment funds, hedges and various logistical businesses that support financial market activity, i.e. its two parts (banking and non-banking), supported at the same time by various financial intermediation businesses that will use very modern financial technologies.
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.
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 are local and international banks, insurance companies, investment funds and the capital market.
And he indicated that "the financial center is an important site in conducting transactions related to modern financial engineering, such as (financial securitization) operations and other management of financial derivatives and their modern tools, in addition to tax regulation work for them." 
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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