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Economy News - Baghdad
The Iraqi Securities Commission organized the “World Investor Day” conference, in the presence of a large number of government and private sector figures, in order to enhance the investment climate and attract national and international capital.
On its second day, the conference came out with important recommendations, which were as follows:
First - Working with the competent authorities to list public companies in the Iraq Stock Exchange and selecting companies that have priority for listing within criteria set by the Financial Inheritance Authority and authorizing the Authority to prepare the project structure and implementation mechanisms.
Second: Forming an advisory committee on the merger and acquisition endeavors of private Iraqi banks, with the aim of maturing the options available to these banks and reducing the possibilities of delay, hesitation, or error.
Third - Recommending the necessity of accelerating the issuance of the Securities Commission Law to enable the Commission to play a more effective role in regulating markets and issuing legislation that protects investors, stimulates foreign investment, and enhances corporate governance in Iraq, taking into account environmental and social standards.
Fourth - Issuing a system that specifies the standards and conditions that must be met by auditors and by institutions and companies subject to the Securities Commission, with the aim of enhancing transparency, disclosure, timing of issuing statements, and the novelty of those statements.
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