Iraq Stock Market Report| MENAFN.COM

Friday, 30 September 2022 01:20 GMT

Iraq Stock Market Report


(MENAFN- Iraq Business News)

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 22nd September 2022).

Please click here to view a table of listed companie s and their associated ticker codes.

The RSISX index ended the week at IQD940 (+1.1%) / $822 (+1.1%) (weekly change) ( +2.4% and +2.1% YTD change, respectively). The number of week traded shares was 31.5 bn and the weekly trading volume was IQD9.0 bn ( $6.0 mn ).



ISX Company Announcements

  • This week there were two cross transactions on 29.3 bn shares of Economy Bank (BEFI) on Sep. 19 and Sep. 20, valued at IQD5.9 bn, and they were corresponding to 11.7% of BEFI's capital.
  • The Iraq Stock Exchange (ISX) and Elaf Islamic Bank (BELF) signed on Sep. 20 a license contract - Al-Hafidh Al-Ameen (the custodian) -, in the presence and supervision of the Iraq Securities Commission (ISC), after the completion of the requirements of the custodian's instructions including obtaining the approval of the Central Bank of Iraq (CBI), ISC and the Board of Governors of the ISX. The main custodian services which will be provided to investors (who are wishing to receive those services) are opening securities account for each investor, keeping securities, notifying the investor of all decisions and actions taken by joint stock companies related to the rights associated with their securities. (ISX)
  • Stocks that resumed / will resume trading:
    • Original shares of Modern Animal and Agricultural Production (AMAP) will resume trading on Sep. 25 after holding its AGM (Sep. 15) in which they discussed and approved 2021 annual financial statements and decided to increase the capital to IQD20.5 bn through 400% rights issue and approving amending the name of the company by adding an activity of 'Trade and Industry of Foodstuffs'.
    • Region Trade Bank (BRTB) resumed trading on Sep. 20 after holding its AGM (Sep. 13) in which they discussed and approved 2021 annual financial statements.
    • Iraqi Agricultural Products and Marketing Meat (AIPM) resumed trading on Sep. 19 due to disclosing its financial statements.
  • Stocks that were suspended / will be suspended from trading:
    • ISX suspended trading of Commercial Bank of Iraq (BCOI) starting Sep. 22 due to the AGM that will be held on Sep. 27 to discuss and approve 2021 annual financial statements and discuss cash dividends distribution.
    • ISX will suspend trading of Al Mustashar Islamic Bank for Investment & Finance (BMUI) starting Sep. 28 due to the AGM that will be held on Oct. 3 to discuss and approve 2021 annual financial statements.
  • CBI announced July's data for Iraq banking sector this week. Accordingly, total assets increased 0.8% m/m (+8.6% ytd) to IQD173.1 trln ($116.2) as end of July 2022, total deposits increased 2.9% m/m (+12.1% ytd) to IQD107.7 trln ($72.3 bn) and total credits decreased 0.7% m/m (+6.1% ytd) to IQD56.2 trln ($37.7 bn) as end of July 2022.
  • CBI announced updated numbers for inflation and its net foreign assets. Accordingly, annual inflation for July 2022 announced at 5.4% decreased from 5.5% in June. Net Foreign Assets of CBI announced at IQD119.0 trln ($79.7 bn) as of Aug. 25, 2022, up 28.0% since the end of 2021.

The post Iraq Stock Market Report first appeared on Iraq Business News .

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