Iraq Stock Market Report

Rabee Securities Iraq stock exchange (ISX) market report (trading week ending: 31st October 2024).

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

* Including OTC market

** Selling price of the dollar by banks and non-bank financial institutions to the final beneficiary

*** Selling price of the dollar by the CBI to the banks

(1) Excluding OTC market

Iraq Stock Exchange

• According to a CBI letter sent to all licensed banks about the monetary policy and reactivation of securities, the monetary policy rate has been reduced from 7.5% to 5.5%. An annual plan was also announced to reactivate Islamic securities (Islamic certificates of deposit and traditional transfers) for 14-day and 182-day terms, with respective returns of 4% and 5.5%. The maximum investment limit shall not exceed 50% of the bank's total private-sector deposits. Additionally, the bank's investment ceiling for a single auction shall not exceed IQD500 bn. (CBI)
• Chairman of the Board of Directors of the International Development Bank (BIDB), Ziad Khalaf, confirmed, on Tuesday, that the growth in the volume of trade exchange between Iraq and the UAE reached 41%. (INA)
• Al-Mansour Pharmaceuticals Industries (IMAP) clarified to ISC that the approval of the General Authority for any contract concluded by the company is the decisive factor in whether the contract enters into force or not. IMAP provided the necessary data regarding the contract for establishing a building for the production of specialized medicines for the treatment of cancer diseases.
• Babil Animal & Vegetable Production (ABAP) invited its shareholders to receive their cash dividends for the fiscal years 2022 & 2021 at the company's HQ, starting Oct. 27. The company decided in its recent AGM (May 19) to distribute IQD1.0 cash dividend per share.
• Babil Animal & Vegetable Production (ABAP) fulfilled ISX's request to explain why the prices touched the higher limit on Oct. 22 and Oct. 23. The company disclosed that the fundamental events or new matters that affected the price of the shares were related to the company's announcement of dividend distribution (100%) and the company's ambitious plan for expansion & activities.
• National Islamic Bank (BNAI) has completed the legal procedures for the capital increase through an 11.63% rights issue and a 4.98% bonus issue to IQD351.0 bn.
• Al Sanam Islamic Bank (BSAN) started trading in the OTC on Oct. 27 after completing the procedures for registering the shareholders' shares.
• The Light Industries (ITLI) have sent a late payment fine for the final accounts for the year 2018 to ISC in the amount of IQD2.5 mn.

Stocks that resumed / will resume trading:

• Rehab Karbala (HKAR) resumed trading on Oct. 27 after holding its AGM on Oct. 20 in which they discussed and approved 2023 annual financial statements.
• Iraqi Date Processing and Marketing (IIDP) resumed trading on Oct. 30 after holding its AGM on Oct. 26 in which they discussed and approved 2020, 2021, and 2022 annual financial statements and electing five original and five alternative board members.
• Mamoura Real-estate Investment (SMRI) resumed trading on Oct. 30 after holding its AGM on Oct. 27 in which they discussed and approved electing seven original and five alternative board members.
• Original shares of Ameen Al-Iraq Islamic Bank (BAME) resumed trading on Oct. 31 after holding its AGM on Oct. 15 in which they discussed and approved 2023 annual financial statements and increasing the paid-in capital from IQD250.0 bn to IQD353.0 bn through a 40.0% rights issue and a 1.2% bonus issue.
• Arabia Islamic Bank (BAAI) resumed trading on Oct. 31 after holding its AGM on Oct. 19 in which they discussed and approved 2023 annual financial statements.
• Iraqi Agricultural Products Marketing Meat (AIPM) resumed trading on Oct. 31 after not being able to hold its postponed AGM on Oct. 21.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Ready Made Clothes (IRMC) starting Oct. 28 due to the AGM that will be held on Oct. 31 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX suspended trading of National Chemical & Plastic Industries (INCP) starting Oct. 29 due to the AGM that will be held on Nov. 3 to discuss and approve electing four original and four alternative board members.
• ISX suspended trading of Trust International Islamic Bank (BTRU) starting Oct. 31 due to the AGM that will be held on Nov. 5 to discuss and approve 2023 annual financial statements and elect seven original and seven alternative board members.
• ISX will suspend trading of Al Janoob Islamic Bank (BJAB) starting Nov. 12 due to the AGM that will be held on Nov. 16 to discuss and approve electing new board members.
• ISX will suspend trading of Al-Mosul for Funfairs (SMOF) starting Nov. 12 due to the AGM that will be held on Nov. 16 to discuss and approve 2023 annual financial statements, dividend distribution, and electing four original and four alternative board members.
• ISX will suspend trading of Baghdad Hotel (HBAG) starting Nov. 13 due to the AGM that will be held on Nov. 18 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Erbil Bank for Investment (BERI) starting Nov. 26 due to the AGM that will be held on Nov. 29 to discuss and approve 2023 annual financial statements and elect 7 original and 7 alternative board members.

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