Page 19 - ISX Year Book 2023 EN

Iraq Stock Exchange’s Annual Report 2023

3. Amending ISX Internal Administrative By-laws
The Iraqi Securities Commission issued its official letter No. 13l17 on Oct. 31,2023,
amending the Internal Administrative By-laws of the Iraq Stock Exchange for 2008 so as
to include the following:
i. Amending Paragraph 4-2-2 to read as follows: “All Governors shall be elected
for a term of two year, with three possible extensions, except for the CEO who
shall be appointed in accordance with the procedures set out in these By-laws
regarding the appointment of the Exchange employees.”
ii. The Commission has the authority to make exceptions to what is indicated in the
first paragraph above according to the requirements of public interest.
iii. Any change to membership structure of the Exchange Board of Governors must
obtain a prior approval of the Commission. Pursuant to this amendment, the ISC
agreed to extend the term of the current Board of Governors as mentioned above.

4. Issuing Regulations No. (20) of 2023 for Licensing Brokerage Firms

As stated in the letter of the Iraqi Securities Commission No. (12/13) of Mar. 8th, 2023.

5. Issuing Regulations No. (21) for Registering, Updating, and Maintaining
Shareholder Register for Members of Over-the-Counter Market
Regulations No. (21) for Registering, Updating, and Maintaining Shareholder Register
for Members of Over-the-Counter Market were approved by the Commission. For more
details, please see the Appendix to this report. The ISX-OTC platform will be launched
nd,
th
as of Tuesday Jan. 2 2023, pursuant to the ISC’s letter No. 2843/9 of Dec. 25 ,2023.

6. Issuing Regulation No. (22) of 2023 to Open Branches for Iraq Stock Exchange

7. Listing First Tranche of Sukuk Al-Imar (Reconstruction) Bonds of 2023

8. Circulars Issued to Brokerage Firms
• The Commission’s letter No.266/2 of Nov. 29, 2023, to brokerage firms, and its
annex regarding Regulations of Rules of Due Diligence No. 2 of 2023 that aim at
high-ranking, high-risk office holders of financial institutions, and non-financial
operations and occupations, which were issued by the Anti-Money Laundering
and Countering Financing of Terrorism Office.
• The Commission’s letter No.267/2 of Nov. 29, 2023, to brokerage firms, and its
annex regarding Regulations of Rules of Due Diligence No. 1 of 2023 that aim at
clients of financial institutions, and limited non-financial occupations, which were
issued by the Anti-Money Laundering and Countering Financing of Terrorism
Office.

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