Page 22 - ISX Year Book 2023 EN
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Iraq Stock Exchange’s Annual Report 2023



               Eighth: Board of Governors

               The  Exchange  Board  of  Governors  held  (11)  meetings  in  2023,  in  the  course  of  which  it
               discussed and approved a number of decisions, the most important of which were as follows:

                   1.  Working  within  the  committee  of  the  agreement  between  the  Iraqi  and  Egyptian
                       governments signed on Jun. 30,2023, by the prime ministers of the two countries. In
                       the fourth paragraph of its minutes, the agreement includes a draft memorandum of
                       cooperation  established  between  the  two  sides,  which  consists  of  the  following
                       frameworks:
                          •  Joint cooperation in exchanging information and expertise for the purpose of
                              developing  performance  of  non-banking  financial  institutions  (brokerage
                              firms),  and  increasing  awareness  of  luring  investors  into  establishing  new
                              companies.
                          •  Boosting savings and directing them towards investing in securities.
                          •  Supporting the transition of both countries to a digital economy.
                          •  Developing work mechanisms through exchanging information on legislation
                              that  includes  activities  related  to  securities  exchange,  and  legally  permitted
                              disclosure procedures in both countries.
                          •  Studying the possibility of linking the two stock exchanges for the purpose of
                              encouraging  the  trading  of  securities  between  the  two  stock  exchanges,
                              facilitating  the  procedures  of  brokerage  firms,  and  diversifying  financial
                              products with the aim of increasing liquidity.
                          •  Cooperation in developing regulatory and technical procedures, and training
                              human resources to increase competitiveness in a way that enhances the position
                              of the two Exchanges among their counterparts.
                          •  Periodically  evaluating  the  cooperation  experience  at  the  end  of  each
                              implementation period, and benefiting from the results of its execution.

                   2.  Monitoring  activities  of  the  Exchange,  its  departments,  and  securities  trading  on  a
                       monthly basis.
                   3.  Monitoring the activity of the Iraqi Depositing Center, and procedures undertaken by
                       the Shareholders Corporate Management System in dealing with joint-stock companies
                       on a monthly basis.
                   4.  Negotiating  with  the  Nasdaq  Technologies  Company  and  a  number  of  regional
                       exchanges to modernize the central deposit system, through a joint committee between
                       the Iraqi Securities Commission, ISX Board of Governors, and technical departments.
                   5.  Negotiating to introduce new regulatory systems and benefiting from the experiences
                       of other regional exchanges.
                   6.  Negotiating  for  the  selection  of  an  online  trading  system  for  investors  through
                       brokerage companies and benefiting from the experiences of an array of Arab stock
                       exchanges.
                   7.  Negotiating to adopt electronic payment methods by customers in exchange for the
                       services that the ISX provides.
                   8.  Granting approval for the Iraq Stock Exchange to undertake building its website.
                   9.  Listing the first tranche of the Sukuk Al-Imar (Reconstruction) bonds based on the letter

                                                                              th
                       of the Central Bank of Iraq No. 234/34 issued on Nov. 28 ,2023, and its attachment to



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