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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