Page 28 - ISX Year Book 2023 EN

Iraq Stock Exchange’s Annual Report 2023

Thirteenth: Custodian’s Bank

The Custodian’s offices began their activities in 2023, pursuant to the regulations No. 17 and
their amendments for 2022. The Iraqi Securities Commission and ISX Board of Governors
have granted 4 licenses for establishing the following offices:

- The office of the Iraqi Islamic Bank
- The office of the National Bank of Iraq
- The office of the Elaf Islamic Bank
- The office of the International Development Bank

These offices met the requirements of activity and connectivity with the electronic systems
adopted by the ISX through:

1. Preparing a custody system for the purpose of organizing technical, accounting and
administrative procedures.
2. Continuing work on procedures of creating a custodian account in cooperation with the
Iraqi Depository Center, in accordance with the powers granted.
3. Preparing a custodian bank agreement in cooperation with the IDC.
4. Documenting data of local and foreign investors by authorizing the custodian entities
to provide the required services.
5. Ensuring the integrity of custody procedures through holding meetings with employees
of the ISX, and providing them with presentations by the custodian entities, upon
establishing a custody system.
6. Developing a plan to attract investors, and promoting the services provided by the
custodian entities.

Fourteenth: Scientific Cooperation with Colleges & Universities

• Scientific Visits Made by College & University Students
The Iraq Stock Exchange received 557 students of 26 universities and institutes at its
headquarters in 2023, where lectures on procedures of establishing accounts at the
Central Depository System, mechanisms of trading in the Exchange via its electronic
systems and the effect of the financial position of a listed joint-stock company on its
share price were given. The participants were provided with practical training under the
supervision of authorized traders at the Brokers’ Hall of the ISX.

• Training Programs for College Students & Bank Employees

• Workshops, Seminars & Conferences Co-hosted with Universities

• International Women’s Day Celebration
The Iraq Stock Exchange organized a ceremony under the slogan “Innovation and
th
Technology” at its headquarters on Mar. 8 2023. The event saw the virtual
participation of the International Finance Corporation (IFC) via the Webex platform,
and the presence of participants who represented the Institute of Directors (IoD), and
listed joint-stock and licensed brokerage companies. On this occasion, the ISX hosted
faculty and students of the Uruk University.

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