Page 6 - ISX Year Book 2023 EN

Iraq Stock Exchange’s Annual Report 2023

The Iraq Stock Exchange’s

Annual Report 2023

Introduction
Financial markets in various countries of the world have adopted a set of plans seeking to
enhance financial stability, and achieve growth in the size of business sector projects by
promoting the role of establishing joint-stock companies, attracting national and foreign
savings, and facilitating the movement of capital through laws, rules, electronic systems, and
anti-money laundering and terrorist financing mechanisms.

Regarding the national securities sector, the Iraqi Securities Commission and Iraq Stock
Exchange Board of Governors have sought to approve plans for widespread use of digital
systems, which the ISX began to adopt in 2007 and then launched after two years. Those plans
have pursued their quest by adding new trading platforms that allow trading in shares of listed
and unlisted companies and transferring of their ownership in a manner considers the
companies’ different classifications in disclosure and listing, and by efficient use of rules which
in turn requires rapid flow of information to investigate and follow up on the implementation
of procedures pertaining to anti-money laundering and financing of terrorism, examining the
scenarios followed by the adopted electronic systems to screen information flow, and
cooperation with the official institutions in executing their actions through electronic screening
and cross-checking.

In the course of 2023, the ISC amended Regulations No. 16 for trading in securities by insiders,
Regulations No. 23 for the platform of undisclosed companies, and the brokerage firm licensing
Regulations No. 20. In cooperation with the Central Bank of Iraq, Ministry of Trade's
Registration of Companies Department (Tasjeel) and ISX, the Commission addressed the
question of listing, depositing and trading shares of unlisted joint-stock companies by issuing

Regulations No. 21, which require the electronic systems to adopt certain technical procedures
in order to allow these new mechanisms to be added. The ISC also legislated Regulations No.
22 to create branches of the Exchange in Iraqi governorates, which are expected to increase
prevalence of investment and trading services, and to draw in savings towards businesses
through the Primary and Secondary Markets of the ISX.

The Iraq Stock Exchange demonstrates an interest in propagating a culture of investing and
trading in shares by following up shareholders’ affairs, and publishing statements of quarterly
and annual disclosure and extraordinary significant events on its website, on other sites owned
by the specialized organizations on which the ISX serves as member, including the Arab
Federation Capital Markets (AFCM) and Federation of Euro-Asian Stock Exchanges (FEAS),
and on the database of the Arab Monetary Fund (AMF). The Exchange achieved outstanding
positive results in competing for the best performance achieved in 2022.

The ISX devotes great attention to provide educational support for university students,
practically training visitors from 26 universities at its headquarters in 2023, while 557 students
received lectures on the procedures and 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.
In its Year Book, the ISX discloses indicators of trading in securities of listed companies and
other various activities, news of joint-stock companies and their general assemblies, and new
regulatory rules. Of the most prominent indicators that were achieved in 2023:

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