Rabee Securities


Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th Sept 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD719 (+0.3%) / $767 (+0.1%) (weekly change) (-11.3% and -8.2% YTD change, respectively). The number of week traded shares was 2.5bn and the weekly trading volume was IQD1.2bn ($1.0mn).

ISX Company Announcements

  • Iraq Baghdad for General Transport (SBPT) will hold an AGM* on Oct. 7, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of SBPT starting Oct. 2, 2018.
  • Babylon Hotel (BBAY) will hold a GA on Oct. 1, 2018 to elect five new private sector representatives. The company has been suspended from trading since Aug. 8, 2018 for not disclosing the annual financial report.
  • Gulf Commercial Bank (BGUC) will hold an AGM* on Sep. 29, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BGUC starting Sep. 25, 2018.
  • Kurdistan International Bank (BKUI) will hold an AGM* on Sep. 22, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BKUI starting Sep. 18, 2018.
  • Iraqi Islamic Bank (BIIB) resumed trading on Sep. 13 after discussing and approving 2017 annual financial results and deciding to distribute 3% cash dividend (IQD 0.03 dividend per share, 7.3% dividend yield).
  • Bank of Baghdad (BBOB) will hold an AGM* on Sep. 17, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BBOB starting Sep. 12, 2018.
  • Cihan Bank for Islamic & Finance (BCIH) will hold an AGM* on Sep. 15, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BCIH starting Sep. 12, 2018.
  • Asia Al Iraq Islamic Bank for Investment (BAIB) has completed the legal procedures to change the company name from United Company for Money Transfer (MTUN) to Asia Al Iraq Islamic Bank for Investment (BAIB), the company’s activity from money transfer to Islamic banking and increase the capital from IQD45 bn to IQD100 bn.
  • Karbala Hotels (HKAR) completed the procedures to increase its capital from IQD5.0 bn to IQD7.5 bn through 50% rights issue on Sep. 3, 2018.
  • Al-Harir for Money Transfer (MTAH) will hold an AGM* on Sep. 13, 2018 to discuss and approve 2017 annual financial results and to discuss merging with Al-Ameen Al-Arabiya for Money Transfer. ISX suspended trading of MTAH starting Sep. 10, 2018.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th Sept 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD717 (-2.4%) / $766 (-2.4%) (weekly change) (-11.6% and -8.3% YTD change, respectively). The number of week traded shares was 4.4bn and the weekly trading volume was IQD2.4bn ($1.9mn).

ISX Company Announcements

  • Al Taif Money Transfer (MTAI) will hold an AGM* on Sep. 23, 2018 to discuss and approve 2017 annual financial results. The company has been suspended from trading since Dec. 12, 2017 related with its decision to being converted into an Islamic bank.
  • Kirkuk for Producing (IKFP) will hold an AGM* on Sep. 15, 2018 to discuss and approve 2009, 2011, 2012, 2013 and 2014 annual financial results. In the AGM, the company will elect five original and alternative BoDs and discuss re-list shares of IKFP on the ISX. (Note: IKFP has been delisted from the ISX in Dec. 2013)
  • National Company for Tourism Investment (HNTI) resumed trading on Sep. 6, 2018 after discussing and approving 2017 annual financial results and to distribute 7% cash dividend (IQD0.07 dividend per share, 0.9% dividend yield).
  • Iraqi Islamic Bank (BIIB) will hold an AGM* on Sep. 8, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BIIB starting Sep. 4, 2018.
  • Credit Bank of Iraq (BROI) resumed trading on Sep. 4, 2018 after disclosing 2017 annual financial results.
  • Region Trade Bank for Investment and Finance (BRTB) resumed trading on Sep. 3, 2018 after discussing and approving 2017 annual financial results.
  • ISX requested National Household Furniture Industry (IHFI) on Sep. 3, 2018 to disclose the subscription results.
  • According to a letter sent by ISC to Economy Bank for Investment (BEFI) on Sep. 3, 2018, ISC decided to continue the suspension of BEFI in the ISX until the submission of full and clear financial statements by BEFI which will be prepared according to the accounting standards and audited.
  • Iraqi Islamic Bank (BIIB) disclosed that one of its shareholders (Srwa Amer Khdheir Al-Kubaisy) sold all of its 12.3 bn shares on Aug. 30, 2018, corresponding to 4.93% of BIIB paid-in capital.
  • Cross Transaction: 255 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Sep. 5, 2018, which represents 0.1% of BCIH capital.

Iraq Stock Market Market

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th Aug 2018).

Note: ISX will be closed starting from Aug. 21, 2018 to Aug. 26, 2018 due to the religious holiday of Eid Al-Adha. The next session will be held on Monday, Aug. 27, 2018.

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD736 (+0.9%) / $783 (+0.5%) (weekly change) (-9.3% and -6.3% YTD change, respectively). The number of week traded shares was 0.6bn and the weekly trading volume was IQD1.1bn ($0.9 mn).

ISX Company Announcements

  • Al-Harir for Money Transfer (MTAH) will hold an AGM* on Sep. 13, 2018 to discuss and approve 2017 annual financial results and to discuss merging with Al-Ameen Al-Arabiya for Money Transfer. ISX will suspend trading of MTAH starting Sep. 10, 2018.
  • National Chemical & Plastic Industries (INCP) will hold a GA on Sep. 3, 2018 to elect four new private sector representatives and alternative BoD members. The company has been suspended since Jul. 4, 2018 for not disclosing 2017 annual report and 3M18 fin1ancial results.
  • Region Trade Bank (BTRB) will hold an AGM* on Aug. 29, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BTRB starting Aug. 20, 2018.

Iraq Stock Market Market

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th Aug 2018).

Note: ISX will be closed starting from Aug. 21, 2018 to Aug. 26, 2018 due to the religious holiday of Eid Al-Adha. The next session will be held on Monday, Aug. 27, 2018.

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD729 (.1.9%) / $779 (-2.3%) (weekly change) (-10.1% and -6.8% YTD change, respectively). The number of week traded shares was 22.1bn and the weekly trading volume was IQD8.9bn ($7.4 mn).

ISX Company Announcements

  • Chairman of Iraqi Securities Commission (ISC), Abdul Razzaq Al-Saadi, said during an interview with newspaper Al Sabah that the obstacles of the work of the Commission is the absence of a modern law that suits the international laws, so the Commission has worked to prepare a law for it, and has completed 85% of it. He stated that within six months the law will be completed and sent to the House of Representatives. He pointed out that this law allows the development of work and the adoption of new systems, most importantly corporate governance, which are the most important pillars to attract foreign investors. (ISC)
  • The Central Bank of Iraq (CBI) has been awarded the ISO 9001: 2015 certification in the Quality Management System (LMS Certification) by the British LMS Certification. (CBI)
  • Al-Zawraa for Financial Investment (VZAF) will hold an AGM* on Sep. 25, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of VZAF starting Sep. 20, 2018.
  • Bank of Baghdad (BBOB) will hold an AGM* on Sep. 17, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BBOB starting Sep. 11, 2018.
  • Al -Hilal Industries (IHLI) will hold an AGM* on Sep. 9, 2018 to discuss and approve 2016 annual financial results. The company has been suspended from trading since Jul. 4, 2018 by an ISC decision.
  • Modern Chemical Industries (IMCI) will hold an AGM* on Aug. 31, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of IMCI starting Aug. 28, 2018.
  • Region Trade Bank for Investment and Finance (BTRB) will hold an AGM* on Aug. 29, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BTRB starting Aug. 20, 2018.
  • Iraqi Engineering Works (IIEW) will resume trading on Aug. 19, 2018 because the company fulfilled ISX request to disclose its 2017 annual financial results.
  • Al-Khair Finacial Inv. (VKHF) will hold an AGM* on Aug. 28 to discuss and approve 2015 and 2016 annual financial results and to elect five new original and alternative BoDs. The company has been suspended since Jul. 6, 2017 by an ISC decision.
  • Modern Sewing (IMOS) resumed trading on Aug. 13, 2018 after discussing and approving 2017 annual financial results and to distribute 15% cash dividend (IQD0.15 dividend per share, 3.2% dividend yield).
  • ISX announced that Trust International Islamic Bank (BTRU), having a capital of IQD250 bn paid-in capital, has completed the listing procedures. BTRU started trading in the non-regular market starting Aug. 12, 2018.
  • Cross Transactions: 18.7 bn shares of Al-Noor for Money Transfer Co. (MTNN) on Aug. 15, 2018, which represents 41.6% of MTNN capital.

Iraq Stock Market Market

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th Aug 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD743 (-1.0%) / $797 (-1.0%) (weekly change) (-8.4% and -4.6% YTD change, respectively). The number of week traded shares was 36.7bn and the weekly trading volume was IQD11.8bn ($9.7 mn).

ISX Company Announcements

  • National company for Tourism Investment (HNTI) will hold an AGM* on Sep. 2, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of HNTI starting Aug. 28, 2018.
  • ISX announced that Trust International Islamic Bank (BTRU), having a capital of IQD250bn paid-in capital, has completed the listing procedures. BTRU will start trading in the non-regular market starting Aug. 12, 2018. The opening price will be free for the first three sessions and then will have +/-20% price change limit.
  • Iraqi Land Transport Company (SILT) announced that the resumption of trucks’ transportation with Jordan will be resumed soon. Agreement was signed for the entry of the trucks of both countries. (Iraq Trade Link)
  • Al -Khazer for Construction Materials (IKHC) replied ISX request on Aug. 9, 2018 explaining their inability to provide 2017 annual financial reports due to the occupation of ISIS over the company. They also mentioned that the company’s production has stopped due to the damage of most of its equipment.
  • Ashur International Bank (BASH) resumed trading on Aug. 8, 2018 after discussing and approving 2017 annual financial results and to distribute 1% cash dividend (IQD0.01 dividend per share, 3.3% dividend yield).
  • Gulf Commercial Bank (BGUC) announced that the CBI approved the assignment of Adil Nuri Al-Alim as the new CEO of BGUC on Jul. 25, 2018.
  • The following companies were suspended from trading on Aug. 8, 2018 for not disclosing their 2017 annual financial results: AMAP, BBAY, BDFD, BDSI, BIME, BLAD, BNOR, BQAB, BROI, BUOI, HASH, HBAG, HBAY, HISH, HPAL, HTVM, IELI, IHFI, IHLI, IICM, IIEW, IKHC, IKLV, IMCM, IMIB, IMPI, INCP, ITLI, SBAG, SIGT, SILT, SMOF and VKHF.
  • International Islamic Bank (BINT) resumed trading on Aug. 6, after discussing and approving 2017 annual financial results and to distribute 1.54% cash dividend (IQD0.0154 dividend per share, 1.5% dividend yield).
  • Cross Transactions: 16 bn shares of Mosul Bank (BMFI) on Aug. 5, 2018, which represents 6.3% of BMFI capital. 13.5 bn shares of Al-Noor for Money Transfer Co. (MTNN) on Aug. 7, 2018, which represents 29.9% of MTNN capital. 255 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Aug. 8, 2018, which represents 0.1% of BCIH capital.

Iraq Stock Market Market

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 2nd Aug 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD751 (-5.1%) / $806 (-5.1%) (weekly change) (-7.4% and -3.6% YTD change, respectively). The number of week traded shares was 6.4 bn and the weekly trading volume was IQD5.5bn ($4.9 mn).

ISX Company Announcements

  • The CBI participated in the opening of the representative office of the International Development Bank (BIDB) in Dubai. The opening ceremony, attended by Iraqi and foreign economic and financial figures, underscored the need for the Iraqi private banks to play a role in the development of the Iraqi economy and the development of banking. (CBI)
  • The Governor of the CBI, Ali Mohsen Ismail, accompanied by a number of general managers, made a field visit to private banks for two days. This visit came within the series of visits by the Governor to find out the obstacles facing banks, and work to remove them. (CBI)
  • AL Arabiya Islamic Bank (BAAI) will hold an AGM* on Aug. 16, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BAAI starting Aug. 12, 2018.
  • Sumer Commercial Bank (BSUC) will hold an AGM* on Aug. 12, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BSUC starting Aug. 7, 2018.
  • Dar Al-Salam for Insurance (NDSA) will resume trading on Aug. 5, 2018 after discussing and approving 2017 annual financial results as well as disclosing its 3M18 financial results.
  • National Bank of Iraq (BNOI) resumed trading on Aug. 2, 2018 after discussing and approving 2017 annual financial results and distributing 8% cash dividend (IQD0.08 dividend per share, 19.5% dividend yield).
  • Original shares of AL-Sadeer Hotel (HSAD) resumed trading on Aug. 2, 2018 after discussing and approving 2014, 2015 and 2016 annual financial results and deciding to increase its capital from IQD1.239 bn to IQD1.735 bn through 40% rights issue.
  • Al-Mansour Pharmaceuticals Industries (IMAP) resumed trading on Jul. 30, 2018 after discussing and approving 2016 and 2017 annual financial results and deciding to distribute 6% cash dividend (IQD0.06 dividend per share, 8.7% dividend yield).
  • Iraqi for Tufted Carpets (IITC) resumed trading on Jul. 30, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 50% cash dividend (IQD0.50 dividend per share, 6.5% dividend yield).
  • Cross Transactions: 255 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Aug. 2, 2018, which represents 0.1% of BCIH capital.

 

Iraq Stock Market Jumps 15% in 1 Week

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 26th July 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD792 (+15.1%) / $849 (+15.1%) (weekly change) (-2.4% and -1.6% YTD change, respectively). The number of week traded shares was 28.6 bn and the weekly trading volume was IQD9.5bn ($7.9 mn).

ISX Company Announcements

  • Al-Hamraa for Insurance (NHAM) will hold an AGM* on Sept. 10, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of NHAM starting Sept. 5, 2018.
  • Modern Sewing (IMOS) will hold an AGM* on Aug. 8, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of IMOS starting Aug. 5, 2018.
  • Ashur International Bank for Investment (BASH) will hold an AGM* on Jul. 31, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BASH starting Jul. 26, 2018.
  • International Development Bank for Investment (BIDB) resumed trading on Jul. 25, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 5.2% cash dividend (IQD0.052 dividend per share, 6.0% dividend yield).
  • Al-Ameen for Insurance (NAME) resumed trading on Jul. 25, 2018 after discussing and approving 2017 annual financial results.
  • Iraq Noor Islamic Bank for Investment (BINI) resumed trading on Jul. 24, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 2.4% cash dividend (IQD0.024 dividend per share, 2.4% dividend yield).
  • AL-Sadeer Hotel (HSAD) will hold its AGM* on Jul. 29, 2018 to discuss and approve 2014, 2015 and 2016 annual financial results and increase the capital from IQD1.239 bn to IQD1.362 bn through 10% rights issue. ISX suspended trading of HSAD starting Jul. 24, 2018.
  • Kurdistan International Bank (BKUI) disclosed the current ownership percentages of Bahra Muhammed Yassin and Khan Adil Disco as 8.27% and 8.89%, respectively.
  • International Islamic Bank (BINT) postponed its AGM* from Jul. 24, 2018 to Jul. 31, 2018 due to the absence of some BoD members.
  • Al Janoob Islamic Bank for Investment and Finance (BJAB) started trading on Jul. 22, 2018 after 21 days of depositing the company’s shares. The company’s share price will be free only for the first three sessions.
  • Cross Transactions: 12 bn shares of Mosul Bank (BMFI) on Jul. 24, 2018, which represents 4.75% of BMFI capital. 510 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Jul. 22 and  Jul. 26, 2018, which represent 0.2% of BCIH capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th July 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD731 (-0.3%) / $784 (-0.3%) (weekly change) (-9.9% and -6.2% YTD change, respectively). The number of week traded shares was 4.9 bn and the weekly trading volume was IQD5.0bn ($4.2 mn).

ISX Company Announcements

  • The CBI signed a memorandum of understanding (MoU) with UnionPay International Company to contribute to the development of intelligent payment technologies and electronic payment services in Iraq. UnionPay is one of the largest companies in China and most Asian countries in this field, in addition to being the third largest international company to issue and collect cards. The CBI notes that this is the third memorandum signed by the bank in 2018 with international card companies as part of its plans to expand the use of high technology to promote card work and develop payment systems in accordance with international best practice. (CBI)
  • UK-based ONEm is partnering with Asiacell (TASC) to bring unlimited news and entertainment content from Reuters to Iraq. Asiacell subscribers can now exclusively access global news on any mobile device for 600 IQD per week. The Reuters service provides full coverage of real time news and entertainment content in Arabic delivered by SMS. (Iraq Business News)
  • Al_Rabita Al_Maliya Co (MTRA) will hold a joint GA with (Bilad Al-Sham for Money Transfer and Al-Shariq for Money Transfer) on Jul. 26, 2018 to discuss merging these three companies and deciding to change the company from a Money Transfer company into an Islamic Bank according to CBI’s approval.
  • Iraqi for Tufted Carpets (IITC) will hold an AGM* on Jul. 25, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of IITC starting Jul. 22, 2018.
  • National Bank of Iraq (BNOI) will hold an AGM* on Jul. 23, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BNOI starting Jul. 18, 2018.
  • International Development Bank for Investment (BIDB) will hold an AGM* on Jul. 18, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BIDB starting Jul. 15, 2018.
  • Iraqi Middle East Bank (BIME) completed their legal amendment of article (six) on Jul. 3, 2018 to decrease the number of BoDs from 7 members to 5 original members and other 5 alternative members.
  • Cross Transactions: 510 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Jul. 8 and Jul. 11, 2018, which represent 0.2% of BCIH capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th July 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD733 (-5.3%) / $786 (-5.3%) (weekly change) (-9.6% and -5.9% YTD change, respectively). The number of week traded shares was 5.9 bn and the weekly trading volume was IQD12.9bn ($10.6 mn).

ISX Company Announcements

  • The Financial Action Task Force (FATF) officially announced Iraq’s exit from the follow-up area, as the CBI and Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) have made significant progress in improving and addressing deficiencies and meeting all its obligations towards FATF recommendations. (CBI.iq)
  • The ISX moved trading of 16 companies from the regular market to the non-regular market starting Jul. 5, 2018 due to the following reasons: 1) Due to the decrease in annual trading volume: BROI, TZNI, VWIF, NAHF, 2) Due to not trading in 2017: BEFI, 3) Due to the decrease in all indicators: NDSA, VZAF, 4) Due to being under CBI custody: BDFD, BDSI, BLAD, 5) Due to not submitting the annual reports of 2014-16: BUOI, SIGT, IKHC, ITLI, IMPI, and IFCM.
  • Al-Sadeer Hotel (HSAD) will hold an AGM* on Jul. 29, 2018 to discuss and approve 2014 and 2016 annual financial results. ISX will suspend trading of HSAD starting Jul .24, 2018.
  • International Islamic Bank (BINT) will hold an AGM* on Jul. 24, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BINT starting Jul. 19, 2018.
  • Iraq Noor Islamic Bank for Investment (BINI) will hold an AGM* on Jul. 17, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BINI starting Jul. 12, 2018.
  • New shares of Al-Mosul for Funfair (SMOF) from the capital increase from IQD400mn to IQD800mn through 100% bonus issue resumed trading on Jul. 4, 2018.
  • The following companies were suspended from trading starting Jul. 4, 2018 for not disclosing their 1Q18 financial results: INCP, IHLI, NDSA, MTMA, HBAG, HISH, IICM, ITLI, IMPI, IEAB, SILT, SIGT, SBAG, VKHF, IKHC, IFCM, IMCM, and IHFI.
  • Mamoura Real-estate Investment (SMRI) and AL-Nukhba for General Construction (SNUC) resumed trading on Jul. 1, 2018 after discussing and approving 2017 annual financial results.
  • Cross Transactions: 864 mn shares of Asiacell (TASC) on Jul. 2, 2018, which represents 0.28% of TASC capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 14th June 2018).

Note: ISX will be closed starting from June 17, 2018 to June 19, 2018 due to the religious holiday of Eid Al-Fitr. The next trading session will be held on Wednesday (June 20, 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD803 (-0.5%) / $861 (-0.5%) (weekly change) (-1.1% and +3.0% YTD change, respectively). The number of week traded shares was 7.6 bn and the weekly trading volume was IQD4.2bn ($3.5 mn).

ISX Company Announcements

  • The Central Bank of Iraq decided to allow citizens to withdraw cash from the points of sale deployed at the agents of electronic payment companies and traders in the Iraqi market. (CBI)
  • Mosul Bank (BMFI) resumed trading on June 14, 2018 after discussing and approving 2016 annual financial results.
  • International Islamic Bank (BINT) resumed trading on June 10, 2018 after providing its 2016 annual and 6M17 financial results.