stock market


Stock Market Up 25% since End-October

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th Feb 2018).

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

The RSISX index ended the week at IQD951 (+2.7%) / $991 (+2.7%) (weekly change) (+17.2% and +18.6% YTD change, respectively). The number of week traded shares was 7.1bn and the weekly trading volume was IQD7.9bn ($6.3mn).

ISX Company Announcements

  • Al-Mosul for Funfairs (SMOF) will hold AGM* on Mar. 4, 2018 to discuss and approve 2013 annual financial results and increasing the capital from IQD400mn to IQD800mn through 100% bonus issue. ISX will suspend trading of SMOF starting Feb. 27, 2018.
  • Babylon Hotel (HBAY) will hold a GA on Mar. 1, 2018 to discuss the offer of deferred investment contract postponed from the previous AGM held on Nov. 19, 2017.  ISX will suspend trading of HBAY starting Feb. 26, 2018 and the company will resume trading on Mar. 4, 2018.
  • Mouta for Remittance (MTMO) will hold a GA on Feb. 26, 2018 to elect a new BoD. The company has been suspended since Jan. 21, 2018 because the company was converting from money transfer company into an Islamic bank.
  • Iraqi Agricultural Products and Marketing Meat (AIPM) will hold a GA on Feb. 20, 2018 to elect a new BoD. ISX suspended trading of AIPM starting Feb. 15, 2018 and the company will resume trading on Feb. 21, 2018.
  • Asiacell (TASC) will be suspended from trading on Feb. 18, 2018 if the company fails to explain why the prices touched the higher limit in the last two trading sessions (Feb. 14-15, 2018).
  • AL- Kindi of Veterinary Vaccines Drugs (IKLV) will hold AGM* on Feb. 18, 2018 to discuss and approve 2016 annual financial results. ISX suspended trading of IKLV starting Feb. 13, 2018.
  • Commercial Bank of Iraqi (BCOI) announced that it will start distributing 2.6% cash dividend (IQD0.026 dividend per share) from 2015 profit starting Feb. 18, 2018.
  • Ashur International Bank for Investment (BASH) resumed trading on Feb. 12, 2018 after discussing and approving 2016 annual financial results.

Iraqi Stock Market Continues to Climb

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th Feb 2018).

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

The RSISX index ended the week at IQD926 (+5.7%) / $966 (+5.9%) (weekly change) (+14.2% and +15.5% YTD change, respectively). The number of week traded shares was 11.3bn and the weekly trading volume was IQD8.6bn ($6.9mn).

ISX Company Announcements

  • According to the letter (dated Jan. 29, 2018) sent to Al-Rafidain Bank, Al-Rasheed Bank, and Trade Bank of Iraq (TBI) related with treasury bonds regulations and payments to contractors for 2018, Central Bank of Iraq (CBI) will pay the past due payments to contractors on behalf of the Ministry of Finance (MoF) after the completion of the auditing by the Federal Board of Supreme Audit. In the letter it was mentioned that the bond’s annual interest will be 5% with a maturity of three years. The Ministry of Planning will prepare the list of names and contractors and the amounts due to them and send it to the MoF. The role of the CBI is to deliver the bonds to the contractors according to the required payments. (CBI)
  • The Anti-Money Laundering (AML / CFT) Council announces the preparation and issuance of the National Strategy for Combating Money Laundering and the Financing of Terrorism for the years 2017-2020 according to the international requirements, which is the first strategy in Iraq in this regard. (CBI)
  • Regarding the request of ISC from Economy Bank for Investment (BEFI) on Dec. 14, 2017 to clarify unclear items in 2016 annual financial results since their earlier clarifications weren’t clear and financial statements do not represent the current financial position of the bank, ISC mentioned that the bank replied that these cases will be amended in 2017 annual financial results. ISC declared that the problems remain unsolved and the report is unclear and thus the BEFI will remain suspended from trading until these issues will be resolved.
  • According to Bada’a Al-Karada court decision on Aug. 28, 2017, ISX will auction starting March 6, 2018 North Bank (BNOR) shares amounted 4.8 bn owned by Omer Mohammed Ahmed Al-Jaff for payment of IQD2.3 bn debt to Al-Mansour Bank (BMNS).
  • Iraq Noor Islamic Bank for Investment (BINI) will hold a GA on Feb. 22, 2018 to elect a new BoD. ISX will suspend trading of BINI starting Feb. 19, 2018. BINI will resume trading on Feb.25, 2018.
  • Metallic & Bicycles Industries (IMIB) disclosed signing investment contracts with the Chinese Company for Motorcycles Production and the British Himalaya Enterprise.

Iraqi Stock Market Jumps 11%

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st Feb 2018).

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

The RSISX index ended the week at IQD876 (+10.8%) / $912 (+11.0%) (weekly change) (+8.0% and +9.1% YTD change, respectively). The number of week traded shares was 5.8bn and the weekly trading volume was IQD4.6bn ($3.7mn).

ISX Company Announcements

  • In accordance with the duties of the Central Bank of Iraq provided in its law, and in order to ensure the stability of the banking sector and increase confidence in it, “the contract of establishment of the bank deposit guarantee company was signed with the founding body”, which included government and private banks, (6 government banks, 22 commercial banks and 16 foreign banks, 44 banks in total). It is expected that this company will play a major role in protecting the banking sector, especially the deposits of the public (individuals and companies), which will enhance confidence in the banking sector inside Iraq and in the correspondents of banks outside Iraq, which will contribute to attracting more deposits and reuse them in credit and investment to serve the Iraq economy. The capital of the company is IQD100 bn, of which 30% is owned by the private banks, 25% is owned by the government and remaining 45% will be offered for public subscription. (CBI)
  • The Director of the Information Office of the Central Bank of Iraq (CBI), Acer Jabbar said that the CBI is keen to diversify its foreign reserves and diversify the basket of currencies in the investment portfolios as well as the geographical distribution of investments of the bank. According to that, the CBI signed an agreement with People’s Bank China which will contribute to the development of banking relations with global economies, especially with the Chinese economy. (CBI)
  • According to the CBI letter (dated back on Jan. 24, 2018) sent to all licensed banks and money transfer companies regarding letters of guarantee (LG), CBI BoD decided that the money transfer companies will decide on one of the following options for providing LG to the CBI without violating their license: 1) Providing the CBI an LG of 50% of their capital issued by one of CBI’s licensed banks. 2) Depositing IQD100 mn in the margin accounts of the CBI by depositing it in one of CBI’s licensed banks instead of providing an LG as mentioned in the first article. (CBI)
  • AL- Kindi of Veterinary Vaccines Drugs (IKLV) will hold AGM* on Feb. 18, 2018 to discuss and approve 2016 annual financial results. ISX will suspend trading of IKLV starting Feb. 13, 2018.
  • North Bank (BNOR) will resume trading on Feb. 4, 2018 after fulfilling ISC disclosure requirement and publishing 2016 annual financial results. The opening price will be IQD0.20 with +/-50% change for the first trading session.
  • Sumer Commercial Bank (BSUC) will resume trading on Feb. 4, 2018 after discussing and approving 2016 annual financial results.
  • The ISC approved on Jan. 23, 2018 trading of Trans Iraq Bank for Investment (BTRI) in the regular market instead of the non-regular market starting Jan. 28, 2018.

Market Review: A Tale of Two Halves & Liquidity

By Ahmed Tabaqchali (pictured), CIO of Asia Frontier Capital (AFC) Iraq Fund.

Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

The market in January was a tale of two halves. The first half started with a whimper with turnover declining 40% from December’s levels and prices drifting lower taking the market, as measured by the RSISUS Index, to a decline of over -4% by around mid-month.

The second half was almost the opposite with prices recovering steadily and turnover doubling from the that of the first half. The market ended the month +4.8%.

However, the average daily turnover for the full month was anaemic at 90% of the average of that of the last 12 months, itself a low figure to start with.

Which argues that the recovery is in the early tentative stages, but supports the case that the correction that began in March of last year has run its course by October, and that the market could play catch up as discussed in the outlook for 2018.

Please click here to download Ahmed Tabaqchali’s full report.

Mr Tabaqchali (@AMTabaqchali) is the CIO of the AFC Iraq Fund, and is an experienced capital markets professional with over 25 years’ experience in US and MENA markets. He is a non-resident Fellow at the Institute of Regional and International Studies (IRIS) at the American University of Iraq-Sulaimani (AUIS). He is a board member of the Credit Bank of Iraq.

His comments, opinions and analyses are personal views and are intended to be for informational purposes and general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any fund or security or to adopt any investment strategy. It does not constitute legal or tax or investment advice. The information provided in this material is compiled from sources that are believed to be reliable, but no guarantee is made of its correctness, is rendered as at publication date and may change without notice and it is not intended as a complete analysis of every material fact regarding Iraq, the region, market or investment.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th Jan 2018).

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

The RSISX index ended the week at IQD791 (+0.7%) / $822 (+1.5%) (weekly change) (-2.5% and -1.7% YTD change, respectively). The number of week traded shares was 7.6bn and the weekly trading volume was IQD10.9bn ($8.7mn).

ISX Company Announcements

  • In reference to ISX letter on Dec. 25, 2017 and the Iraqi Depository Center (IDC) letter on Jan. 18, 2018, no bonds were deposited from the first issue of national bonds in the IDC starting from the depositing date of Jan. 2, 2018 till Jan. 22, 2018. It was mentioned in the announcement that the discount price will be fixed based on the coupon rate every trading day according to the scheduled coupon dates provided by the CBI for each category that have different face values. The change in price limit will be +/- 5% for each session from 10:00 am to 12:00 pm.
  • The Governor of the Central Bank of Iraq (CBI), Mr. Ali Mohsen Ismail visited with a delegation of advanced leaders the branch of the CBI in Basra province. The delegation was keen to meet the staff of the branch and discuss the most important organizational matters in the work of the branch. (CBI)
  • International Development Bank for Investment (BIDB) will hold GA on Feb. 25, 2018 to elect a new BoD. ISX will suspend trading of BIDB starting Feb. 21, 2018. BIDB will resume trading on Feb. 26, 2018.
  • Iraqi Agricultural Products and Marketing Meat (AIPM) will hold a GA on Feb. 20, 2018 to elect a new BoD. ISX will suspend trading of AIPM starting Feb. 15, 2018. AIPM will resume trading on Feb. 21, 2018.
  • The ISC approved trading of Trans Iraq Bank for Investment (BTRI) in the regular market instead of the non-regular market starting Jan. 28, 2018.
  • According to the announcement made by the ISX on Jan. 23, 2018; the general commission for taxes issued an order on Oct. 15, 2017 to block all the current assets of Electronic Industries (IELI) because the company didn’t pay IQD1, 475,127K worth of taxes.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th Jan 2018).

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

The RSISX index ended the week at IQD786 (-0.6%) / $809 (-0.6%) (weekly change) (-3.1% and -3.1% YTD change, respectively). The number of week traded shares was 4.2bn and the weekly trading volume was IQD3.9bn ($3.1mn).

ISX Company Announcements

  • The Director of the Information Office of the CBI, Acer Jabbar said on Sunday in a statement that “We would like to point out that the first national bonds/issuances are tradable in the Iraqi market for securities as of January 2018, which was launched on March 15, 2016.” “The discount for these bonds is 8% which is payable on March 14, 2018,” Jabbar said. (CBI, Economic Iraq)
  • Zain Al-Iraq Islamic Bank for Investment (BZII) will hold AGM* on Feb. 2, 2018 to discuss and approve 2016 annual financial results. ISX will suspend trading of BZII starting Jan. 30, 2018.
  • Mouta for Remittance (MTMO) disclosed that it completed the procedure and received the approval of the CBI and companies’ registrar to convert into Ameen Al-Iraq Islamic Bank for investment in December of 2017, and approved increasing the capital from IQD45bn to IQD100bn. ISX will suspend trading of MTMO starting Jan. 21, 2018 until Ameen Al-Iraq bank applies for a listing request.
  • Iraqi Middle East Investment Bank (BIME) resumed trading on Jan. 17, 2017 after discussing and approving 2016 annual financial results and deciding to distribute 0.5% cash dividend (IQD0.005 dividend per share, 1.4% dividend yield).
  • AL Arabiya Islamic Bank (BAAI) resumed trading on Jan. 15, 2018 after discussing and approving 2016 annual financial results.
  • Al-Kindi of Veterinary Drugs (IKLV) resumed trading on Jan. 14, 2018 after fulfilling ISC disclosure requirements and publishing 2016 annual financial results.
  • Iraqi Agricultural Products Marketing Meat (AIPM) announced that it started to distribute 5% cash dividend (IQD0.05 dividend per share) from 2016 profit starting Jan. 10, 2018.
  • International Islamic Bank (BINT) requested Iraqi Securities Commission (ISC) to keep the bank’s shares suspended from trading until the end of the legal subscription period. Subscription on 150bn shares was extended 60 days starting on Jan. 2, 2018 to increase the capital from IQD100bn to IQD250bn through 150% rights issue.
  • Cross Transactions: 1.7bn shares of Al-Qabedh Islamic Bank for Finance & Investment (BQAB) on Jan. 14, 2018, which represents 0.7% of BQAB capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th Jan 2018).

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

The RSISX index ended the week at IQD802 (-1.1%) / $826 (-1.1%) (weekly change). The number of week traded shares was 1.4bn and the weekly trading volume was IQD1.2bn ($1.0mn).

ISX Company Announcements

  • The Central Bank of Iraq (CBI) issued a new condition on the brokerage companies to sell and buy foreign currencies to continue to enter the currency sale window. The bank said in a statement that it was decided to deposit IQD100mn in the insurance account with the CBI instead of letters of guarantee. The bank added that “the last period to complete the deposit is on 31 January. The bank has set new conditions and instructions on banks and brokerage companies to enter the currency sale window to prevent corruption and trading in hard currency. (CBI, Economic Iraq)
  • The bonds will be traded in the ISX according to the government’s bonds instructions as of January 2018. Depositing the bonds started on Jan. 2, 2018 in the Iraqi Depository Center.
  • Al-Ahlyia for Agricultural Production (AAHP) will hold AGM* on Jan. 25, 2018 to discuss and approve the financial results of the year ending Mar. 31, 2017. ISX will suspend trading of AAHP starting Jan. 21, 2018.
  • Al-Ameen Estate Investment (SAEI) will hold AGM* on Jan. 17, 2018 to discuss and approve 2016 annual financial results. ISX will suspend trading of SAEI starting Jan. 14, 2018.
  • Al -Khazer for Construction Materials (IKHC) will hold AGM* on Jan. 15, 2018 to discuss and approve 2016 annual financial results.
  • Kurdistan International Bank (BKUI) completed the procedures and received the approval of the Companies’ Registrar on Dec. 24, 2017 of changing the company name into Kurdistan Islamic International Bank for Investment and Development.
  • New shares of Al-Ameen Insurance (NAME) from the capital increase to IQD3.81bn through 12% bonus issue were deposited into the shareholders’ accounts. (Source: IDC)
  • Subscription on 150bn International Islamic Bank (BINT) shares was extended 60 days starting Jan. 2, 2018 to increase the capital from IQD100bn to IQD250bn through 150% rights issue.
  • The subscription for the shares of Rabee Securities was closed as of Dec. 25, 2017.

Iraqi Stock Market: Review of 2017 & Outlook for 2018

By Ahmed Tabaqchali (pictured), CIO of Asia Frontier Capital (AFC) Iraq Fund.

Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

The market continued to build on the November recovery, up +3.0% for the month, with locals picking up the buying interest from foreigners, whose recovery in buying activity in November was mostly a re-investment of dividends and partly fresh inflow.

For the first time in a number of years, the new year outlook for Iraq is brighter with improving fundamentals after a number of extremely difficult years.

Please click here to download Ahmed Tabaqchali’s full report.

Mr Tabaqchali (@AMTabaqchali) is the CIO of the AFC Iraq Fund, and is an experienced capital markets professional with over 25 years’ experience in US and MENA markets.

His comments, opinions and analyses are personal views and are intended to be for informational purposes and general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any fund or security or to adopt any investment strategy. It does not constitute legal or tax or investment advice. The information provided in this material is compiled from sources that are believed to be reliable, but no guarantee is made of its correctness, is rendered as at publication date and may change without notice and it is not intended as a complete analysis of every material fact regarding Iraq, the region, market or investment.

Iraq Stock Market ends Year Down 15%

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Rabee Securities Iraq Stock Exchange (ISX) market report:

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

The RSISX index ended last week at IQD811 (+0.2%) / $836 (+0.2%) (weekly change) (-15.5% and -11.8% YTD change, respectively). The number of week traded shares was 17.0bn and the weekly trading volume was IQD11.9bn ($9.4mn).

ISX Company Announcements

  • Iraq Stock Exchange (ISX) announced the conclusion of 2017 trading sessions with its last trading session on Monday (Dec. 25, 2017). 239 trading sessions were held in 2017 (five sessions per week). The total number of traded shares realized at 1.215trln, up by 17% y/y and the total trading volume realized at IQD900bn, up by 74% y/y. There are 101 listed companies. 2017 annual report will be published during January of 2018.
  • Iraqi Depository Center (IDC) sent a letter to brokerage firms (dated on Dec. 24, 2017) related with depositing the first issued national bonds. IDC mentioned that the required procedures to begin depositing the first issued national bonds in the IDC were completed and the bond holders can deposit their bonds in the IDC starting Jan. 2, 2018. ISX sent a letter to brokerage firms (dated on Dec. 25, 2017) related with the ISX tickers of first issued national bonds for trading. In the ISX letter, it was mentioned that considering the ISC approval of the board of governors’ decision to list, deposit and trade the first issued national bonds, to organize the listed bonds file on the Back Office system in the brokerage firms, the following information was provided for each category: “Category: IQD100K (volume of issue: IQD176.7bn, ISX ticker: CBI100), Category: IQD250K (vol. of issue: IQD147.1bn, ISX ticker: CBI250), Category: IQD500K (vol. of issue: IQD148.2bn, ISX ticker: CBI500), Category: IQD1.0mn (vol. of issue: IQD90.4bn, ISX ticker: CBI1000) and Category: IQD5.0mn (vol. of issue: IQD166.8bn, ISX ticker: CBI5000). ISX stated that the bonds will start trading according to the government bonds trading instructions starting January of 2018. Depositing will start on Jan. 2, 2018 in the IDC.
  • The Central Bank of Iraq (CBI) issued a resolution on Dec. 19, 2017 about establishing committee to study the cases of all money transfer companies which applied to reform to banks and those two companies which not applied yet. Suspended the establishment procedures for the 21 banks that are still undergoing establishment procedures and not receive the final approval yet, and authorizing them to merge every seven banks in one regular bank, or cancel their application. The committee will review the applications for the Islamic Banks which fulfill the requirements and got the initial approval. The CBI will not consider requests for the establishment of new Islamic banks according to the resolution. (Alsumaria)
  • Asiacell (TASC) will hold a GA on Jan. 13, 2018 to elect new BoD composed of 9 members and their alternatives. ISX will suspend trading of TASC starting Jan. 8, 2018. The company will resume trading on Jan. 14, 2018.
  • Iraqi Middle East Investment Bank (BIME) will hold AGM* on Jan. 9, 2018 to discuss and approve 2016 annual financial results. ISX will suspend trading of BIME starting Jan. 4, 2018.
  • Al-Mosul for Funfair (SMOF) will resume trading on Jan. 3, 2018 because of fulfilling ISC request to disclose major events during the period of ISIS occupation. The company provided necessary details to ISC and declared that it has resumed its normal operations as it was before ISIS occupation starting Aug. 20, 2017.
  • Iraq Noor Islamic Bank for Investment (BINI) will resume trading on Jan. 2, 2018 after discussing and approving 2016 annual financial results.
  • ISX and ISC requested Al-Mansour Pharmaceuticals Industries (IMAP) to explain why the Companies’ Registrar did not approve the decisions taken in the AGM that was held on Oct. 30, 2017.
  • Kharkh Tour Amusement City (SKTA) will resume trading on Jan. 2, after discussing and approving 2016 annual financial results.
  • Bain Alnahrain Investment (VMES) held AGM* on Dec. 28, 2017 to discuss and approve 2016 annual financial results. ISX suspended trading of VMES starting Dec. 25, 2017.
  • According to the letter sent by the General Commission for Taxes of the Ministry of Finance (MoF) to a group of banks it was requested from these banks to freeze the current assets of Economy Bank (BEFI) and Warka Bank because of not paying the following amounts to the commission (excluding interest); BEFI didn’t pay IQD1,921,138,972 and Warka Bank didn’t pay IQD6,786,150,000.
  • Cross Transactions: 10.7bn shares of International Development Bank (BIDB) on Dec. 25, 2017, which represents 4.3% of BIDB capital.

Iraq Stock Market ends Year Down 15%

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report:

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

The RSISX index ended last week at IQD811 (+0.2%) / $836 (+0.2%) (weekly change) (-15.5% and -11.8% YTD change, respectively). The number of week traded shares was 17.0bn and the weekly trading volume was IQD11.9bn ($9.4mn).

ISX Company Announcements

  • Iraq Stock Exchange (ISX) announced the conclusion of 2017 trading sessions with its last trading session on Monday (Dec. 25, 2017). 239 trading sessions were held in 2017 (five sessions per week). The total number of traded shares realized at 1.215trln, up by 17% y/y and the total trading volume realized at IQD900bn, up by 74% y/y. There are 101 listed companies. 2017 annual report will be published during January of 2018.
  • Iraqi Depository Center (IDC) sent a letter to brokerage firms (dated on Dec. 24, 2017) related with depositing the first issued national bonds. IDC mentioned that the required procedures to begin depositing the first issued national bonds in the IDC were completed and the bond holders can deposit their bonds in the IDC starting Jan. 2, 2018. ISX sent a letter to brokerage firms (dated on Dec. 25, 2017) related with the ISX tickers of first issued national bonds for trading. In the ISX letter, it was mentioned that considering the ISC approval of the board of governors’ decision to list, deposit and trade the first issued national bonds, to organize the listed bonds file on the Back Office system in the brokerage firms, the following information was provided for each category: “Category: IQD100K (volume of issue: IQD176.7bn, ISX ticker: CBI100), Category: IQD250K (vol. of issue: IQD147.1bn, ISX ticker: CBI250), Category: IQD500K (vol. of issue: IQD148.2bn, ISX ticker: CBI500), Category: IQD1.0mn (vol. of issue: IQD90.4bn, ISX ticker: CBI1000) and Category: IQD5.0mn (vol. of issue: IQD166.8bn, ISX ticker: CBI5000). ISX stated that the bonds will start trading according to the government bonds trading instructions starting January of 2018. Depositing will start on Jan. 2, 2018 in the IDC.
  • The Central Bank of Iraq (CBI) issued a resolution on Dec. 19, 2017 about establishing committee to study the cases of all money transfer companies which applied to reform to banks and those two companies which not applied yet. Suspended the establishment procedures for the 21 banks that are still undergoing establishment procedures and not receive the final approval yet, and authorizing them to merge every seven banks in one regular bank, or cancel their application. The committee will review the applications for the Islamic Banks which fulfill the requirements and got the initial approval. The CBI will not consider requests for the establishment of new Islamic banks according to the resolution. (Alsumaria)
  • Asiacell (TASC) will hold a GA on Jan. 13, 2018 to elect new BoD composed of 9 members and their alternatives. ISX will suspend trading of TASC starting Jan. 8, 2018. The company will resume trading on Jan. 14, 2018.
  • Iraqi Middle East Investment Bank (BIME) will hold AGM* on Jan. 9, 2018 to discuss and approve 2016 annual financial results. ISX will suspend trading of BIME starting Jan. 4, 2018.
  • Al-Mosul for Funfair (SMOF) will resume trading on Jan. 3, 2018 because of fulfilling ISC request to disclose major events during the period of ISIS occupation. The company provided necessary details to ISC and declared that it has resumed its normal operations as it was before ISIS occupation starting Aug. 20, 2017.
  • Iraq Noor Islamic Bank for Investment (BINI) will resume trading on Jan. 2, 2018 after discussing and approving 2016 annual financial results.
  • ISX and ISC requested Al-Mansour Pharmaceuticals Industries (IMAP) to explain why the Companies’ Registrar did not approve the decisions taken in the AGM that was held on Oct. 30, 2017.
  • Kharkh Tour Amusement City (SKTA) will resume trading on Jan. 2, after discussing and approving 2016 annual financial results.
  • Bain Alnahrain Investment (VMES) held AGM* on Dec. 28, 2017 to discuss and approve 2016 annual financial results. ISX suspended trading of VMES starting Dec. 25, 2017.
  • According to the letter sent by the General Commission for Taxes of the Ministry of Finance (MoF) to a group of banks it was requested from these banks to freeze the current assets of Economy Bank (BEFI) and Warka Bank because of not paying the following amounts to the commission (excluding interest); BEFI didn’t pay IQD1,921,138,972 and Warka Bank didn’t pay IQD6,786,150,000.
  • Cross Transactions: 10.7bn shares of International Development Bank (BIDB) on Dec. 25, 2017, which represents 4.3% of BIDB capital.