Louis Berger Group to Help Establish Erbil Stock Exchange

The Louis Berger Group has announced that it will help the Kurdistan Regional Government (KRG) to start up the Erbil Stock Exchange (ESX) in Iraq’s Kurdistan region, a joint endeavor of the Iraqi government and private sector to build a modern securities market.

The launch of the ESX initiative is yet another testimony of the commitment of the people of our region to not only showcase the positive developments in Kurdistan, but to also position the region as the gateway to Iraq and its growth-oriented companies,” said Abdullah A. Abdul Rahem (Abo Bangin), chairman of the ESX, at the recent contract signing ceremony.

Louis Berger will provide technical assistance toward the establishment of the ESX. Key tasks will include developing and implementing a business plan; recruiting and training exchange staff; and selecting and installing trading, clearance and settlement systems infrastructure. Louis Berger will work closely with the region’s senior ministers, including the prime minister’s office, as well as prominent community businesses, financial institutions, investors and other stakeholders.

This high-profile initiative is an example of the diversity of our company’s work. The project presents an opportunity to help reshape a region’s financial and economic system through developing modern financial market infrastructure that boosts development,” said Charles Bell (pictured), Louis Berger’s Integrated Development group vice president. “The ESX will open a new frontier of financing to growth-oriented companies, while generating new opportunities for investors to start or diversify their securities investments.

Work on the ESX will begin in April. Louis Berger’s technical team has worked on other stock exchanges and recently completed an effort to strengthen the Iraqi financial sector under the USAID-funded Tijara program, a five-year initiative to promote private sector growth and employment in Iraq.

(Source: Louis Berger)

2 Responses to Louis Berger Group to Help Establish Erbil Stock Exchange

  1. […] Another Related Article worth reading Louis Berger Group to Help Establish Erbil Stock Exchange http://www.iraq-businessnews.com/2013/04/02/louis-berger-group-to-help-establish-erbil-stock-exchang… Posted on 02 April 2013.  Charles-Bell-Louis-Berger-Group.gif The Louis Berger Group has […]

  2. Mike Allen June 6, 2013 at 12:33 pm #

    I cant understand why Louis Berger who has no experience and expertise in stock exchanges transactions , settlements and software would involve in this project . If JPM or Goldman Sachs , Morgan Stanley or other financial institutions are more good candidates for this projct . Shall we expect another scandel.

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