Tag Archives | ISX Iraq Stock Exchange News

The latest ISX Iraq Stock Exchange news including Banks, Capital, ISX Investment and more.

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Why Two Exchange Rates?

By Mark DeWeaver. Since the Central Bank of Iraq (CBI) began changing the rules for its USD auctions in 2012, Iraq has been operating a de facto dual exchange rate system. (There’s a summary of some of the CBI’s recent rule changes on pages 12-14 of this report from Sansar Capital.) For those with access […]

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Does ‘Mental Accounting’ Matter?

By Mark DeWeaver. ISX observers sometimes blame share price declines on people selling their recently listed bonus or rights issue shares. Such behavior would be interesting to document because it seems to imply a departure from perfect rationality. From the point of view of conventional finance theory, there just isn’t any reason to differentiate between […]

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In State Banks We Trust

By Mark DeWeaver. 2013 was another strong year for deposit growth at the ISX-listed banks. Deposits at the 19 names that have so far reported year-end financials were up 17% year-on-year as of December 31. (Only BDFD and BELF, which together accounted for 8% of 2012 listed-bank deposits, have yet to report.) While their deposit […]

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Stock Exchange Upgrades to NASDAQ Technology

The NASDAQ OMX Group has entered an agreement with the Iraq Stock Exchange (ISX) to upgrade its current trading platform. Under the terms of the agreement, ISX will replace its existing NASDAQ OMX platform (Horizon) with one powered by the renowned X-stream technology. The upgrade is expected to be rolled out by mid-year 2014. “We […]

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Capital Increase Déjà Vu

By Mark DeWeaver. A year ago I wrote a post called “Will the Banks Get More Time,” in which I argued that most of the ISX-listed banks weren’t going to make the central bank’s deadline of June 30, 2012 to reach IQD 150 bn in paid-up capital. I posted pretty much the same thing back […]

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ISX Clarifies Custody Situation

By Mark DeWeaver. On March 3, the ISX posted the following notification on its website: “No institution or competent body has requested a license to act as custodian pursuant to Decree No. 17 of 2012. “Therefore, the Depository Centre remains the sole body conducting the transfer of securities from the account of the investor [registered] […]

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NBK Makes Custody Breakthrough

By Mark DeWeaver. In a move that is likely to mark the start of a new era for the Iraq Stock Exchange (ISX), National Bank of Kuwait (NBK) has begun offering custody support services for ISX-listed shares through its 80%-held subsidiary Credit Bank of Iraq. This is arguably the most important step forward for the […]

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