Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th October 2019).

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

The RSISX index ended the week at IQD649 (+0.4%) / $698 (+0.4%) (weekly change) (-1.5% and -1.7% YTD change, respectively). The number of week traded shares was 5.0 bn and the weekly trading volume was IQD3.8 bn ($3.1 mn).

ISX Company Announcements

  • The International Finance Corporation (IFC) has adopted the “Guide to Corporate Governance for Iraqi Banks” issued by the CBI. It is noteworthy that the corporate governance of banks aims to determine the nature of the relationship between the BoDs of the bank and the executive management in order to protect the funds of depositors, shareholders and stakeholders and ensures disclosure and transparency. (CBI)
  • ISX will suspend trading of Modern Sewing (IMOS) starting Nov. 5, 2019 due to the AGM that will be held on Nov. 10, 2019 to discuss and approve 2018 annual financial statements.
  • ISX will suspend trading of Al-Ameen Estate Investment (SAEI) starting Oct. 24, 2019 due to the AGM that will be held on Oct. 29, 2019 to discuss and approve 2018 annual financial statements.
  • ISX will suspend trading of Gulf Insurance and Reinsurance (NGIR) starting Oct. 23, 2019 due to the AGM that will be held on Oct. 28, 2019 to discuss and approve 2018 annual financial statement and increasing the capital from IQD2.0 bn to IQD7.0 bn through 250% rights issue.
  • National Islamic Bank (BNAI) will resume trading on Oct. 20, 2019 due to disclosing its 2018 annual financial statement.
  • Commercial Bank of Iraq (BCOI) resumed trading on Oct. 15, 2019 after discussing and approving 2018 annual financial statements and deciding to distribute 3.8% cash dividend (IQD0.038 dividend per share, 7.9% dividend yield).
  • Cihan Bank for Islamic & Finance (BCIH) resumed trading on Oct. 15, 2019 after discussing and approving 2018 annual financial statements and deciding to distribute 1.57% cash dividend (IQD0.0157 dividend per share, 0.6% dividend yield).
  • Al-Qurtas Islamic Bank (BQUR) resumed trading on Oct. 15, 2019 after discussing and approving 2018 annual financial statements and deciding to distribute 0.4% cash dividend (IQD0.004 dividend per share).
  • Erbil Bank for Investment and Finance (BERI) resumed trading on Oct. 15, 2019 after discussing and approving 2018 annual financial statements.
  • Mosul Bank for Development& Investment (BMFI) resumed trading on Oct. 14, 2019 after discussing and approving 2018 annual financial statements.
  • Iraqi Middle East Investment Bank (BIME) resumed trading on Oct. 13, 2019 due to disclosing its 2018 annual financial statements.
  • Al-Ataa Islamic Bank (BLAD) resumed trading on Oct. 13, 2019 due to disclosing its 2018 annual financial statements.
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