The Erbil Stock Market will start trading during the first quarter of 2011, the project’s executive director said on Tuesday, explaining that the market startup capital will be around $10 million.
“This market should become the strategic axis that will transform the economy of Kurdistan from relying on oil revenues to producing income through local and foreign investments,” Dr. Nabil al-Ithari told Aswat al-Iraq news agency.
It was widely reported back in July that the exchange had announced that it had "opened for business", but it appears this was a something of an exaggeration.
(Source: Aswat al-Iraq)
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