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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 21st November 2024).

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

* Including OTC market

** Selling price of the dollar by banks and non-bank financial institutions to the final beneficiary

*** Selling price of the dollar by the CBI to the banks

(1) Excluding OTC market

Iraq Stock Exchange

• The Arab Monetary Fund (AMF)'s quarterly bulletin for the third quarter of 2024 reported that Arab financial markets achieved remarkable growth in trading volumes, with the total increasing by 47.46% to reach 328.92 bn shares where ISX topped this growth, outperforming other markets. The head of the Iraqi Securities Commission (ISC), Faisal Al-Haimus, praised this achievement, saying: "This exceptional growth in trading volumes reflects the development of the ISX as an attractive investment destination." (ISC)
• Two cross transactions occurred on 68.6 bn shares of Iraqi Middle East Investment Bank (BIME) on Nov. 17 and Nov. 19, valued at IQD5.5 bn and corresponding to 27.5% of BIME's capital.
• A cross transaction occurred on 1.7 bn shares of Al Masherq Al-Arabi Islamic Bank (BAMS) on Nov. 18 valued at IQD1.6 bn and corresponding to 0.7% of BAMS's capital.
• Al Mal Islamic Investment Bank (BMAL) started trading in the Non-Regular Market (NRM) on Nov. 17. The opening price will be free for the first three sessions.
• ISX will suspend trading of the second issuance of Emaar bonds starting on Nov. 24, 2024, due to the maturity of their semi-annual interest.
• ISX requested Babil Animal & Vegetable Production (ABAP) to explain why the prices touched the higher limit on Nov. 17 and Nov. 19.

Stocks that resumed / will resume trading:

• New shares of Commercial Islamic Bank of Iraq (BCOI) from the capital increase through a 17% bonus issue to IQD292.5 bn resumed trading on Nov. 17.
• National Islamic Bank (BNAI) resumed trading on Nov. 17 after holding its AGM on Nov. 9 in which they discussed and approved electing seven original and seven alternative board members.
• Original shares of Cihan Bank (BCIH) resumed trading on Nov. 19 after holding its AGM on Nov. 15 in which they discussed and approved 2023 annual financial statements and increasing the paid-in capital from IQD355.0 bn to IQD400.0 bn through a 6.8% rights issue and a 5.9% bonus issue.
• Baghdad Hotel (HBAG) will resume trading on Nov. 24 after holding its AGM on Nov. 18 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD0.5 cash dividend per share, corresponding to a 4.0% dividend yield. The opening price will be IQD12.050 per share.
• Original shares of Al-Mosul for Funfairs (SMOF) will resume trading on Nov. 24 after holding its AGM on Nov. 16 in which they discussed and approved 2023 annual financial statements, increasing the paid-in capital from IQD1.650 bn to IQD1.815 bn through a 10.0% bonus issue, and electing four original and four alternative board members. The opening price will be IQD7.910 per share with a +/-50% price change limit.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Ibdaa Al-Sharq Al-Awsat General Contract (SIBD) starting Nov. 17 due to the AGM that will be held on Nov. 20 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX suspended trading of AL-Nukhba for General Construction (SNUC) starting Nov. 17 due to the AGM that will be held on Nov. 24 to discuss and approve 2023 annual financial statements and electing new board members.
• ISX suspended trading of Al-Ahlyia for Agricultural Production (AAHP) starting Nov. 18 due to the AGM that will be held on Nov. 25 to discuss and approve the ending year Mar. 31, 2024 financial statements.
• ISX suspended trading of Asia Al Iraq Islamic Bank (BAIB) starting Nov. 19 due to the AGM that will be held on Nov. 26 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Middle East Producing & Marketing - Fish (AMEF) starting Dec. 4 due to the AGM that will be held on Dec. 9 to discuss and approve the ending Mar. 31, 2024, annual financial statements.
• ISX will suspend trading of International Islamic Bank (BINT) starting Dec. 8 due to the AGM that will be held on Dec. 12 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Ashour Hotel (HASH) starting Dec. 17 due to the AGM that will be held on Dec. 20 to discuss and approve 2023 annual financial statements and electing five original and five alternative board members.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 14th Nov 2024).

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

* Including OTC market

** Selling price of the dollar by banks and non-bank financial institutions to the final beneficiary

*** Selling price of the dollar by the CBI to the banks

(1) Excluding OTC market

Iraq Stock Exchange

• ISX announced that on Nov. 12, 2024, the deposit operations for the second issuance of Enjaz bonds began in the deposit center. The bonds will be launched for trading starting Dec. 3, 2024, on the bond platform. The price change will be 5% according to the table received from the CBI. The bonds will trade from 10:00 am till 12:00 pm.
• A cross transaction occurred on 7.3 bn shares of Iraq Noor Islamic Bank (BINI) on Nov. 11, valued at IQD3.3 bn and corresponding to 2.9% of BINI's capital.
• A cross transaction occurred on 49.5 bn shares of Iraqi Middle East Investment Bank (BIME) on Nov. 13, valued at IQD3.5 bn and corresponding to 19.8% of BIME's capital.
• Asiacell (TASC) invited its shareholders to receive their cash dividends for the fiscal year 2023, starting Nov. 10. The company decided in its recent AGM (Oct. 19) to distribute IQD1.0 cash dividend per share, corresponding to an 8.8% dividend yield. The branches of the National Bank of Iraq (BNOI) mentioned in the announcement will be ready to distribute dividends during official working hours.
• Commercial Islamic Bank of Iraq (BCOI) has completed the legal procedures for the capital increase through a 17% bonus issue to IQD292.5 bn.
• Ishtar Gate For e-Payment Systems and Services (FISH) started trading in the OTC on Nov. 11.
• Al Mal Islamic Investment Bank (BMAL) will start trading in the Non-Regular Market (NRM) on Nov. 17. The opening price will be free for the first three sessions.
• The ISC has approved the request of Ahliya for Insurance (NAHF) to have a four-month extension period to add the new shares from the capital increase through a 114.3% rights issue to IQD15.0 bn starting from Nov. 2, 2024.
• AL- Kindi of Veterinary Vaccines Drugs (IKLV) fulfilled ISX's request to explain why the prices touched the higher limit on Nov. 4 and Nov. 5. The company disclosed that there were no fundamental events or new matters that affected the price of the shares other than the election of new board members.

Stocks that resumed / will resume trading:

• Original shares of Al Taif Islamic Bank (BTIB) resumed trading on Nov. 14 after holding its AGM on Nov. 12 in which they discussed and approved increasing the paid-in capital from IQD250.0 bn to IQD300.0 bn through a 20% rights issue.
• New shares of Commercial Islamic Bank of Iraq (BCOI) from the capital increase through a 17% bonus issue to IQD292.5 bn will resume trading on Nov. 17.
• National Islamic Bank (BNAI) will resume trading on Nov. 17 after holding its AGM on Nov. 9 in which they discussed and approved electing seven original and seven alternative board members.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Cihan Bank (BCIH) starting Nov. 12 due to the AGM that will be held on Nov. 15 to discuss and approve 2023 annual financial statements and increasing the paid-in capital from IQD355.0 bn to IQD400.0 bn through a 6.8% rights issue and a 5.9% bonus issue.
• ISX suspended trading of Al Janoob Islamic Bank (BJAB) starting Nov. 12 due to the AGM that will be held on Nov. 16 to discuss and approve electing new board members.
• ISX suspended trading of Al-Mosul for Funfairs (SMOF) starting Nov. 12 due to the AGM that will be held on Nov. 16 to discuss and approve 2023 annual financial statements, dividend distribution, and electing four original and four alternative board members.
• ISX suspended trading of Baghdad Hotel (HBAG) starting Nov. 13 due to the AGM that will be held on Nov. 18 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Al Ansari Islamic Bank (BANS) starting Jan. 5, 2025 due to the AGM that will be held on Jan. 9, 2025 to discuss and approve 2023 annual financial statements.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 7th November 2024).

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

* Including OTC market

** Selling price of the dollar by banks and non-bank financial institutions to the final beneficiary

*** Selling price of the dollar by the CBI to the banks

(1) Excluding OTC market

Iraq Stock Exchange

• A cross transaction occurred on 10.4 bn shares of Trans Iraq Bank (BTRI) on Nov. 6, valued at IQD5.1 bn and corresponding to 3.9% of BTRI's capital.
• A cross transaction occurred on 1.4 bn shares of Al Masherq Al-Arabi Islamic Bank (BAMS) on Nov. 7 valued at IQD1.3 bn and corresponding to 0.6% of BAMS's capital.
• Asiacell (TASC) invited its shareholders to receive their cash dividends for the fiscal year 2023, starting Nov. 10. The company decided in its recent AGM (Oct. 19) to distribute IQD1.0 cash dividend per share, corresponding to an 8.8% dividend yield. The branches of the National Bank of Iraq (BNOI) mentioned in the announcement will be ready to distribute dividends during official working hours.
• Under the auspices of the Securities Commission, the Chairman of the Commission, Faisal Al-Haimus, announced that the implementation of the strategic agreement between the Iraq Stock Exchange and the Iraq Technology Company represents an important step towards achieving digital transformation in the Iraqi securities sector, in line with the directives of the General Secretariat of the Council of Ministers. Al-Haimus stressed that "the new system will contribute significantly to enhancing the efficiency of operations and simplifying procedures within the market, which will lead to improving the speed and accuracy of financial transactions, as well as increasing levels of transparency and credibility." (ISC)
• Modern Sewing (IMOS) invited its shareholders to receive their cash dividends for the fiscal year 2023, starting Nov. 5. The company decided in its recent AGM (Sep. 24) to distribute IQD0.25 cash dividend per share, corresponding to a 2.8% dividend yield.
• ISX requested AL- Kindi of Veterinary Vaccines Drugs (IKLV) to explain why the prices touched the higher limit on Nov. 4 and Nov. 5.
• Ishtar Gate For e-Payment Systems and Services (FISH) will start trading in the OTC on Nov. 11.

Stocks that resumed / will resume trading:

• New shares of Credit Bank of Iraq (BROI) from the capital increase to IQD319.87 bn resumed trading on Nov. 4.
• New shares of National Islamic Bank (BNAI) from the capital increase through an 11.63% rights issue and a 4.98% bonus issue to IQD351.0 bn resumed trading on Nov. 5.
• Ready Made Clothes (IRMC) resumed trading on Nov. 6 after holding its AGM on Oct. 31 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD0.04 cash dividend per share, corresponding to a 1.1% dividend yield.
• National Chemical & Plastic Industries (INCP) resumed trading on Nov. 6 after holding its AGM on Nov. 3 in which they discussed and approved electing four original and two alternative board members.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of National Islamic Bank (BNAI) starting Nov. 5 due to the AGM that will be held on Nov. 9 to discuss and approve electing seven original and seven alternative board members.
• ISX suspended trading of Al Taif Islamic Bank (BTIB) starting Nov. 7 due to the AGM that will be held on Nov. 12 to discuss and approve increasing the paid-in capital from IQD250.0 bn to IQD300.0 bn through a 20% rights issue.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 31st October 2024).

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

* Including OTC market

** Selling price of the dollar by banks and non-bank financial institutions to the final beneficiary

*** Selling price of the dollar by the CBI to the banks

(1) Excluding OTC market

Iraq Stock Exchange

• According to a CBI letter sent to all licensed banks about the monetary policy and reactivation of securities, the monetary policy rate has been reduced from 7.5% to 5.5%. An annual plan was also announced to reactivate Islamic securities (Islamic certificates of deposit and traditional transfers) for 14-day and 182-day terms, with respective returns of 4% and 5.5%. The maximum investment limit shall not exceed 50% of the bank's total private-sector deposits. Additionally, the bank's investment ceiling for a single auction shall not exceed IQD500 bn. (CBI)
• Chairman of the Board of Directors of the International Development Bank (BIDB), Ziad Khalaf, confirmed, on Tuesday, that the growth in the volume of trade exchange between Iraq and the UAE reached 41%. (INA)
• Al-Mansour Pharmaceuticals Industries (IMAP) clarified to ISC that the approval of the General Authority for any contract concluded by the company is the decisive factor in whether the contract enters into force or not. IMAP provided the necessary data regarding the contract for establishing a building for the production of specialized medicines for the treatment of cancer diseases.
• Babil Animal & Vegetable Production (ABAP) invited its shareholders to receive their cash dividends for the fiscal years 2022 & 2021 at the company's HQ, starting Oct. 27. The company decided in its recent AGM (May 19) to distribute IQD1.0 cash dividend per share.
• Babil Animal & Vegetable Production (ABAP) fulfilled ISX's request to explain why the prices touched the higher limit on Oct. 22 and Oct. 23. The company disclosed that the fundamental events or new matters that affected the price of the shares were related to the company's announcement of dividend distribution (100%) and the company's ambitious plan for expansion & activities.
• National Islamic Bank (BNAI) has completed the legal procedures for the capital increase through an 11.63% rights issue and a 4.98% bonus issue to IQD351.0 bn.
• Al Sanam Islamic Bank (BSAN) started trading in the OTC on Oct. 27 after completing the procedures for registering the shareholders' shares.
• The Light Industries (ITLI) have sent a late payment fine for the final accounts for the year 2018 to ISC in the amount of IQD2.5 mn.

Stocks that resumed / will resume trading:

• Rehab Karbala (HKAR) resumed trading on Oct. 27 after holding its AGM on Oct. 20 in which they discussed and approved 2023 annual financial statements.
• Iraqi Date Processing and Marketing (IIDP) resumed trading on Oct. 30 after holding its AGM on Oct. 26 in which they discussed and approved 2020, 2021, and 2022 annual financial statements and electing five original and five alternative board members.
• Mamoura Real-estate Investment (SMRI) resumed trading on Oct. 30 after holding its AGM on Oct. 27 in which they discussed and approved electing seven original and five alternative board members.
• Original shares of Ameen Al-Iraq Islamic Bank (BAME) resumed trading on Oct. 31 after holding its AGM on Oct. 15 in which they discussed and approved 2023 annual financial statements and increasing the paid-in capital from IQD250.0 bn to IQD353.0 bn through a 40.0% rights issue and a 1.2% bonus issue.
• Arabia Islamic Bank (BAAI) resumed trading on Oct. 31 after holding its AGM on Oct. 19 in which they discussed and approved 2023 annual financial statements.
• Iraqi Agricultural Products Marketing Meat (AIPM) resumed trading on Oct. 31 after not being able to hold its postponed AGM on Oct. 21.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Ready Made Clothes (IRMC) starting Oct. 28 due to the AGM that will be held on Oct. 31 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX suspended trading of National Chemical & Plastic Industries (INCP) starting Oct. 29 due to the AGM that will be held on Nov. 3 to discuss and approve electing four original and four alternative board members.
• ISX suspended trading of Trust International Islamic Bank (BTRU) starting Oct. 31 due to the AGM that will be held on Nov. 5 to discuss and approve 2023 annual financial statements and elect seven original and seven alternative board members.
• ISX will suspend trading of Al Janoob Islamic Bank (BJAB) starting Nov. 12 due to the AGM that will be held on Nov. 16 to discuss and approve electing new board members.
• ISX will suspend trading of Al-Mosul for Funfairs (SMOF) starting Nov. 12 due to the AGM that will be held on Nov. 16 to discuss and approve 2023 annual financial statements, dividend distribution, and electing four original and four alternative board members.
• ISX will suspend trading of Baghdad Hotel (HBAG) starting Nov. 13 due to the AGM that will be held on Nov. 18 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Erbil Bank for Investment (BERI) starting Nov. 26 due to the AGM that will be held on Nov. 29 to discuss and approve 2023 annual financial statements and elect 7 original and 7 alternative board members.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 24th Oct 2024).

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

* Including OTC market

** Selling price of the dollar by banks and non-bank financial institutions to the final beneficiary

*** Selling price of the dollar by the CBI to the banks

(1) Excluding OTC market

Iraq Stock Exchange

• The first issuance of "Enjaz" bonds was launched for trading starting Oct. 20, 2024, on the bond platform. The price change will be 5% according to the table received from the CBI. The bonds will trade from 10:00 am till 12:00 pm.
• ISX approved the listing of the second issuance of the Enjaz bonds.
• A cross transaction occurred on 14.9 bn shares of Economy Bank (BEFI) on Oct. 21, valued at IQD3.9 bn and corresponding to 5.7% of BEFI's capital.
• A cross transaction occurred on 8.0 bn shares of Iraq Noor Islamic Bank (BINI) on Oct. 21, valued at IQD3.6 bn and corresponding to 3.2% of BINI's capital.
• Commercial Bank of Iraq (BCOI) has completed its procedures with the Companies Registration Department, which includes amending the name and activity of the Commercial Bank of Iraq to the Commercial Islamic Bank of Iraq.
• According to the CBI letter No. 476/4/9, published on Oct. 14, the operations of the Commercial Bank of Iraq (BCOI) changed from Commercial to Islamic.
• The procedures for listing Ishtar Gate For e-Payment Systems and Services (FISH) on the OTC platform with its capital of IQD10.0 bn have been completed based on the instructions of the Securities Commission. The process of creating share certificates for the company's shareholders began on Oct. 20. Trading will be launched after depositing 5% of the capital, or 21 days from the depositing start date.
• The procedures for listing Al Mal Islamic Investment Bank (BMAL) on the Non-Regular Market (NRM) with its capital of IQD250 bn have been completed based on the instructions of the Securities Commission. The process of creating share certificates for the company's shareholders began on Oct. 24. Trading will be launched after depositing 5% of the capital, or 21 days from the depositing start date.
• Al Sanam Islamic Bank (BSAN) will start trading in the OTC on Oct. 27 after completing the procedures for registering the shareholders' shares.
• Babil Animal & Vegetable Production (ABAP) invited its shareholders to receive their cash dividends for the fiscal years 2022 & 2021 at the company's HQ, starting Oct. 27. The company decided in its recent AGM (May 19) to distribute IQD1.0 cash dividend per share.
• Modern Sewing (IMOS) invited its shareholders to receive their cash dividends for the fiscal year 2023, starting Nov. 5. The company decided in its recent AGM (Sep. 24) to distribute IQD0.25 cash dividend per share, corresponding to a 2.8% dividend yield.
• Credit Bank of Iraq (BROI) has completed the legal procedures for the capital increase to IQD319.87 bn.
• AL-Wiaam for Financial Investment (VWIF) has completed the legal procedures for the capital increase through a 150% rights issue to IQD5.0 bn.

Stocks that resumed / will resume trading:

• Trans Iraq Bank (BTRI) resumed trading on Oct. 20 after holding its AGM on Oct. 16 in which they discussed and approved electing one original and three reserve board members.
• Asiacell (TASC) resumed trading on Oct. 21 after holding its AGM on Oct. 19 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD1.0 cash dividend per share, corresponding to an 8.8% dividend yield.
• Sumer Commercial Bank (BSUC) resumed trading on Oct. 22 after postponing its AGM until further notice according to CBI's decision.
• The Light Industries (ITLI) resumed trading on Oct. 23 after holding its postponed AGM on Oct. 17 in which they discussed and approved 2017 & 2018 annual financial statements and electing four original and four alternative board members. The company postponed the decision regarding the removal of mining activity from the commercial register.
• Rehab Karbala (HKAR) will resume trading on Oct. 27 after holding its AGM on Oct. 20 in which they discussed and approved 2023 annual financial statements.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Iraqi Date Processing and Marketing (IIDP) starting Oct. 22 due to the AGM that will be held on Oct. 26 to discuss and approve 2020, 2021, and 2022 annual financial statements and electing five original and five alternative board members.
• ISX suspended trading of Mamoura Real-estate Investment (SMRI) starting Oct. 22 due to the AGM that will be held on Oct. 27 to discuss and approve electing seven original and seven alternative board members.
• ISX will suspend trading of Trust International Islamic Bank (BTRU) starting Oct. 31 due to the AGM that will be held on Nov. 5 to discuss and approve 2023 annual financial statements and elect seven original and seven alternative board members.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 17th Oct 2024).

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

*Selling price of the dollar from banks and non-bank financial institutions to the final beneficiary

**Selling price of the dollar by the CBI to the banks

Iraq Stock Exchange

• The Ministry of Finance, in cooperation with the Central Bank of Iraq, announced, on Sunday, the offering of a new issuance of government "Injaz/Enjaz" bonds (third issue) for public subscription, with a value of IQD1.3 trln. The Finance Ministry stated in a statement: "The categories offered are: a bond in the category of 500,000 dinars, with an annual interest of 6.5%, paid every six months for two years, and a bond in the category of 1,000,000 dinars, with an annual interest of 8.5%, paid every six months for four years," indicating: "The sale of bonds at nominal value begins for the period from October 14 to November 13, 2024." (MoF)
• Two cross transactions occurred on 13.3 bn shares of Iraq Noor Islamic Bank (BINI) on Oct. 14 and Oct. 15, valued at IQD6.0 bn and corresponding to 5.3% of BINI's capital.
• According to the ISC decision, the ISX transferred Iraqi Carton Manufacturies (IICM) from the Undisclosed Companies Market (UCM) to the Regular Market (RM) starting Oct. 17, 2024. (Note: ISX adjusted the starting date from Oct. 16 to Oct. 17)
• The procedures for listing Ishtar Gate For e-Payment Systems and Services (FISH) on the OTC platform with its capital of IQD10.0 bn have been completed based on the instructions of the Securities Commission. The process of creating share certificates for the company's shareholders will begin on Oct. 20. Trading will be launched after depositing 5% of the capital, or after 21 days from the depositing start date.
• The AGM of Iraqi Agricultural Products Marketing Meat (AIPM) has been postponed to Oct. 21 due to a lack of quorum.
• The AGM of Sumer Commercial Bank (BSUC) has been postponed until further notice according to CBI's decision. The bank will resume trading after holding the postponed AGM and sharing its minutes with ISX.

Stocks that resumed / will resume trading:

• Al-Ameen Estate Investment (SAEI) resumed trading on Oct. 14 after holding its AGM on Oct. 8 in which they discussed and approved 2023 annual financial statements, the activation of investments for the company and Al Hamra Real Estate Investment Company and electing five original and one alternative board members.
• Gulf Insurance and Reinsurance (NGIR) resumed trading on Oct. 15 after holding its AGM on Oct. 1 in which they discussed and approved 2023 annual financial statements.
• Union Bank (BUOI) resumed trading on Oct. 16 after postponing its AGM until further notice due to a lack of quorum.
• Trans Iraq Bank (BTRI) will resume trading on Oct. 20 after holding its AGM on Oct. 16 in which they discussed and approved electing one original and three reserve board members.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Trans Iraq Bank (BTRI) starting Oct. 13 due to the AGM that will be held on Oct. 16 to discuss and approve electing one original and three reserve board members.
• ISX suspended trading of Asiacell (TASC) starting Oct. 15 due to the AGM that will be held on Oct. 19 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX suspended trading of Arabia Islamic Bank (BAAI) starting Oct. 15 due to the AGM that will be held on Oct. 19 to discuss and approve 2023 annual financial statements.
• ISX suspended trading of Rehab Karbala (HKAR) starting Oct. 15 due to the AGM that will be held on Oct. 20 to discuss and approve 2023 annual financial statements.
• ISX will suspend trading of Ready Made Clothes (IRMC) starting Oct. 28 due to the AGM that will be held on Oct. 31 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of National Islamic Bank (BNAI) starting Nov. 5 due to the AGM that will be held on Nov. 9 to discuss and approve electing seven original and seven alternative board members.
• ISX will suspend trading of Cihan Bank (BCIH) starting Nov. 12 due to the AGM that will be held on Nov. 15 to discuss and approve 2023 annual financial statements and increasing the paid-in capital from IQD355.0 bn to IQD400.0 bn through a 6.8% rights issue and a 5.9% bonus issue.
• ISX will suspend trading of Modern Chemical Industries (IMCI) starting Dec. 9 due to the AGM that will be held on Dec. 15 to discuss and approve 2023 annual financial statements.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 10th Oct 2024).

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

*Selling price of the dollar from banks and non-bank financial institutions to the final beneficiary

**Selling price of the dollar by the CBI to the banks

Iraq Stock Exchange

• On Thursday, the Iraqi Securities Commission (ISC) announced the conclusion of an agreement with the International Finance Organization to develop the Iraqi market, and while it indicated the preparation of a guidebook to increase the transparency of companies, it confirmed that the new website of the Iraqi Stock Exchange will cover spot stock prices and is considered a qualitative leap. (INA)
• Four cross transactions occurred on 21.0 bn shares of Trans Iraq Bank (BTRI) on Oct. 7, Oct. 8, Oct. 9, and Oct. 10, valued at IQD10.3 bn and corresponding to 7.9% of BTRI's capital.
• The procedures for listing Al Sanam Islamic Bank (BSAN) on the OTC platform with its capital of IQD300 bn have been completed based on the instructions of the Securities Commission. The process of creating share certificates for the company's shareholders began on Oct. 6. Trading will be launched after depositing 5% of the capital, or after 21 days from the depositing start date.
• Following the ISX letter on Oct. 9, ISX decided to continue the suspension of trading of Union Bank (BUOI) until the bank provides the AGM minutes for the meeting scheduled to take place on Oct. 12.
• Bain Alnahrain Investment (VMES) will hold its AGM on Nov. 7 to discuss and approve 2022 & 2023 annual financial statements, dividend distribution, and the decision of the CBI to withdraw the license and liquidate the company. The company had already been suspended from trading by ISX on Aug. 26 due to their failure to meet the requirements for maintaining a license.

Stocks that resumed / will resume trading:

• Iraq Noor Islamic Bank (BINI) resumed trading on Oct. 6 after holding its AGM on Sep. 29 in which they discussed and approved 2023 annual financial statements and electing seven original and seven alternative board members.
• New shares of Cihan Bank for Islamic & Finance (BCIH) from the capital increase through a 16.4% rights issue to IQD355.0 bn resumed trading on Oct. 6.
• Original shares of Commercial Islamic Bank of Iraq (BCOI) resumed trading on Oct. 8 after holding its AGM on Sep. 27 in which they discussed and approved 2023 annual financial statements, increasing the paid-in capital from IQD250.0 bn to IQD292.5 bn through a 17% bonus issue, and electing 3 alternative board members.
• Al Mustashar Islamic Bank (BMUI) resumed trading on Oct. 10 after holding its AGM on Oct. 4 in which they discussed and approved 2023 annual financial statements and electing 7 original and 7 alternative board members.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of The Light Industries (ITLI) starting Oct. 7 due to the AGM that will be held on Oct. 10 to discuss and approve 2017 & 2018 annual financial statements, the removal of mining activity from the commercial register, and electing four original and four alternative board members.
• ISX suspended trading of Sumer Commercial Bank (BSUC) starting Oct. 8 due to the AGM that will be held on Oct. 11 to discuss and approve 2023 annual financial statements.
• ISX suspended trading of Iraqi Agricultural Products Marketing Meat (AIPM) starting Oct. 9 due to the AGM that will be held on Oct. 14 to discuss and approve electing four original and four alternative board members.
• ISX suspended trading of Ameen Al-Iraq Islamic Bank (BAME) starting Oct. 10 due to the AGM that will be held on Oct. 15 to discuss and approve 2023 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD250.0 bn to IQD350.0 bn through 40.0% rights issue. (The bank adjusted its decision to increase the capital from IQD250 bn to IQD300 bn which was decided in its AGM held on Nov. 30, 2023.)
• ISX will suspend trading of Iraqi Date Processing and Marketing (IIDP) starting Oct. 22 due to the AGM that will be held on Oct. 26 to discuss and approve 2020, 2021, and 2022 annual financial statements and electing five original and five alternative board members.
• ISX will suspend trading of National Chemical & Plastic Industries (INCP) starting Oct. 29 due to the AGM that will be held on Nov. 3 to discuss and approve electing four original and four alternative board members.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 3rd Oct 2024).

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

*Selling price of the dollar from banks and non-bank financial institutions to the final beneficiary

**Selling price of the dollar by the CBI to the banks

Iraq Stock Exchange

• ISX announced that on Sep. 29, 2024, the deposit operations for the first issuance of "Injaz/Enjaz bonds" began in the deposit center. The bonds will be launched for trading starting Oct. 20, 2024, on the bond platform. The price change will be 5% according to the table received from the CBI. The bonds will trade from 10:00 am till 12:00 pm.
• A cross transaction occurred on 1.8 bn shares of Iraqi Date Processing and Marketing (IIDP) on Oct. 1, valued at IQD5.3 bn and corresponding to 10.4% of IIDP's capital.
• Baghdad Soft Drinks (IBSD) invited its shareholders to receive their cash dividends for the fiscal year 2023, starting Oct. 1. The company decided in its recent AGM (Sep. 12) to distribute IQD0.29 cash dividend per share, corresponding to a 7.0% dividend yield.
• Babylon Hotel (HBAY) invited its shareholders who did not receive their cash dividends for the fiscal years 1997 until 2022 to go to the company's hotel in order to receive them.
• Subscription to 15.6% rights issue of Economy Bank (BEFI) to reach IQD300.0 bn capital ended on Sep. 18.
• Subscription to 11.63% rights issue of National Islamic Bank (BNAI) to reach IQD351 bn capital ended on Sep. 25.
• The procedures for listing Al Sanam Islamic Bank (BSAN) on the OTC platform with its capital of IQD300 bn have been completed based on the instructions of the Securities Commission. The process of creating share certificates for the company's shareholders will begin on Oct. 6. Trading will be launched after depositing 5% of the capital, or after 21 days from the depositing start date.
• The AGM of Al-Ameen Estate Investment (SAEI) has been postponed to Oct. 8 due to a lack of quorum.
• The Fourth World Investor Day Conference, organized by the Iraqi Securities Commission (ISC), was launched on Tuesday in Baghdad, in the presence of an elite group of ministers, heads of government bodies, and diplomatic missions, in addition to Iraqi businessmen. The conference seeks to discuss available investment opportunities and exchange visions among participants while emphasizing the role of the securities sector in achieving sustainable economic development. (ISC)
• On Tuesday, ISC announced the launch of its new website to promote investment in Iraq, and while it indicated concluding an agreement with Egypt to modernize the electronic trading system, it confirmed the development of a strategy to transform Iraq into a regional center for investment. (INA)

Stocks that resumed / will resume trading:

• Modern Sewing (IMOS) resumed trading on Sep. 29 after holding its AGM on Sep. 24 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD0.25 cash dividend per share, corresponding to a 2.8% dividend yield.
• Iraq Noor Islamic Bank (BINI) will resume trading on Oct. 6 after holding its AGM on Sep. 29 in which they discussed and approved 2023 annual financial statements and electing 7 original and 7 alternative board members.
• New shares of Cihan Bank for Islamic & Finance (BCIH) from the capital increase through a 16.4% rights issue to IQD355.0 bn will resume trading on Oct. 6.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Al Mustashar Islamic Bank (BMUI) starting Oct. 1 due to the AGM that will be held on Oct. 4 to discuss and approve 2023 annual financial statements, dividend distribution, and electing seven original and seven alternative board members.
• ISX suspended trading of Union Bank (BUOI) starting Oct. 1 due to the AGM that will be held on Oct. 5 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Mamoura Real-estate Investment (SMRI) starting Oct. 22 due to the AGM that will be held on Oct. 27 to discuss and approve electing seven original and seven alternative board members.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 26th September 2024).

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

*Selling price of the dollar from banks and non-bank financial institutions to the final beneficiary

**Selling price of the dollar by the CBI to the banks

Iraq Stock Exchange

• On Tuesday, Nokia announced a strategic partnership with Zain Iraq (TZNI) to upgrade the telecom operator's network in the south of Iraq. The three-year deal marks Nokia's first entry into the microwave (MW) business with TZNI, enhancing network capacity and modernizing the infrastructure to support future growth and increased traffic demand. (Iraqi Business News)
• ISX announced that on Sep. 29, 2024, the deposit operations for the first issuance of "Injaz/Enjaz bonds" will begin in the deposit center. The bonds will be launched for trading starting Oct. 20, 2024, on the bond platform. The price change will be 5% according to the table received from the CBI. The bonds will trade from 10:00 am till 12:00 pm.
• Regarding the capital increase decision of Credit Bank of Iraq (BROI) to reach IQD325.0 bn capital through 22.8% rights issue and 7.2% bonus, the subscription to right issue ended on Sep. 11. Due to the lack of 5.13 bn shares that were not subscribed to, the paid-in capital was able to reach IQD319.87 bn. BROI has a four-month extension period to issue the new shares starting from Sep. 2, 2024.
• Subscription to 20.0% rights issue of Al Masherq Al-Arabi Islamic Bank (BAMS) to IQD300.0 bn capital ended on Sep. 18.
• Iraqi Agricultural Products Marketing Meat (AIPM) announced that the location of the AGM, which will be held on Oct. 14, has changed to Al-Mamoun Hall for Events near the Yarmouk traffic intersection.
• Cihan Bank for Islamic & Finance (BCIH) has completed the legal procedures for the capital increase through a 16.4% rights issue to IQD355.0 bn.

Stocks that resumed / will resume trading:

• Iraqi for Seed Production (AISP) resumed trading on Sep. 23 after holding its AGM on Sep. 14. The company postponed the meeting until the opinion of the General Secretariat of the Council of Ministers is known regarding the interpretation of the Council of Ministers' decision to recommend the Ministerial Council for the Economy to increase the capital in accordance with Article (55/first/second/third/fourth) of the Companies Law.
• New shares of Al-Mansour Bank (BMNS) from the capital increase through a 5.0% rights issue and a %12.0 bonus issue to IQD351.0 bn resumed trading on Sep. 24.
• Kurdistan Internat. Islamic Bank (BKUI) resumed trading on Sep. 25 due to disclosing its FY23 financial results.
• United Bank (BUND) and National Chemical & Plastic Industries (INCP) were moved to the Undisclosed Companies Market (UCM) and resumed trading on Sep. 25.
• Modern Sewing (IMOS) will resume trading on Sep. 29 after holding its AGM on Sep. 24 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD0.25 cash dividend per share, corresponding to a 2.8% dividend yield. The opening price will be IQD8.650 per share.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Commercial Islamic Bank of Iraq (BCOI) starting Sep. 24 due to the AGM that will be held on Sep. 27 to discuss and approve 2023 annual financial statements, dividend distribution, increasing the paid-in capital from IQD250.0 bn to IQD292.5 bn through a 17% bonus issue, and electing 3 alternative board members.
• ISX suspended trading of Iraq Noor Islamic Bank (BINI) starting Sep. 24 due to the AGM that will be held on Sep. 29 to discuss and approve 2023 annual financial statements and electing seven original and seven alternative board members.
• ISX suspended trading of Babylon Bank (BBAY) starting Sep. 25 due to not paying the fines (IQD10.0 mn) for not submitting FY22 & FY23 annual financial statements. Based on CBI's decision No. (203) of 2024, the bank will be referred to forced liquidation based on the provisions of Article No. 69 of the Banking Law. No. 94 of 2004 and Mr. Ahmed Abdul Mahdi Nehme will be appointed as a liquidator for the bank.
• ISX suspended trading of Gulf Insurance and Reinsurance (NGIR) starting Sep. 26 due to the AGM that will be held on Oct. 1 to discuss and approve 2023 annual financial statements.
• ISX suspended trading of Al-Ameen Estate Investment (SAEI) starting Sep. 26 due to the AGM that will be held on Oct. 1 to discuss and approve 2023 annual financial statements, the activation of investments for the company and Al Hamra Real Estate Investment Company and electing five original and five alternative board members.
• ISX will suspend trading of Al Mustashar Islamic Bank (BMUI) starting Oct. 1 due to the AGM that will be held on Oct. 4 to discuss and approve 2023 annual financial statements, dividend distribution, and electing seven original and seven alternative board members.
• ISX will suspend trading of Asiacell (TASC) starting Oct. 15 due to the AGM that will be held on Oct. 19 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Arabia Islamic Bank (BAAI) starting Oct. 15 due to the AGM that will be held on Oct. 19 to discuss and approve 2023 annual financial statements.
• ISX will suspend trading of Electronic Industries (IELI) starting Nov. 25 due to the AGM that will be held on Nov. 28 to discuss and approve 2017, 2018, and 2019 annual financial statements and electing four original and four alternative board members.
• ISX will suspend trading of Kharkh Tour Amusement City (SKTA) starting Dec. 3 due to the AGM that will be held on Dec. 8 to discuss and approve 2023 annual financial statements, dividend distribution, increasing the paid-in capital from IQD1.5 bn to IQD2.0 bn through %33.3 rights issue.

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