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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 19th 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

• Al-Mansour Bank (BMNS) has completed the legal procedures for the capital increase through a 5.0% rights issue and a %12.0 bonus issue to IQD351.0 bn.
• Al-Mansour Hotels (HMAN) announced that there will be no dividend distribution for the fiscal year ending on 12/31/2022 because the Companies' Registrar did not approve the decision made by HMAN in the recent AGM. (Note: The company decided in its recent AGM (Feb. 26) to distribute IQD0.1528 cash dividend per share, corresponding to a 0.4% dividend yield.)
• Al-Warka Investment Bank (BWAI) started trading in the OTC on Sep. 16 after completing the procedures for registering the shareholders' shares and depositing a percentage exceeding 20% of the company's capital.
• The ISC has approved the request of Credit Bank of Iraq (BROI) to have a four-month extension period to add the new shares from the capital increase through a 22.8% rights issue and 7.2% bonus issue to IQD325.0 bn starting from Sep. 2, 2024.
• Iraqi Engineering Works (IIEW) fulfilled ISX's request to explain why the prices touched the higher limit on Sep. 10 and Sep. 11. The company disclosed that there were no fundamental events or new matters that affected the price of the shares.
• Al-Ameen Estate Investment (SAEI) fulfilled ISX's request to explain why the prices touched the higher limit on Sep. 11 and Sep. 12. The company disclosed that there were no fundamental events or new matters that affected the price of the shares other than announcing the date of the AGM.
• ISX requested Iraqi for Seed Production (AISP) to provide its AGM minutes for the meeting held on Sep. 14, 2024.
• Rajih Islamic Bank for Investment (BRAJ) will hold its AGM on Oct. 9 to discuss and approve 2022 & 2023 annual financial statements and dividend distribution. The company had already been suspended from trading by the ISC starting Sep. 19, 2021.

Stocks that resumed / will resume trading:

• Baghdad Soft Drinks (IBSD) resumed trading on Sep. 18 after holding its AGM on Sep. 12 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD0.29 cash dividend per share, corresponding to a 7.0% dividend yield.
• Al-Ataa Islamic Bank (BLAD) resumed trading on Sep. 16 after holding its AGM on Sep. 10 in which they discussed and approved 2023 annual financial statements.
• AHliya For Insurance (NAHF) resumed trading on Sep. 17 after holding its AGM on Aug. 29 in which they discussed and approved 2023 annual financial statements.
• New shares of National Household Furniture Industry (IHFI) from the capital increase through a 100% rights issue to IQD3.32 bn resumed trading on Sep. 17.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Modern Sewing (IMOS) starting Sep. 19 due to the AGM that will be held on Sep. 24 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend 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 will suspend 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 will suspend 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.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 12th Sept 2024).

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

Note: ISX will be closed on Sep. 15, 2024 (Sunday) due to a religious holiday (Prophet's Birthday). The next trading session will be held on Sep. 16, 2024 (Monday).

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Iraq Stock Exchange

• A cross transaction occurred on 7.2 bn shares of Erbil Bank for Investment & Finance (BERI) on Sep. 8, valued at IQD790.0 mn and corresponding to 2.7% of BERI's capital.
• A cross transaction occurred on 950.0 mn shares of Ameen Al-Iraq Islamic Bank (BAME) on Sep. 9, valued at IQD950.0 mn and corresponding to 0.4% of BAME's capital.
• National Bank of Iraq (BNOI) invited its shareholders to receive their cash dividends for the fiscal year 2023 through all the branches of the bank, starting Sep. 11. The company decided in its recent AGM (Apr. 8) to distribute IQD0.2 cash dividend per share, corresponding to a 5.6% dividend yield.
• Baghdad Soft Drinks (IBSD) decided in its AGM held on Sep. 12 to distribute IQD0.29 cash dividend per share, corresponding to a 7.0% dividend yield.
• Bank of Baghdad (BBOB) invited its shareholders to receive their cash dividends for the fiscal year 2023 at its headquarters / General Administration, starting Sep. 12. The company decided in its recent AGM (May 18) to distribute IQD0.17 cash dividend per share, corresponding to a 4.1% dividend yield. (The bank changed the cash dividend per share from IQD0.19 to IQD0.17)
• Iraqi for Seed Production (AISP) announced that the distribution of cash dividends for the fiscal year 2021 started on Mar. 17, 2024, and is still ongoing. The company decided in its recent AGMs (Nov. 26, 2023 & Jan. 25, 2024) to distribute IQD0.819 cash dividend per share, corresponding to a 7.2% dividend yield.
• Al Janoob Islamic Bank (BJAB) announced that the distribution of cash dividends for the fiscal year ending on 12/31/2023 took place on Jul. 10, 2024. The company decided in its recent AGM (Jun. 1) to distribute IQD0.061 cash dividend per share, corresponding to a 6.1% dividend yield.
• The procedures for listing Al-Warka Investment Bank (BWAI) on the OTC platform with its capital of IQD271,626,270,238 have been completed based on the instructions of the Securities Commission. The company will start trading in the OTC on Sep. 16 after completing the procedures for registering the shareholders' register and depositing a percentage exceeding 20% of the company's capital.
• ISX requested Iraqi Engineering Works (IIEW) to explain why the prices touched the higher limit on Sep. 10 and Sep. 11.
• ISX requested Al-Ameen Estate Investment (SAEI) to explain why the prices touched the higher limit on Sep. 11 and Sep. 12.
• The ISC approved the request of Ishtar Hotels (HISH) for an additional extension period of 1 year to submit its 2023 annual financial statements.

Stocks that resumed / will resume trading:

• Dar Al-Salam for Insurance (NDSA) resumed trading on Sep. 10 after holding its AGM on Sep. 8 in which they discussed and approved 2023 annual financial statements.
• Al-Ataa Islamic Bank (BLAD) will resume trading on Sep. 16 after holding its AGM on Sep. 10 in which they discussed and approved 2023 annual financial statements.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Baghdad Soft Drinks (IBSD) starting Sep. 9 due to the AGM that will be held on Sep. 12 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX suspended trading of Iraqi for Seed Production (AISP) starting Sep. 10 due to the AGM that will be held on Sep. 14 to discuss and approve dividend distribution and increasing the paid-in capital from IQD20.0 bn to IQD26.0 bn through a 30% bonus issue.
• ISX will suspend 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 will suspend 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 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 will suspend 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 will suspend 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 will suspend 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. (Note: ISX adjusted the suspension date)
• ISX will suspend 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 will suspend 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 Al-Mansour Pharmaceuticals Industries (IMAP) starting Nov. 27 due to the AGM that will be held on Dec. 2 to discuss and approve 2023 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD16.0 bn to IQD20.0 bn through 25.0% rights issue (The share price is set at 2.5 dinars).

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 5th Sept 2024).

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Iraq Stock Exchange

• A cross transaction occurred on 3.0 bn shares of International Islamic Bank (BINT) on Sep. 1, valued at IQD999.9 mn and corresponding to 1.2% of BINT's capital.
• A cross transaction occurred on 1.3 bn shares of Bank of Baghdad (BBOB) on Sep. 2, valued at IQD3.8 bn and corresponding to 0.3% of BBOB's capital.
• A cross transaction occurred on 3.4 bn shares of Al Mustashar Islamic Bank (BMUI) on Sep. 4, valued at IQD3.4 bn and corresponding to 1.3% of BMUI's capital.
• Iraqi For Tufted Carpets (IITC) invited its shareholders to receive their cash dividends for FY23 at its headquarters in Baghdad-Al-Dawoudy, Al-Hamra, starting Sep. 1. The company decided in its recent AGM (Jul. 14) to distribute IQD0.8 cash dividend per share, corresponding to a 5.3% dividend yield.
• According to the ISC decision on Aug. 21, the ISX transferred Gulf Insurance and Reinsurance (NGIR) and Al-Sadeer Hotel (HSAD) from the Undisclosed Companies Market (UCM) to the Regular Market (RM) starting Sep. 1, 2024.
• Ahliya For Insurance (NAHF) invited its shareholders to subscribe to 8.0 bn shares starting Sep. 4 from the capital increase to IQD15.0 bn through 114.3% rights issue. The subscription period is no less than 30 days and no more than 60 days.
• The ISC approved the request of Iraqi Carton Manufacturies (IICM) for an additional extension period of 1 year to submit its 2023 annual financial statements.

Stocks that resumed / will resume trading:

• Al-Khatem Telecoms (TZNI) resumed trading on Sep. 5 due to disclosing its FY23 financial results.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Dar Al-Salam for Insurance (NDSA) starting Sep. 3 due to the AGM that will be held on Sep. 8 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX suspended trading of the following companies starting Sep. 4 in accordance with an ISC decision due to not disclosing their 2023 annual financial statements: BKUI, BUND, INCP, and TZNI (BZII has already been suspended). The following companies will continue to trade in the Undisclosed Capital Market (UCM): AMAP, ITLI, IMCM, IELI, SBAG, SIGT, SBAG, VBAT, BBAY, and HPAL (BNOR and VKHF are already suspended).
• ISX suspended trading of Al-Ataa Islamic Bank (BLAD) starting Sep. 5 due to the AGM that will be held on Sep. 10 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend 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 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.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 29th August 2024).

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

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Iraq Stock Exchange

• National Islamic Bank (BNAI) invited its shareholders to subscribe to 35.0 bn shares starting Aug. 27 from the capital increase to IQD351.0 bn through 11.63% rights issue and 4.98% bonus issue. The subscription period is no less than 30 days and no more than 60 days.
• Iraqi For Tufted Carpets (IITC) invited its shareholders to receive their cash dividends for FY23 at its headquarters in Baghdad-Al-Dawoudy, Al-Hamra, starting Sep. 1. The company decided in its recent AGM (Jul. 14) to distribute IQD0.8 cash dividend per share, corresponding to a 5.3% dividend yield.
• According to the ISC decision on Aug. 21, the ISX will transfer Gulf Insurance and Reinsurance (NGIR) and Al-Sadeer Hotel (HSAD) from the Undisclosed Companies Market (UCM) to the Regular Market (RM) starting Sep. 1, 2024.
• AHliya For Insurance (NAHF) invited its shareholders to subscribe to 8.0 bn shares starting Sep. 4 from the capital increase to IQD15.0 bn through 114.3% rights issue. The subscription period is no less than 30 days and no more than 60 days.
• Al-Zawraa for Financial Investment (VZAF) will hold its AGM on Oct. 7 to discuss and approve 2023 annual financial statements. The company had already been suspended from trading by ISX due to its failure to meet the requirements for maintaining a license.
• Based on the letter of the Central Bank of Iraq (CBI) (No. 9998/4/9 dated Aug. 21, 2024), for the following banks CBI extended the period for the required capital increase to IQD350 bn until Oct. 31, 2024: Economy Bank (BEFI), Ameen Al-Iraq Islamic Bank (BAME), Credit Bank of Iraq (BROI), Gulf Commercial Bank (BGUC), United Bank (BUND), National Islamic Bank (BNAI).

Stocks that resumed / will resume trading:

• Iraqi Date Processing and Marketing (IIDP) resumed trading on Aug. 27 after not being able to hold its AGM on Aug. 14 and Aug. 21 due to a lack of quorum.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of AHliya For Insurance (NAHF) starting Aug. 26 due to the AGM that will be held on Aug. 29 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX suspended trading of Al-Khair Financial Investment (VKHF), Bain Alnahrain Investment (VMES), and Al-Zawraa for Financial Investment (VZAF) starting August 26, following Central Bank Board of Directors' Resolution No. 195 of 2024. This resolution withdrew the companies' licenses due to their failure to meet the requirements for maintaining a license until their legal issues are resolved.
• ISX will suspend 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.)

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 22nd Aug 2024).

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

Note: ISX will be closed on Aug. 25, 2024 (Sunday) due to a religious holiday (The fortieth of Imam Hussein). The next trading session will be held on Aug. 26, 2024 (Monday).

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

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Iraq Stock Exchange

• Three cross transactions occurred on 16.15 bn shares of International Islamic Bank (BINT) on Aug. 19 and Aug. 20, valued at IQD5.33 bn and corresponding to 6.2% of BINT's capital.
• A cross transaction occurred on 10.1 bn shares of Erbil Bank for Investment & Finance (BERI) on Aug. 20, valued at IQD1.1 bn and corresponding to 3.8% of BERI's capital.
• Fitch Ratings has affirmed the Iraqi Islamic Bank for Investment & Development's (BIIB) Long-Term Issuer Default Rating (IDR) at 'CCC+' and Viability Rating (VR) at 'ccc+'. (FitchRatings)
• National Household Furniture Industry (IHFI) fulfilled ISX's request to explain why the prices touched the higher limit on Aug. 18 and Aug. 19. The company disclosed that there were no fundamental events or new matters that affected the price of the shares.

Stocks that resumed / will resume trading:

• Al-HiLal Industries (IHLI) resumed trading on Aug. 21 after holding its AGM on Aug. 15 in which they discussed and approved 2018, 2019, 2020, and 2021 annual financial statements and electing five original and four alternative board members.
• Economy Bank (BEFI) resumed trading on Aug. 22 after holding its AGM on Aug. 13 in which they discussed and approved 2023 annual financial statements.

Stocks that were suspended / will be suspended from trading:

• ISX will suspend trading of Iraqi for Seed Production (AISP) starting Sep. 10 due to the AGM that will be held on Sep. 14 to discuss and approve dividend distribution and increasing the paid-in capital from IQD20.0 bn to IQD26.0 bn through a 30% bonus issue.
• ISX will suspend 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: 15th Aug 2024).

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

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Iraq Stock Exchange

• A cross transaction occurred on 2.9 bn shares of International Islamic Bank (BINT) on Aug. 15, valued at IQD957 mn and corresponding to 1.1% of BINT's capital.
• On Monday, Mr. Ahmed Al-Sheikh, Chairman of the Board of Directors of the Egyptian Stock Exchange, and Mr. Thaer Adnan Hashem, Chairman of the Board of Governors of the ISX, in the presence of Mr. Faisal Al-Haimus, Chairman of the ISC, signed a cooperation protocol between the two stock exchanges. The two countries aim to strengthen cooperation and improve the level of coordination between the two parties, increase the prospects for joint work, exchange experiences and information in all aspects of investment, and develop existing legislative procedures for both. (ISC)
• In a step aimed at developing and improving the investment environment in Iraq, and under the auspices of the ISC, the ISX signed, on Tuesday, a cooperation agreement with the Egyptian Company for Information Dissemination, after intense discussions that lasted for more than six months. The agreement includes licensing, use and maintenance of the investors' remote trading system (OMS), broker management (Back Office), and portfolio management for investors, for a period of five years.
• Subscription to 5.0% rights issue of Al-Mansour Bank (BMNS) to reach IQD351.0 bn capital ended on Aug. 7.
• National Islamic Bank (BNAI) invited its shareholders to subscribe to 35.0 bn shares starting Aug. 27 from the capital increase to IQD351.0 bn through 11.63% rights issue and 4.98% bonus issue. The subscription period is no less than 30 days and no more than 60 days.
• The ISC approved the request of Al-Sadeer Hotel (HSAD) for an additional extension period of 1 year to submit its 2023 annual financial statements.
• The ISC has approved the request of Ameen Al-Iraq Islamic Bank (BAME) to have a three-month extension period to add the new shares from the capital increase through a 20% rights issue to IQD300.0 bn starting from Jun. 30, 2024.

Stocks that resumed / will resume trading:

• New shares of International Development Bank (BIDB) from the capital increase through a 33.3% rights issue to IQD400.0 bn resumed trading on Aug. 15.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Iraqi Date Processing and Marketing (IIDP) starting Aug. 11 due to the AGM that will be held on Aug. 14 to discuss and approve 2020 & 2021 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: 8th Aug 2024).

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Iraq Stock Exchange

• A cross transaction occurred on 1.8 bn shares of International Islamic Bank (BINT) on Aug. 4, valued at IQD630.0 mn and corresponding to 0.7% of BINT's capital.
• International Development Bank (BIDB) has completed the legal procedures for the capital increase through a 33.3% rights issue to IQD400.0 bn.
• Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a cooperation agreement with the BIDB, the largest banking network in Iraq, to support the 'Xport Xponential' initiative. BIDB will now offer additional funding opportunities for export and re-export companies in the UAE. The agreement further advances the development of credit solutions by providing businesses with access to the markets of Iraq. (Iraqi Business News)
• The Central Bank of Iraq issued an administrative decision to place Zain Al-Iraq Islamic Bank (BZII) under receivership. (NINA)
• The ISC approved the request of Asiacell (TASC) and Al-Khatem Telecoms (TZNI) for an additional extension period of 30 days starting Aug. 1, 2024, to submit their 2023 annual financial statements.
• Iraqi Agricultural Products Marketing Meat (AIPM) invited its shareholders to receive their cash dividends for FY22 at its headquarters located in Yarmouk, Sinwar Square, starting Aug. 4. The company decided in its recent AGM (Dec. 24) to distribute IQD0.08 cash dividend per share, corresponding to a 1.0% dividend yield.

Stocks that resumed / will resume trading:

• Trans Iraq Bank (BTRI) resumed trading on Aug. 5 after holding its AGM on Jul. 29 in which they discussed and approved 2023 annual financial statements.
• Original shares of International Development Bank (BIDB) resumed trading on Aug. 7 after holding its AGM on Jun. 4 in which they discussed and approved 2023 annual financial statements, increasing the paid-in capital from IQD300.0 bn to IQD400.0 bn through 33.3% rights issue, and decided to distribute IQD0.1666 cash dividend per share, corresponding to a 16.7% dividend yield.
• Modern Animal & Agricultural Production (AMAP) and Gulf Insurance and Reinsurance (NGIR) were moved to the Undisclosed Capital Market (UCM) and resumed trading on Aug. 8.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Economy Bank (BEFI) starting Aug. 8 due to the AGM that will be held on Aug. 13 to discuss and approve 2023 annual financial statements and dividend distribution.
• Based on the letter of the Iraqi Securities Commission No. (173/2) dated Aug. 8, 2024; ISX will suspend trading of Zain Al-Iraq Islamic Bank (BZII) starting Aug. 11 until the bank becomes no longer under receivership.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 1st Aug 2024).

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Iraq Stock Exchange

• A cross transaction occurred on 10.1 bn shares of Erbil Bank for Investment & Finance (BERI) on Jul. 28, valued at IQD1.1 bn and corresponding to 3.8% of BERI's capital.
• Four cross transactions occurred on 12.0 bn shares of International Islamic Bank (BINT) on Jul. 29, Jul. 30, Jul. 31, and Aug. 1 valued at IQD4.2 bn and corresponding to %4.6 of BINT's capital.
• The location of the headquarters of Iraqi Agricultural Products (AIRP) has changed, moving to the new building which is located in Al-Mansour Area near Abu Jaafar Al-Mansour Square, opposite the Securities Commission, District 603, Alley 48, Building no. 12.

Stocks that resumed / will resume trading:

• Ibdaa Al-Sharq Al-Awsat General Contract (SIBD) resumed trading on Jul. 28 after holding its AGM on Jun. 11 in which they discussed and approved the resignation of the chartered accountant and appointing an auditor for 2023.
• National Chemical & Plastic Industries (INCP) resumed trading on Jul. 29 after holding its AGM on Jul. 23 in which they discussed and approved 2022 annual financial statements and decided to distribute IQD0.00669 cash dividend per share, corresponding to a 0.4% dividend yield.
• Al-Hamraa for Insurance (NHAM) resumed trading on Jul. 30 after holding its AGM on Jul. 24 in which they discussed and approved 2022 annual financial statements and electing five original and five alternative board members.
• Al Taif Islamic Bank (BTIB) resumed trading on Jul. 31 after holding its AGM on Jul. 28 in which they discussed and approved 2023 annual financial statements.

Stocks that were suspended / will be suspended from trading:

• ISX will suspend trading of Baghdad Soft Drinks (IBSD) starting Sep. 9 due to the AGM that will be held on Sep. 12 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Al-HiLal Industries (IHLI) starting Aug. 12 due to the AGM that will be held on Aug. 15 to discuss and approve 2018, 2019, 2020, and 2021 annual financial statements and electing five original and five alternative board members.
• ISX will suspend trading of Al-Ataa Islamic Bank (BLAD) starting Sep. 5 due to the AGM that will be held on Sep. 10 to discuss and approve 2023 annual financial statements and dividend distribution.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 25th July 2024).

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Iraq Stock Exchange

• A cross transaction occurred on 4.2 bn shares of Al-Mansour Bank (BMNS) on Jul. 24, valued at IQD5.8 bn and corresponding to 1.4% of BMNS's capital.
• A cross transaction occurred on 2.2 bn shares of International Islamic Bank (BINT) on Jul. 25, valued at IQD770 mn and corresponding to 0.8% of BINT's capital.
• Economy Bank (BEFI) decided to extend the subscription on 39.1 bn shares for another 60 days starting Jul. 21 due to the incomplete subscription of the full amount during the first 60 days.
• Gulf Insurance and Reinsurance (NGIR) will hold its AGM on Aug. 3 to discuss and approve electing seven original and seven alternative board members. The company had already been suspended from trading by ISX due to not disclosing its 3M24 financial statements.
• Iraqi Agricultural Products Marketing Meat (AIPM) invited its shareholders to receive their cash dividends for FY22 at its headquarters located in Yarmouk, Sinwar Square, starting Aug. 4. The company decided in its recent AGM (Dec. 24) to distribute IQD0.08 cash dividend per share, corresponding to a 1.0% dividend yield.

Stocks that resumed / will resume trading:

• Zain Al-Iraq Islamic Bank (BZII), Ameen Al-Iraq Islamic Bank (BAME), and Babil Animal & Vegetable Production (ABAP) resumed trading on Jul. 21 after fulfilling ISC's request and publishing its 3M24 financial statements.
• Ibdaa Al-Sharq Al-Awsat General Contract (SIBD) will resume trading on Jul. 28 after holding its AGM on Jun. 11 in which they discussed and approved the resignation of the chartered accountant and appointing an auditor for the year 2023.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Al-Hamraa for Insurance (NHAM) starting Jul. 21 due to the AGM that will be held on Jul. 24 to discuss and approve 2022 annual financial statements and electing five original and five alternative board members.
• ISX suspended trading of Al Taif Islamic Bank (BTIB) starting Jul. 23 due to the AGM that will be held on Jul. 28 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX suspended trading of Trans Iraq Bank (BTRI) starting Jul. 24 due to the AGM that will be held on Jul. 29 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Economy Bank (BEFI) starting Aug. 8 due to the AGM that will be held on Aug. 13 to discuss and approve 2023 annual financial statements and dividend distribution.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 18th July 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

• Financial Results Announced on July 18: 6M24: BMNS, BIDB, BRTB, IICM.

   Al-Mansour Bank (BMNS): Net profit increased by 17% q/q to IQD27.1 bn in 2Q24 due to the increase in net FX income, net interest and net commission income. Assets increased 22% q/q to IQD1.7 trln at end-6M24 mainly due to the growth in customers' deposits by 17% q/q to IQD886.9 bn and margin accounts by 40% q/q to IQD309.5 bn. Net direct credit facilities grew by 2% q/q IQD196.2 bn and net financial investments stayed stable at IQD147.7 bn. Cash & balances: IQD1.3 trln, +30% q/q. 6M24: Net profit considerably increased by 281% y/y to IQD50.1 bn in 6M24 mainly due to the increase in net commission income and net FX income.

International Development Bank (BIDB): Profit before tax grew by 28% q/q to IQD34.5 bn in 2Q24 mainly due to the increase in banking operating revenues. Assets increased 22% q/q to IQD3.2 trln at end-6M24 mainly due to the growth in current accounts & deposits by 24% q/q to IQD2.4 trln. Monetary credits increased 2% q/q to IQD1.0 trln. Cash: IQD1.8 trln, +58% q/q. 6M24: Profit before tax significantly increased by 101% y/y to IQD61.3 bn in 6M24 mainly due to the increase in banking operating revenues.

   Region Trade Bank (BRTB): Profit before tax fell by 30% q/q to IQD8.5 bn in 2Q24 mainly due to the increase in transferred & other expenses. Assets decreased 10% q/q to IQD1.0 trln at end-6M24 mainly due to the decrease in current accounts & deposits by 20% q/q to IQD485.2 bn. Monetary credits decreased 6% q/q to IQD65.4 bn. Cash and balances: IQD599.9 bn, -17% q/q. 6M24: Profit before tax increased by 22% y/y to IQD20.5 bn in 6M24 mainly due to the decline in transferred & other expenses and administrative expenses.

   Iraqi Carton Manufacturies (IICM): Total revenues increased 546% y/y to IQD866.7 mn in 2Q24. The company turned from IQD156.4 mn loss in 2Q23 into IQD577.8 mn profit before tax in 2Q24. 6M24: The company turned from IQD305.5 mn loss in 6M23 into IQD386.3 mn profit before tax in 6M24.

• Iraqi For Tufted Carpets (IITC) resumed trading on Jul. 18 after holding its AGM on Jul. 14 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD0.8 cash dividend per share, corresponding to a 5.3% dividend yield.
• ISX suspended trading of National Chemical & Plastic Industries (INCP) starting Jul. 18 due to the AGM that will be held on Jul. 23 to discuss and approve 2022 annual financial statements.
• Zain Al-Iraq Islamic Bank (BZII), Ameen Al-Iraq Islamic Bank (BAME), and Babil Animal & Vegetable Production (ABAP) will resume trading on Jul. 21 after fulfilling ISC's request and publishing its 3M24 financial statements.
• ISX will suspend trading of Dar Al-Salam for Insurance (NDSA) starting Sep. 3 due to the AGM that will be held on Sep. 8 to discuss and approve 2023 annual financial statements and dividend distribution.

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