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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 13th March 2026

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

Note: ISX will be closed on Mar. 16, 2026 (Monday) due to a public holiday. The next trading session will be held on Mar. 17, 2026 (Tuesday).

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(1) Excluding OTC market

Iraq Stock Exchange

• The ISC has approved the request of Ashur International Bank (BASH) to have a one-month extension period to add the new shares from the capital increase through a 20.0% bonus issue to IQD300.0 bn starting from Mar. 2, 2026.
• Kirkuk Company for Producing Constructional Materials (IKFP) (OTC) will hold its AGM on Mar. 14 to discuss and approve 2012 until 2018 annual financial statements and increasing the paid-in capital from IQD744.0 mn to IQD2.976 bn through a 300.0% rights issue.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of International Development Bank (BIDB) starting Mar. 8 due to the AGM that will be held on Mar. 11 to discuss and approve electing two original and two alternative board members.
• ISX suspended trading of Al-Mansour Bank (BMNS) starting Mar. 11 due to the AGM that will be held on Mar. 17 to discuss and approve 2025 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD445.0 bn to IQD585.0 bn through a 31.46% bonus issue.
• ISX suspended trading of Al-Ameen Insurance (NAME) starting Mar. 12 due to the AGM that will be held on Mar. 18 to discuss and approve the 2025 financial statements, dividend distribution, increase the paid-in capital from IQD6.25 bn to IQD7 bn through a 12.0% bonus issue, and opening branches for the company in different provinces

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 5th March 2026).

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Weekly News from Iraq

Iraq Stock Exchange

• The Iraq Stock Exchange (ISX) announced that, effective March 1, 2026, the daily price fluctuation limit for listed shares will be set at ?5%, in light of the current conditions related to regional developments and with the aim of enhancing market stability and limiting sharp fluctuations in share prices. The new limit will apply to all listed companies across all markets in accordance with the approved percentage thresholds, unless otherwise specified by a special provision.
• A cross transaction occurred on 789.5 mn shares of The Iraqi Company for Deposit Insurance (FIDI) (OTC) on Mar. 3 valued at IQD789.5 mn and corresponding to 0.8% of FIDI's capital.
• Fitch Ratings has affirmed Al-Mansour Bank (BMNS) Long-Term Issuer Default Rating (IDR) at 'B-' with a Stable Outlook and its Viability Rating (VR) at 'ccc+'. (FitchRatings)
• Fitch Ratings has affirmed Iraqi Islamic Bank (BIIB) Long-Term Issuer Default Rating (IDR) at 'CCC+' and Viability Rating (VR) at 'ccc+'. (FitchRatings)
• Fitch Ratings has affirmed Region Trade Bank (BRTB) Long-Term Issuer Default Rating (IDR) at 'CCC+' and Viability Rating (VR) at 'ccc+'. (FitchRatings)

Stocks that were suspended / will be suspended from trading:

• ISX will suspend trading of International Development Bank (BIDB) starting Mar. 8 due to the AGM that will be held on Mar. 11 to discuss and approve electing two original and two alternative board members.
• ISX will suspend trading of Al-Ameen Insurance (NAME) starting Mar. 12 due to the AGM that will be held on Mar. 18 to discuss and approve the 2025 financial statements, dividend distribution, increase the paid-in capital from IQD6.25 bn to IQD7 bn through a 12.0% bonus issue, and opening branches for the company in different provinces.
• ISX will suspend trading of Al-Mansour Hotels (HMAN) starting Mar. 19 due to the AGM that will be held on Mar. 25 to discuss and approve the 2024 financial statements, dividend distribution, increasing the paid-in capital from IQD2.923 bn to IQD3.0 bn through a 2.6% bonus issue, and electing five original and five alternative board members.

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By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

The Iraqi Dinar Caught in the Crossfire: What a Trump-Iran Military Conflict Would Mean for Iraq's Currency

The Middle East is once again on the edge. The United States has assembled its largest concentration of naval and air power in the region since the 2003 invasion of Iraq, two carrier strike groups, dozens of warships, and hundreds of warplanes now positioned within striking distance of Iran.

Negotiations between Trump's envoy Steve Witkoff and Iranian officials in Geneva have reportedly yielded "significant progress", but the ultimate outcome may hinge on whether Iran is prepared to offer concessions significant enough for Trump to call a victory. With diplomacy fragile and military options on the table, one often-overlooked casualty of any escalation would be Iraq's currency, the dinar.

Iraq: The Battlefield Between Two Worlds

To understand what a US-Iran military conflict would do to the Iraqi dinar, you have to first understand Iraq's precarious geopolitical position. The country is simultaneously a close security partner of the United States and an economy deeply enmeshed with Iran. Iraq spends roughly $900 million monthly on Iranian goods, a major portion of this historically going to electricity and gas. Iranian-backed militias are embedded within Iraq's state institutions. US troops remain on Iraqi soil. Iraq's government walks a tightrope between US alliance and Iranian influence, and its currency walks the same tightrope with it.

The Iraqi dinar's journey has been one of the most dramatic in monetary history. The currency dropped substantially from 3 IQD per USD before 1991 to about 1,310 IQD per USD today. Decades of war, sanctions, and corruption have slowly eroded its value. In recent years, Iraq has made modest progress: the International Monetary Fund (IMF) has provided structural guidance, oil revenues have been strong, and the Central Bank of Iraq (CBI) has maintained a managed peg to the dollar. Iraq's position as OPEC's second-largest oil producer and strong international support drive steady economic improvements. But all of that relative stability would face severe pressure the moment US bombs begin falling on Iranian soil.

Scenario One: A Limited Strike

The most likely immediate military scenario, and the one that has been most openly discussed in Washington, involves a targeted, time-limited campaign against Iranian military and nuclear infrastructure. Trump may order a targeted attack on select military sites inside Iran to pressure the country's leaders into agreeing to an acceptable deal, demonstrating US threats of action are real. The targets could include ballistic missile sites, facilities connected to Iran's nuclear program, or buildings used by the Islamic Revolutionary Guard Corps.

In this scenario, the Iraqi dinar's fate would be shaped by several competing forces. On one hand, oil prices would almost certainly spike, and for Iraq, higher oil prices are a lifeline. Iraq's state budget is overwhelmingly dependent on petroleum revenues, and a sudden surge in global crude prices triggered by conflict fears would, in theory, fill state coffers. A better-funded government can defend its exchange rate more effectively.

On the other hand, a limited strike would almost certainly trigger Iranian retaliation, and Iraq would be squarely in the blast radius. Iran's kinetic retaliation plan relies on a reconstituted arsenal of over 3,000 ballistic missiles capable of striking US bases and allied territory across the region, and many of those bases are in Iraq. US embassies in Iraq and other Arab states began to evacuate personnel in response to Iranian threats on American bases as far back as the lead-up to last year's Operation Midnight Hammer. Iranian-backed Iraqi militias like Kataib Hezbollah have already issued explicit warnings: leader Ahmad al-Hamidawi warned that any strike on Iranian soil would trigger a "total war" involving militias across the Levant.

For the dinar, this translates to a severe confidence crisis. When violence erupts on Iraqi soil, even if Iraq is not the primary combatant, foreign capital flees, domestic savers rush to convert dinars to dollars, and the black market premium widens dramatically. The Central Bank of Iraq, which sells dollars at auction to defend its peg, would come under enormous pressure. Its foreign exchange reserves, while substantial, are not unlimited, and a sustained capital flight could force a de facto devaluation.

Scenario Two: Sustained Military Campaign or Regime Change

Current contingency planning in the Pentagon is configured for sustained, weeks-long operations against Iran if so ordered by Trump. A broader campaign aimed at degrading Iran's military capacity, or worse, one that tips into regime change, would represent a qualitatively different shock to the Iraqi economy.

Iraq's energy dependence on Iran is the most acute vulnerability. If war disrupts those supply lines, through Iranian cut-offs, infrastructure damage, or US sanctions enforcement, Iraqi power grids would come under renewed pressure. Blackouts would damage industry, commerce, and ordinary life. Economic output would contract sharply, and the government's ability to pay civil servant salaries and maintain social order would erode. In such conditions, the dinar would face significant downward pressure regardless of what the oil price is doing.

There is also the migration and refugee dimension. A major war with Iran, a country of over 90 million people, could produce refugee flows that would dwarf anything the region has seen since 2003. Iraq, which shares a long border with Iran and already hosts displaced populations from earlier conflicts, would be on the front lines of that humanitarian wave. The fiscal and social cost could be immense.

For currency markets, the historical parallel is instructive. During the 2003 US invasion of Iraq itself, Iraqi currency markets experienced extreme dislocations. Capital flight, hoarding of hard currency, and the collapse of normal economic activity all preceded any formal devaluation. A war next door, one that also engulfs Iraqi militias and potentially Iraqi territory, could produce similar dynamics even without Iraq being the primary target.

The Oil Price Paradox

One of the most important, and often misunderstood, dynamics in this scenario is the double-edged nature of oil prices. A major US-Iran conflict would almost certainly send crude prices sharply higher, at least initially. Iran is a significant oil producer, and any conflict that threatens the Strait of Hormuz, through which roughly 20% of the world's oil supply passes, would trigger immediate panic buying in global energy markets.

For Iraq, this creates a cruel paradox. Higher oil revenues would, in theory, improve the government's fiscal position and its ability to defend the dinar. But the same conflict that pushes oil prices up would simultaneously disrupt Iraq's own oil export infrastructure, close off Iranian energy imports that keep the lights on, trigger militia violence, scare away foreign investment, and force emergency spending on security. The net effect on the dinar would almost certainly be negative, as the costs outweigh the revenue windfall.

The Sanctions and Banking Dimension

Any escalation would also intensify the already complex sanctions environment that shapes how the Iraqi economy interfaces with the global financial system. The Trump administration focuses on selective sanctions against Iraqi banks while conditioning waivers for Iranian energy purchases. This policy could soon affect Iraq's economic partnerships and currency stability. Banks found to be facilitating Iranian transactions face being cut off from dollar-clearing networks, a potentially devastating punishment in an economy that relies so heavily on the greenback.

This creates a further squeeze on the dinar. If Iraqi banks are penalised for maintaining ties with Iran, ties that are partly economically necessary and partly politically unavoidable, the result is a fragmentation of Iraq's banking sector, reduced access to dollar liquidity, and a wider spread between the official and parallel exchange rates. Ordinary Iraqis, who already prefer to hold savings in US dollars rather than dinars, would accelerate that dollarisation, further undermining confidence in the local currency.

Historical Lessons: What 2003 Tells Us

The 2003 US invasion of Iraq offers a partial precedent, though the situations differ significantly. In the immediate aftermath of the invasion, the Iraqi currency market experienced extreme volatility. The old Saddam-era dinar was eventually replaced with a new currency, and a managed peg to the dollar was established. Over time, with massive oil revenues and international support, the new dinar stabilised.

But the early years of post-invasion Iraq were characterised by exactly the kind of dynamics a new conflict would recreate: capital flight, dollarisation, black market currency trading, and a gap between official and street exchange rates. The key difference now is that Iraq is not the direct target of military action, but it is the unavoidable collateral victim, geographically, economically, and politically sandwiched between the two combatants.

What Investors and Observers Should Watch

For those tracking the dinar, whether as currency speculators, businesses operating in Iraq, or observers of the wider regional economy, the key indicators to monitor are:

The Central Bank of Iraq's foreign exchange auction volumes and reserves. A sharp drop in reserves or a sudden suspension of dollar auctions would signal that the peg is under existential pressure. The spread between the official exchange rate and the parallel market rate. Historically, this spread widens during periods of political and security stress, and a significant widening would be an early warning of impending devaluation. The status of Iranian energy supplies to Iraq. If gas flows are disrupted and the lights go out, the economic fallout would be rapid and severe. And crucially, the behaviour of Iraq's Iranian-backed militias. If they activate in response to US strikes on Iran, Iraq would transition from bystander to active warzone, and the dinar would face its most serious crisis since 2003.

Conclusion: A Currency with No Good Options

The Iraqi dinar is, at its core, a hostage to forces far beyond Baghdad's control. Iraq's government has limited ability to insulate its currency from a major military confrontation between the United States and Iran, a conflict whose epicentre would be on its doorstep and whose shockwaves would run directly through its energy sector, banking system, and political fabric.

Administration officials have been unclear about what their objectives are as they confront Iran, and that uncertainty itself is a risk factor for the dinar. Markets hate ambiguity, and a conflict with no clear endgame is the worst of all possible scenarios for a currency already carrying the weight of decades of instability.

In the best case, a short, sharp military strike followed by a rapid return to negotiations, the dinar would likely suffer a temporary shock: a flight to dollars, a widening of the parallel market premium, and a drawdown of central bank reserves, but ultimately a manageable correction. In the worst case, a sustained campaign, militia activation across Iraq, energy supply disruption, and a regional war, the dinar would face its most severe test since the 2003 invasion. The outcome would depend not just on what the US military does to Iran, but on whether Iraq can remain a bystander in a war that, by its very geography, it cannot escape.

This article reflects the geopolitical and economic situation as of late February 2026. It does not constitute financial or investment advice.

For more information on the Iraqi dinar, check out IBN's Dinar Page here: https://www.iraq-businessnews.com/the-dinar-page/?swcfpc=1 

See also:

If Trump Strikes Iran: Mapping the Oil Disruption Scenarios

Dinar Weakness: CBI "Not Responsible"

Iraqi Banks Restricted from US Dollar Transactions: FULL LIST [Amended]

2026: The Year Iraqi Dinar Speculators Finally Strike Gold?

Dinar Explainer 1: Why Iraq has Two Exchange Rates

Donald Trump and the "Great Iraqi Dinar Revaluation"

(Picture: The U.S. Navy aircraft carrier USS Gerald R. Ford (CVN-78), currently on route to the region).

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 26th February 2026.

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

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 Top 5 Gainers - Weekly

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Iraq Stock Exchange

• The Central Bank of Iraq (CBI) has announced updated lists of banks and companies prohibited from dealing in US dollars as part of its ongoing banking sector reform initiative. According to the new update, International Development Bank (BIDB) was added to the list on May 11, 2025. (CBI)
• The Kurdistan Regional Government announced the official joining of the Iraqi Islamic Bank (BIIB) to the national electronic payment project "e-Pswla," a move aimed at facilitating electricity bill payments for citizens and promoting digital transformation. (Bas News)
• Babylon Hotel (HBAY) invited its shareholders to receive their cash dividends for the fiscal year 2023 & 2024 at the company's hotel. The company decided in its recent AGM (Dec. 24, 2025) to distribute IQD6.5 cash dividend per share, corresponding to a 6.5% dividend yield.
• ISX suspended trading of Hammurabi Commercial Bank (BHAM) (OTC) starting Feb. 25 due to the AGM that will be held on Feb. 25 to discuss and approve increasing the paid-in capital from IQD201.0 bn to IQD267.3 bn through a 32.985% rights issue, and selecting the path for continuing to carry out banking activities according to what is stated within the Banking Reform Document. The company resumed trading on Feb. 26.
• Iraqi Carton Manufacturies (IICM) fulfilled ISX's request to explain why the prices touched the lower limit on Feb. 18 and Feb. 19. The company disclosed that there were no fundamental events or new matters that affected the price of the shares.
• Elaf Islamic Bank (BELF) fulfilled ISX's request to explain why the prices touched the higher limit on Feb. 23 and Feb. 24. The company disclosed that there were no fundamental events or new matters that affected the price of the shares.
• Electronic Industries (IELI) fulfilled ISX's request to explain why the prices touched the lower limit on Feb. 23 and Feb. 24. The company disclosed that there were no fundamental events or new matters that affected the price of the shares.
• The International Development Bank (BIDB) announced the launch of three new financial and investment products targeting investors, entrepreneurs, startups, and small and medium-sized enterprises (SMEs). The bank says this initiative aims to enhance liquidity, stimulate economic growth, and empower the private sector through flexible solutions with competitive returns. (Shafaq News)

Stocks that were suspended / will be suspended from trading:

• ISX will suspend trading of Al-Mansour Bank (BMNS) starting Mar. 11 due to the AGM that will be held on Mar. 17 to discuss and approve 2025 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD445.0 bn to IQD585.0 bn through a 31.46% bonus issue.
• ISX will suspend trading of Electronic Industries (IELI) starting Mar. 26 due to the AGM that will be held on Mar. 31 to discuss and approve the 2020 annual financial statements.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 19th February 2026.

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Iraq Stock Exchange

• Fitch Ratings has affirmed Trade Bank of Iraq's (TBI) Long-Term Issuer Default Rating (IDR) at 'CCC+' and its Government Support Rating (GSR) at 'ccc+'. (FitchRatings)
• The location of the General Administration of Al-Mansour Bank (BMNS) has changed by moving to the new building owned by the bank, which is located in Baghdad - Mansour - Abu Jaafar Al-Mansour Street, as of Feb. 15, 2026.
• ISX suspended trading of Al-Badia Insurance Company (NBAD) (OTC) starting Feb. 15 due to the AGM that will be held on Feb. 15 to discuss and approve electing five original and five alternative board members. The company resumed trading on Feb. 16.
• ISX requested Iraqi Carton Manufacturies (IICM) to explain why the prices touched the lower limit on Feb. 18 and Feb. 19.

Stocks that resumed / will resume trading:

• Rajih Islamic Bank for Investment (BRAJ) resumed trading on Feb. 15, 2026, after holding its AGM on Dec. 31, 2025, in which they discussed and approved 2024 annual financial statements, the banking sector reform, and chose the merger path, and decided to distribute IQD0.0464 cash dividend per share, corresponding to a 4.6% dividend yield.
• Middle East Producing & Marketing - Fish (AMEF) resumed trading on Feb. 15 after holding its postponed AGM on Feb. 8, in which they discussed and approved the ending Mar. 31, 2025, annual financial statements.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 12th February 2026.

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Iraq Stock Exchange

• Economy Bank (BEFI) decided to extend the subscription on 39.1 bn shares for another 60 days starting Feb. 10, due to the incomplete subscription of the full amount during the first 60 days.
• The ISC has approved the request of United Bank (BUND) to have a four-month extension period to add the new shares from the capital increase through a 16.67% rights issue to IQD350.0 bn starting from Jan. 26, 2026.

Stocks that resumed / will resume trading:

• Iraqi Carton Manufacturies (IICM) was moved to the Undisclosed Companies Market (UCM) and resumed trading on Feb. 9.
• Rajih Islamic Bank for Investment (BRAJ) will resume trading on Feb. 15, 2026 after holding its AGM on Dec. 31, 2025 in which they discussed and approved 2024 annual financial statements, the banking sector reform and chose the merger path, and decided to distribute IQD0.0464 cash dividend per share, corresponding to a 4.6% dividend yield. The opening price will be IQD0.950 per share.
• Middle East Producing & Marketing - Fish (AMEF) will resume trading on Feb. 15 after holding its postponed AGM on Feb. 8, in which they discussed and approved the ending Mar. 31, 2025, annual financial statements.

Stocks that were suspended / will be suspended from trading:

• ISX will suspend trading of Al-Badia Insurance Company (NBAD) (OTC) starting Feb. 15 due to the AGM that will be held on Feb. 15 to discuss and approve electing five original and five alternative board members. The company will resume trading on Feb. 16.
• ISX will suspend trading of Hammurabi Commercial Bank (BHAM) (OTC) starting Feb. 25 due to the AGM that will be held on Feb. 25 to discuss and approve increasing the paid-in capital from IQD201.0 bn to IQD267.3 bn through a 32.985% rights issue, and selecting the path for continuing to carry out banking activities according to what is stated within the Banking Reform Document. The company will resume trading on Feb. 26.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 5th February 2026.

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Iraq Stock Exchange

• Bain Alnahrain Investment (VMES), a private shareholding company, submitted the AGM minutes dated December 3, 2025, approving the company's liquidation in accordance with Article (158) of the Companies Law No. (21) of 1997, as amended, and appointing Mr. Ayman Hussein Sakhi and Ms. Duha Yassin Nouri as liquidators, granting them the necessary financial, legal, and administrative powers to conduct the liquidation process.
• The ISC approved the request of Fallujah for Construction Materials (IFCM) for an additional extension period of 1 year to submit its 2025 annual financial statements.
• ISX suspended trading of the first issuance of national bonds (the categories of 500,000 & 1,000,000 dinars) starting from Feb. 5, 2026, due to distributing semi-annual coupon. The bonds will resume trading on Feb. 11, 2026.

Stocks that resumed / will resume trading:

• Original shares of Mosul Bank (BMFI) resumed trading on Feb. 3, 2026 after holding its AGM on Dec. 31, 2025, in which they discussed and approved 2023 & 2024 annual financial statements, choosing the path of continuing as an independent bank to implement the requirements of the banking reform plan, and increasing the paid-in capital from IQD252.5 bn to IQD300.0 bn through a 7.92% rights issue and a 10.89% bonus issue.
• Al-Qurtas Islamic Bank (BQUR) resumed trading on Feb. 3 after holding its AGM on Jan. 17, in which they discussed and approved 2023 & 2024 annual financial statements, banking sector reform project, and the decision to merge with an Iraqi or foreign bank or a foreign investor, and electing seven original and seven alternative board members.
• Erbil Bank for Investment & Finance (BERI) resumed trading on Feb. 3, 2026, after holding its AGM on Dec. 26, 2025, in which they discussed and approved CBI's letter No. 9/4/296 dated August 28, 2025, which includes the draft reform plan for the private banking sector, to determine the reform path (merger).

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 29th January 2026.

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Iraq Stock Exchange

• Bank of Baghdad (BBOB) announced that some media platforms and social media websites circulated news and inaccurate information related to BBOB. The Bank affirms that what is being mentioned in this context is completely untrue and is not based on any official or reliable sources or data. It should be noted that BBOB had previously categorically denied this news at an earlier time through its official channels. BBOB confirms its full commitment to the highest standards of compliance and governance, and its constant keenness to adhere to all laws and instructions issued by local and international supervisory authorities, in a manner that ensures the safety of banking operations and the protection of the financial system. The BBOB also calls on all media outlets and social media users to exercise accuracy and to obtain information from its official and approved sources, and to avoid circulating unconfirmed news due to its negative impact on public opinion and the banking sector. (According to an unverified article on Alsumaria citing the Eco-Iraq Observatory, the US Treasury's Office of Foreign Assets Control (OFAC) is claimed to have sent an inquiry to the Central Bank of Iraq concerning certain deposits allegedly linked to oil smuggling activities at Bank of Baghdad (Source: Alsumaria, 554384).)
• Al-Hamraa for Insurance (NHAM) fulfilled ISX's request to explain why the prices touched the higher limit on Jan. 21 and Jan. 22. The company disclosed that the fundamental events that occurred are that the company's revenues have recorded an increase up to the third quarter of last year and will continue to increase until the end of this year.

Stocks that resumed / will resume trading:

• New shares of Palestine Hotel (HPAL) from the capital increase to IQD5.0 bn through an 11.857% bonus issue resumed trading on Jan. 27.
• Original shares of Ashur International Bank (BASH) resumed trading on Jan. 29 after holding its AGM on Jan. 19 in which they discussed and approved 2023 & 2024 annual financial statements, choosing the path of continuing as an independent bank to implement the requirements of the banking reform plan, increasing the paid-in capital from IQD250.0 bn to IQD300.0 bn through a 20.0% bonus issue, and electing 9 original and 9 alternative board members.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Iraqi Carton Manufacturies (IICM) starting Jan. 25 for not submitting its 2023 annual financial statements.
• ISX suspended trading of Middle East Producing & Marketing - Fish (AMEF) starting Jan. 27 due to the AGM that will be held on Feb. 1 to discuss and approve the ending Mar. 31, 2025, annual financial statements.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 22nd January 2026.

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 Top 5 Gainers - Weekly

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Iraq Stock Exchange

• The Chairman of the Iraqi Securities Commission (ISC) announced the launch of the Commission's 2026-2028 strategy, which aims to develop and enhance the efficiency of the Iraqi capital market, thereby contributing to supporting the national economy and creating a stable and secure investment environment in line with international standards and best practices. He noted that the Commission is working to strengthen its international standing by fulfilling the requirements for signing an MoU with the International Organization of Securities Commissions (IOSCO), paving the way for transitioning from associate to full membership and ensuring compliance with international regulatory and supervisory standards. (ISC)
• Modern Construction Materials Industry (IMCM) fulfilled ISX's request to explain why the prices touched the higher limit on Jan. 18 and Jan. 19. The company disclosed that there were no fundamental events or new matters that affected the price of the shares.
• The second issuance of Enjaz bonds (the categories of 500,000 & 1,000,000 dinars) resumed trading on Jan. 21, 2026.
• ISX requested Al-Hamraa for Insurance (NHAM) to explain why the prices touched the higher limit on Jan. 21 and Jan. 22.

Stocks that resumed / will resume trading:

• AHliya For Insurance (NAHF) resumed trading on Jan. 18, 2026 after holding its AGM on Dec. 31, 2025 in which they discussed a potential increase in the paid-in capital from IQD9.0 bn to IQD19.0 bn through a 111.11% rights issue. NAHF decided not to proceed with the capital increase at this stage, citing no current need for additional capital.
• Palestine Hotel (HPAL) resumed trading on Jan. 19 after fulfilling ISX's request to explain why the prices touched the lower limit on Jan. 13 and Jan. 14. The company disclosed that there were no fundamental events or new matters that affected the price of the shares.
• Al-Hamraa for Insurance (NHAM) resumed trading on Jan. 20 after fulfilling ISX's request to explain why the prices touched the higher limit on Jan. 13 and Jan. 18. The company disclosed that the fundamental events that occurred are that the company's revenues have recorded an increase up to the third quarter of last year and will continue to increase until the end of this year.

Stocks that were suspended / will be suspended from trading:

• ISX will suspend trading of Middle East Producing & Marketing - Fish (AMEF) starting Jan. 27 due to the AGM that will be held on Feb. 1 to discuss and approve the ending Mar. 31, 2025, annual financial statements.
• ISX will suspend trading of Iraqi Carton Manufacturies (IICM) starting Jan. 25 for not submitting its 2023 annual financial statements.

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Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 15th January 2026.

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Weekly News from Iraq

Iraq Stock Exchange

• Palestine Hotel (HPAL) has completed the legal procedures for the capital increase through a 11.857% bonus issue to IQD5.0 bn.
• ISX suspended trading of the second issuance of Enjaz bonds (the categories of 500,000 & 1,000,000 dinars) starting from Jan. 14, 2026, due to distributing semi-annual coupon.
• ISX requested Palestine Hotel (HPAL) to explain why the prices touched the lower limit on Jan. 13 and Jan. 14.

Stocks that resumed / will resume trading:

• New shares of AL- Kindi of Veterinary Vaccines Drugs (IKLV) from the capital increase to IQD6.33 bn through a 6.57% bonus issue resumed trading on Jan. 12.
• National Islamic Bank (BNAI) resumed trading on Jan. 13 after holding its AGM on Jan. 5, in which they discussed and approved the continuation of operating under the current license and the same legal entity, while meeting the reform standards within the banking sector reform plan project.
• Al-Mansour Pharmaceuticals Industries (IMAP) resumed trading on Jan. 14 after holding its AGM on Jan. 11, in which they discussed and approved electing seven original and three alternative board members.
• AHliya For Insurance (NAHF) will resume trading on Jan. 18, 2026 after holding its AGM on Dec. 31, 2025 in which they discussed increasing the paid-in capital from IQD9.0 bn to IQD19.0 bn through a 111.11% rights issue. NAHF has decided not to increase the company's capital at the present time because the company does not need this increase.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Al-Qurtas Islamic Bank (BQUR) starting Jan. 13 due to the AGM that will be held on Jan. 17 to discuss and approve 2023 & 2024 annual financial statements, banking reform plan, and electing seven original and seven alternative board members.
• ISX suspended trading of Ashur International Bank (BASH) starting Jan. 14 due to the AGM that will be held on Jan. 19 to discuss and approve 2023 & 2024 annual financial statements, dividend distribution, banking reform plan, increasing the paid-in capital from IQD250.0 bn to IQD300.0 bn through a 20.0% bonus issue, and electing nine original and nine alternative board members.

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