The Central Bank of Iraq announced that it intends to raise national bonds nominal value of one trillion dinars [less than one billion dollars] at an interest rate of 8%.
The Director of the Information Office of the Bank, Acer Jabbar said in a statement received by the agency of all Iraq [where] a copy of it, “The Central Bank of Iraq is determined to put national bonds, a second issue on behalf of the Ministry of Finance issued with five categories: 100 thousand dinars, 25 thousand Dinars, 500 thousand dinars, one million dinars, five million dinars, amount of one trillion dinars.”
He added that “the bonds will be sold at an interest rate of 8% per annum in annual coupons for two years starting from 2/4/2017 in nominal value and payable by the Ministry of Finance on 2/4/2019.
Jabbar pointed out that “banks and citizens can submit all purchase orders to the Central Bank directly with a colored copy of the civil ID,” pointing out that “these bonds can be used as collateral for loans, facilities or any transactions requiring collateral, Iraq Stock Exchange for sale and purchase”.
Trade Bank of Iraq announced that certificate of deposit launched in a week reaching amounts to one billion and 106 million dinars is expected to double the amount near April 1st, economist welcomed the move to employ money projects this step in development counted.
General Manager of the bank Alheims Faisal said that the aim of this product is to attract banking of large liquidity in homes to the banks in order to invest and to encourage citizens to save and restore confidence between citizens and banks.
He added that this certificate launched with the approval and blessing of the Iraqi Central Bank and is guaranteed payment at the moment of the citizen request to withdraw amounts.
For his part the Iraqi Central Bank adviser Walid Idi praised significant efforts of the Trade Bank of Iraq durability of confidence won by the external levels and procedure, the central bank takes care aimed at the diversification of banking services that serve the citizen.
Member of Baghdad Economic forum Hadi Hndas said: this approach would raise the citizen ‘s confidence in banks and contribute effectively in the transfer of funds from the houses to the banking system, especially that Iraq is in dire need of activating the internal capital cycle and make the labor market intervention and this requires real efforts aimed at creating new products solidified the relationship between the citizen and the banks.
Pointed that “the Trade Bank of Iraq, offered up to now (2195) certificates, in cities across the country, “noting that” the bank has monthly and annual prizes, monthly award (10 million dinars), while the semi-annual prize to (40 million dinars), while the annual award of up to (100 million dinars), “pointing out that” the drawing is on April 4th, according to the serial number of the certificate. ”
He stressed the need to find a new legislation guaranteeing the rights of depositors and contribute to attract capital to the field of employment through banks.
Central Bank announced on Wednesday the possibility of issuing Islamic bonds in June after the completion of the technical aspects of it is released, pointing out that part of its strategy to diversify Islamic tools and the most important instruments in accordance with Islamic law, which are wishes of a large segment of society.
According to director of financial operations at the central bank Mahmoud Mohamed in a statement seen by Economy News, this is a certified orientation in various countries around the world and adoption by major banks in Britain, Malaysia and other important economic blocs, adding that in Malaysia the value of Islamic instruments up to 3 trillion dollars and is working to the financing of major projects in that country.
He also explained that the central bank completed a kind of Islamic certificates of deposit issued during June, confirming that it is guaranteed and the degree of risk zero percent and is working to attract large cluster of cash to the banking sector and investment in order to achieve viability.
He pointed out that Islamic bonds issued in accordance with the law combining stocks and the bonds.
Incorporated banks and financial companies shares in the Iraq Stock Exchange increasing the number of listed companies in the market to 100 companies.
The executive director of the market, Taha Ahmed Abdul Salam said in a statement received by all of Iraq [where] a copy of it today that “the Securities Commission Governors of the Iraq Stock Exchange Council approved resolutions at the inclusion of three companies after the completion listing requirements, noting that the Iraqi market Securities obtaining international number [ISIN] for each company trading for the purpose of opening statements on electronic systems for trading and central depository stations.”
He said “The three companies are [Ceyhan Islamic Bank for Investment and Finance, the Bank of the Islamic world for investment and funding, the United fiscal transfer],” adding that “other joint-stock companies being followed up for inclusion in the coming months in collaboration with the Iraqi Central Bank and the Securities Commission before the board of Governors.”
He said “these three companies complete listing requirements and deposit of the register of shareholders for the purpose of approving the launch of trading in its shares on the market by the shareholders and investors, stressing that companies will be listed on the Iraq Stock Exchange upon registration and deposit is completed by these companies”.
Executive Director of the market, Taha Ahmed Abdul Salam said that «Iraq Stock Exchange indices during the month of February has achieved a rise in the number of shares traded increased by 90%, a rise in the value of shares traded increased by 67%, a rise in the market price index of traded shares increased by 3.17% and also rise in value market by 1.8%», indicating that «the number of transactions for the month of February decreased by 29%».
He added that «market systems in the month of February to 20 trading session at the rate of 5 sessions per week and the number of companies traded shares on the market 66 companies out of 97 companies listed in the market».
Abdul Salam pointed out that the number of shares traded during the month of February amounted to 223 billion shares worth 134 billion dinars and the stocks listed on the market amounted to 9.734 trillion shares classified by sector.»
The Iraq Stock Exchange has used the electronic trading and central depository systems since 2009, seeks to launch a trading system via the Internet to investors in the first quarter of 2017, it regulates the week of Sunday trading sessions to Thursday, is listed as 97 Iraqi joint stock company represents banks and telecommunications sectors and industry, agriculture, insurance, financial investment, tourism and hotels.
Iraq Stock Exchange recorded a rise in the number of shares traded in the market at rates exceeding 308% over the past week compared per week before.
The executive director of the market Taha Ahmed Abdul Salam received all of Iraq [where] a copy of it, said that “the Iraq Stock Exchange systems during the week ending on the sixteenth of February in five sessions of trading in the formal market and five sessions in the second market.”
He added that “the number of listed companies in the market amounted to  joint-stock company, including  companies listed in the formal market and the 27 companies listed in the second market traded during last week, shares of 53 companies in the formal market, and 4 companies in the second market.”
Abdel Salam reveal “The number of companies suspended from trading for failing to submit annual and quarterly disclosure of the body and the market was during the last week,  while the number of company shares listed on the market amounted to [9.584] trillion shares.”
He stressed that the “number of shares traded last week 144 billion shares, compared with 35 billion shares for the week before while the value of shares traded last week 72 billion dinars, compared to 31 billion dinars for the week before and the number of transactions executed last week was  compared to  for the week before and the market index ISX 60 closed last session of the week [712.19] points.”
Abdul Salam said that “It is the trading data analysis of last week’s note that the number of shares traded last week increased by [308.97%] compared per week, which was accepted and also the total value of shares traded rose last week by [130.17%] compared per week, which was accepted and also record the market rise in ISX 60 market index by [0.05%] for last week close, the week before closed at [711.80] points.”
Iraq Stock Exchange confirmed that trading indicators have jumped 50% after using the electronic system, pointing out that the current year will see the launch of trading via the Internet.
The executive director of the market Abdel Salam in a press statement followed, he said that in previous years after 2003 deal in the market is the manual trading, but after the introduction of modern electronic systems, there has become a large and significant progress in the process of trading in the market.
Trading indicators jumped 50% after using the electronic system, pointing out that this rise reflected positively on the volume and value of shares in the Iraq Stock Exchange.
Abdul Salam confirmed that the current year will see the launch of trading via the Internet, noting that the launch will allow the investor trading on the shareholding companies, bonds and any listed securities in the market through this system and via the Internet, like any investor, trading in the market hall as well as the organization of all financial settlements and equity in accordance with the procedures and instructions of prevailing market.