Baghdad and Muscat sign a memorandum of understanding for securities

  • 13-05-2022, 22:30
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    Baghdad - INA 

     The Iraqi Securities Authority announced today, Friday, the signing of a memorandum of understanding with the Muscat Securities Exchange. 

     A statement by the authority, received by the Iraqi News Agency (INA), stated that "the Iraqi Securities Authority, represented by its Chairman Hassan Hammoud Al-Akaili, participated in the sixteenth annual meeting of the Federation of the Arab Securities Authority in Muscat / Sultanate of Oman, to cooperate in the development of Arab financial markets by upgrading aspects legislative and regulatory.

    The statement added, "In the same context, the Iraq Stock Exchange, represented by the Chairman of the Board of Governors, Thaer Al-Mukhtar, and in the presence of the Chairman of the Securities Authority, Hassan Hammoud Al-Akaili, the expert Executive Director Taha Ahmed Abdel Salam, and the Iraqi Embassy in Muscat / Oman, signed a memorandum of understanding with the Muscat Securities Exchange represented by the President Executive Director Haitham Al-Salmi, in the presence of the CEO of Muscat Clearing Company and a number of board members, with the aim of developing relations and enhancing cooperation between the two parties in the following areas.

    1. Enhancing the efficiency of the financial markets through exchanging experiences, information and advisory services related to the trading of securities.
    2. Facilitate the participation of mediators in training and development programs. 
    3. Harmonization of listing requirements - and the promotion of joint and reciprocal listing.
    4. Setting the basic rules for the development of indicators. 
    5. Developing sustainability, environmental, social and corporate governance between the two parties.
    6. Examine ways of cooperation in the field of educating and educating investors about the financial markets.
    7. Cooperation in any other areas that would develop the activity.
    The statement continued, "The Iraqi Securities Commission and the Iraq Stock Exchange had implemented a strategy during the year 2022 that depends on cooperation with Arab financial markets, developing the activity of brokerage companies, raising the capabilities of brokers in dealings with investors, financial and information analysis, following up on companies' disclosure, and returning joint stock companies to circulation in cooperation with sectoral authorities. ".