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Note: ISX will be closed starting from Sep. 1, 2017 to Sep. 5, 2017 due to the religious holiday of Eid Al-Adha. The next session will be held on Wednesday (Sep. 6, 2017).

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th Aug 2017).

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

The RSISX index ended the week at IQD784 (-0.7%) / $805 (-0.3%) (weekly change) (-18.3% and -15.0% YTD change, respectively). The number of week traded shares was 39.2bn and the weekly trading volume was IQD34.8bn ($27.4mn).

ISX Company Announcements

  • Al-Zawraa for Financial Investment (VZAF) will hold AGM* on Sept. 17, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of VZAF starting Sept. 12, 2017.
  • Original shares of Iraqi for Seed Production (AISP) will resume trading on Aug. 20, 2017 after approving 2016 annual financial results, increasing the capital from IQD7.5bn to IQD10.5bn through 40% bonus issue and deciding to distribute 40% cash dividend (IQD0.40 dividend per share, 5.6% dividend yield).
  • Ahliya for Insurance (NAHF) will hold AGM* on Aug. 28, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of NAHF starting Aug. 23, 2017.
  • Al-Nobles for Money Transfer (MTNO) will hold AGM* on Aug. 24, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of MTNO starting Aug. 21, 2017.
  • Ashur Bank (BASH) postponed its AGM* to Aug. 16, 2017 due to not completing the quorum on Aug. 9, 2017.
  • Fallujah for Construction Materials (IFCM) disclosed that it rehabilitated their site and brought back some employees to work on daily basis starting Apr. 2017. The company is working on to publish its financial results starting 2013. The company stated that it generated IQD71.2mn profit in 2013, corresponding to a 61% y/y decline. The company resumed its operations starting Jul. 1, 2017 and it is now preparing to offer all its services. The company also contacted a number of companies for investment and financing of its operations.
  • Two cross transactions occurred on 24.75bn shares of Al-Arabiya Islamic Bank (BAAI) on Aug. 13 and Aug. 14, 2017, which represent 9.9% of BAAI capital.
  • A cross transaction occurred on 5.5bn shares of Al-Noor for Money Transfer (MTNN) on Aug. 14, 2017, which represents 12.2% of MTNN capital. MTNN held AGM* on Aug. 17, 2017 to discuss and approve 2016 annual financial results. ISX suspended trading of MTNN starting Aug. 16, 2017.
  • A cross transaction occurred on 7.175bn shares of Al-Rabita Al-Maliya company (MTRA) on Aug. 16, 2017, which represents 7.2% of MTRA capital.
  • Iraqi Agricultural Products (AIRP) will hold AGM* on Aug. 21, 2017 to discuss and approve 2016 annual financial results and decide distributing 10% cash dividend (IQD0.10 dividend per share, 1.4% dividend yield). ISX suspended trading of AIRP starting on Aug. 16, 2017.
  • Mamoura Real-estate Investment (SMRI) disclosed the status of the subscription on the capital for the first 20 days. The subscription on the 2.88bn shares opened on Jul. 23, 2017. 2.56bn shares were subscribed and the remaining shares (0.32bn) are still available for subscription.
  • A number of shareholders submitted a complaint about United Bank (BUND) for the postponement of cash dividend distribution since 2014. According to the previous announcement, BUND will start distributing dividend from 2014 profit starting Oct. 1, 2017

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th Aug 2017).

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

The RSISX index ended the week at IQD790 (+1.5%) / $807 (+1.1%) (weekly change) (-17.7% and -14.8% YTD change, respectively). The number of week traded shares was 59.7bn and the weekly trading volume was IQD59.0bn ($46.6mn).

ISX Company Announcements

  • Iraqi Agricultural Products (AIRP) will hold AGM* on Aug. 21, 2017 to discuss and approve 2016 annual financial results and decide distributing 10% cash dividend (IQD0.10 dividend per share). ISX will suspend trading of AIRP starting Aug. 16, 2017.
  • Al-Ameen Insurance (NAME) will hold AGM* on Aug. 16, 2017 to discuss and approve 2016 annual financial results and increasing the capital from IQD3.41bn to IQD3.75bn through 10% bonus issue. ISX will suspend trading of NAME starting Aug. 13, 2017.
  • Iraqi for Tufted Carpets (IITC) will hold AGM* on Aug. 14, 2017 to discuss and approve 2016 annual financial results and decide to distribute 30% cash dividend (IQD0.30 dividend per share, 3.9% dividend yield). ISX suspended trading of IITC starting on Aug. 9, 2017.
  • Three cross transactions occurred on 35.25bn shares of Al-Arabiya Islamic Bank (BAAI) on Aug. 6, Aug. 7 and Aug. 8, 2017, which represent 14.1% of BAAI capital.
  • A cross transaction occurred on 20.6bn shares of Zain Al-Iraq Islamic Bank for Investment (BZII) on Aug. 7, 2017, which represents 8.24% of BZII capital.
  • Al-Nukhba for General Trading (SNUC) will hold AGM* on Aug. 13, 2017 to discuss and approve 2016 annual financial results. ISX suspended trading of SNUC starting on Aug. 8, 2017.
  • Iraqi Islamic Bank (BIIB) will hold AGM* on Aug. 12, 2017 to discuss and approve 2016 annual financial results and rehabilitating the branches in dangerous areas by using IQD44.2mn from its expansion reserves. ISX suspended trading of BIIB starting on Aug. 8, 2017.
  • Ashur International Bank (BASH) held a GA on Aug. 9, 2017 to elect a BoD. The bank was suspended from trading starting on Aug. 6, 2017 for not publishing 2016 annual financial results.

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd Aug 2017).

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

The RSISX index ended the week at IQD778 (+1.8%) / $798 (+1.8%) (weekly change) (-18.9% and -15.7% YTD change, respectively). The number of week traded shares was 30.9bn and the weekly trading volume was IQD29.6bn ($23.4mn).

ISX Company Announcements

  • Al-Ameen Insurance (NAME) will hold AGM* on Aug. 16, 2017 to discuss and approve 2016 annual financial results and increasing the capital from IQD3.41bn to IQD3.75bn through 10% bonus issue. ISX will suspend trading of NAME starting Aug. 13, 2017.
  • Iraqi for Tufted Carpets (IITC) will hold AGM* on Aug. 14, 2017 to discuss and approve 2016 annual financial results and decide to distribute 30% cash dividend (IQD0.30 dividend per share). ISX will suspend trading of IITC starting Aug. 9, 2017.
  • Iraqi Islamic Bank (BIIB) will hold AGM* on Aug. 12, 2017 to discuss and approve 2016 annual financial results and rehabilitating the branches in dangerous areas by using IQD44.2mn from its expansion reserves. ISX will suspend trading of BIIB starting Aug. 8, 2017.
  • Two cross transactions occurred on 24.15bn shares of Al-Arabiya Islamic Bank (BAAI) Aug. 1 and Aug. 2, 2017, which represent 9.7% of BAAI capital.
  • Commercial Bank of Iraq (BCOI) will hold AGM* on Aug. 8, 2017 to discuss and approve 2015 annual financial results and distribute 2.6% cash dividend (IQD0.026 dividend per share, 5.9% dividend yield). ISX suspended trading of BCOI starting Aug. 3, 2017.
  • Bain Al-Nahrain Investment (VMES) resumed trading on Aug. 3, 2017 after fulfilling ISC disclosure requirements and publishing 1Q17 financial results.
  • ISX will suspend trading of the following companies starting Aug. 6, 2017 for not fulfilling ISC disclosure requirements and publishing 2016 annual financial results: BIME, BMFI, BNOR, BUOI, BASH, BINT, HMAN, HBAG, HPAL, IICM, IELI, IKLV, SKTA, SILT, SIGT, MTNN and IKHC. (IMCM, IHFI, IFCM, SMOF and IKHC, which are located in dangerous zones, must make a disclosure of the general conditions of the company to resume trading.)
  • Asiacell (TASC) announced that it started paying 25% cash dividend (IQD0.25 dividend per share, 3.7% dividend yield) from 2015 profit starting  Aug. 1, 2017. TASC requested an authorization letter from clients for brokerage firms to receive the cash dividend.
  • National Islamic Bank (BNAI) held AGM* on Aug. 3, 2017 to discuss and approve 2016 annual financial results. ISX suspended trading of BNAI starting Jul. 31, 2017.

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th July 2017).

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

The RSISX index ended the week at IQD764 (+2.1%) / $784 (+2.1%) (weekly change) (-20.4% and -17.2% YTD change, respectively). The number of week traded shares was 25.6bn and the weekly trading volume was IQD20.4bn ($16.1mn).

ISX Company Announcements

  • Iraqi Islamic Bank (BIIB) will hold AGM* on Aug. 12, 2017 to discuss and approve 2016 annual financial results and rehabilitating the branches in dangerous areas by using IQD44.2mn from its expansion reserves. ISX will suspend trading of BIIB starting on Aug. 8, 2017.
  • Commercial Bank of Iraq (BCOI) will hold AGM* on Aug. 8, 2017 to discuss and approve 2015 annual financial results and distribute 2.6% cash dividend (IQD0.026 dividend per share). ISX will suspend trading of BCOI starting on Aug. 3, 2017. BCOI disclosed change in major shareholder’s ownership percentage after Ahli Bank of Bahrain acquired 25.7bn shares, corresponding to 10.3% share at BCOI.
  • National Islamic Bank (BNAI) will hold AGM* on Aug. 3, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of BNAI starting on Jul. 31, 2017.
  • Al-Nukhba for General Trading (SNUC) will hold AGM* on Aug. 13, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of SNUC starting on Aug. 8, 2017.
  • Iraqi for Seed Production (AISP) will hold AGM* on Aug. 15, 2017 to discuss and approve 2016 annual financial results, increasing its capital from IQD7.5bn to IQD11.25bn through 50% bonus issue and distributing 28.2% cash dividend (IQD0.282 dividend per share). ISX will suspend trading of AISP starting on Aug. 10, 2017.
  • Iraqi for General Transportation (SIGT) resumed trading on Jul. 27, 2017 after fulfilling ISC disclosure requirements and publishing 2014 and 2015 annual financial results.
  • Iraqi Land Transport (SILT) resumed trading on Jul. 27, 2017 after fulfilling ISC disclosure requirements and publishing 3M17 financial statements.
  • Baghdad Soft Drinks (IBSD) resumed trading on Jul. 25, 2017 after discussing and approving 2016 annual financial results and deciding to distribute 10% cash dividend (IQD0.10 dividend per share, 4.4% dividend yield).
  • United Bank (BUND) will start distributing 2% cash dividend (IQD0.02 dividend per share, 4.8% dividend yield) from 2014 profit starting on Oct. 1, 2017.
  • A cross transaction occurred on 4.9bn shares of Iraqi Middle East Investment Bank (BIME) on Jul. 24, 2017, which represents 2.0% of BIME capital.
  • A cross transaction occurred on 13.0bn shares of Al-Arabiya Islamic Bank (BAAI) on Jul. 24, 2017, which represents 5.2% of BAAI capital.
  • ISX disclosed on Jul. 24, 2017 that it will suspend auctioning the 18.946bn shares of United Bank (BUND) owned by Sarbast Bayiz Abbas Ako for the payment of debt to Trans Bank of Iraq (TBI) as requested by Bada’a Court/Erbil until the case is settled.

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th July 2017).

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

The RSISX index ended the week at IQD782 (-2.8%) / $802 (-2.8%) (weekly change) (-18.5% and -15.3% YTD change, respectively). The number of week traded shares was 2.0bn and the weekly trading volume was IQD1.1bn ($0.9mn).

ISX Company Announcements

  • The Governor of the Central Bank of Iraq, Ali Mohsen Ismail Al-Alaq, signed a memorandum of understanding with the British Ambassador to Iraq, Frank Baker, aimed at developing and supporting measures to combat money laundering and terrorism financing. The Central Bank notes that the agreement includes a financial grant from the British side of the Central Bank of Iraq, which in turn will be dedicated to supporting efforts in the field of combating money laundering and financing of terrorism through the organization of courses and workshops to develop capacities in cooperation with specialized international institutions. (CBI)
  • Baghdad Soft Drink (IBSD) will hold AGM* on Jul. 20, 2017 to discuss and approve 2016 annual financial results, electing new BoD members, distributing cash dividend and the decision of establishing new soft drink factory in Basrah province. ISX will suspend trading of IBSD starting on Jul. 17, 2017.
  • Bank of Baghdad (BBOB) held its AGM on Jul. 12, 2017. In the AGM, the bank approved 2016 annual financial results and decided to distribute 7% cash dividend (IQD0.07 dividend per share, 10.6% dividend yield).
  • Kurdistan International Bank (BKUI) will resume trading on Jul. 16, 2017 after fulfilling ISC disclosure requirements and publishing 1Q17 financial statements.
  • Commercial Bank of Iraq (BCOI) will resume trading on Jul. 16, 2017 after fulfilling ISC disclosure requirements and publishing 1Q17 financial statements.
  • National for Tourist Investment (HNTI) will resume trading on Jul.16, 2017 after discussing and approving 2016 annual financial results and deciding to distribute 11% cash dividend (IQD0.11 dividend per share, 1.6% dividend yield). The opening price will be IQD6.68 with +/-10% change.
  • Baghdad Hotel (HBAG) resumed trading on Jul. 13, 2017 after discussing and approving 2015 annual financial results and deciding to distribute 25% cash dividend (IQD0.25 dividend per share, 3.2% dividend yield).
  • National Bank of Iraq (BNOI) resumed trading on Jul. 10, 2017 after discussing and approving 2016 annual financial results and deciding to distribute 2% cash dividend (IQD0.02 dividend per share, 3.6% dividend yield).

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th July 2017).

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

The RSISX index ended the week at IQD805 (-0.9%) / $826 (-1.6%) (weekly change) (-16.2% and -12.8% YTD change, respectively). The number of week traded shares was 8.7bn and the weekly trading volume was IQD5.6bn ($4.3mn).

ISX Company Announcements

  • Baghdad Soft Drink (IBSD) will hold AGM* on Jul. 20, 2017 to discuss and approve 2016 annual financial results, electing new BoD members, distributing cash dividend and the decision of establishing new soft drink factory in Basrah province. ISX will suspend trading of IBSD starting on Jul. 17, 2017.
  • Iraqi Date Processing and Marketing (IIDP) will hold AGM* on Jul. 13, 2017 to discuss and approve 2016 annual financial results and discuss buying shares of Al-Khair Financial Investment (VKHF). ISX will suspend trading of IIDP starting on Jul. 10, 2017.
  • Bank of Baghdad (BBOB) will hold AGM* on Jul. 12, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of BBOB starting on Jul. 9, 2017.
  • Al-Hilal Industries (IHLI) will hold its AGM* on Jul. 27, 2017 to discuss and approve 2015 annual financial results. The company was suspended from trading starting on Jul. 6, 2017 for not publishing its 1Q17 financial results.
  • Investment Bank (BIBI) resumed trading on Jul. 6, 2017 after discussing and approving 2016 annual financial results and deciding to distribute 6% cash dividend (IQD0.06 dividend per share, 11.1% dividend yield) in its AGM (Jun. 22,2017).
  • Ahlia Insurance Company (NAHF) will hold AGM* on Jul. 11, 2017 to discuss and approve 2016 annual financial results. ISX suspended trading of NAHF starting on Jul. 6, 2017.
  • ISX suspended the following companies from trading starting Jul. 6, 2017 according to ISC letter for not fulfilling ISC disclosure requirements and publishing 1Q17 financial results: Commercial Bank of Iraq (BCOI), Kurdistan International Bank (BKUI), Al-Hial Industries (IHLI), Iraqi Land Transport (SILT), Al-Badia for General Transportation (SBAG), Al-Khatem Telecoms (TZNI), Al-Khair Financial Investment (VKHF), Bain Al-Nahrain Investment (VMES).
  • ISX notified Trade Bank of Iraq (TBI) on Jul. 6, 2017 that it will auction on Jul. 26, the 18.946bn shares of United Bank (BUND) owned by Sarbast Bayiz Abbas Ako for the payment of debt to TBI.
  • According to Bada’a Al-Karada court decision, ISX will auction 106.8mn shares of Investment Bank of Iraq (BIBI) on Jul. 9, 2017 owned by Widad Ali Ajam for the payment of debt to Al-Mansour Bank (BMNS).
  • National for Tourist Investment (HNTI) will hold AGM* on Jul. 10, 2017 to discuss and approve 2016 annual financial results and discuss investing in Basra land. ISX will suspend trading of HNTI starting on Jul. 5, 2017.
  • International Islamic Bank (BINT) calls investors to subscribe to its capital increase to IQD250bn through 150% rights issue starting from Jun. 21, 2017.
  • Mamoura Real Estate Investment (SMRI) calls investors to subscribe to its capital increase through rights issue starting from Jul. 23, 2017. The company will increase capital from IQD19.2bn to IQD22.78bn through 15.0% rights and 3.6% bonus issues.

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Note: ISX will be closed starting from June 25, 2017 to June 29, 2017 due to the religious holiday of Eid Al-Fitr. The next session will be held on Sunday, July 2, 2017.

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 22nd June 2017).

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

The RSISX index ended the week at IQD812 (-3.6%) / $839 (-3.2%) (weekly change) (-15.4% and -11.4% YTD change, respectively). The number of week traded shares was 4.5bn and the weekly trading volume was IQD3.3bn ($2.6mn).

ISX Company Announcements

  • Bank of Baghdad (BBOB) will hold AGM* on Jul. 12, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of BBOB starting on Jul. 9, 2017.
  • Baghdad Hotel (HBAG) will hold AGM* on Jul. 4, 2017 to discuss and approve 2015 annual financial results. ISX will suspend trading of HBAG starting Jul. 2, 2017.
  • Investment Bank of Iraq (BIBI) held its AGM* on Jun. 22, 2017. In the AGM, the bank discussed and approved 2016 annual financial results and distributing 6% cash dividend (IQD0.06 dividend per share, 11.1% dividend yield).
  • National Bank of Iraq (BNOI) held its AGM* on Jun. 21, 2017. In the AGM, the bank discussed and approved 2016 annual financial results and distributing 2% cash dividend (IQD0.02 dividend per share, 3.6% dividend yield).
  • Gulf Commercial Bank (BGUC) has signed a partnership agreement with Pio-Tech, a business intelligence and performance management solution provider, under which Pio-Tech will provide the bank with Bank-BI Foreign Account Tax Compliance Act (FATCA) system and Anti-Money Laundering tracking system (AML). (Zawya)
  • Al-Wiaam for Financial Investment (VWIF) resumed trading on Jun. 19, 2017 after discussing and approving 2016 annual financial results.

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Note: ISX will be closed starting from June 25, 2017 to June 29, 2017 due to the religious holiday of Eid Al-Fitr. The next session will be held on Sunday, July 2, 2017.

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th June 2017).

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

The RSISX index ended the week at IQD942 (-2.2%) / $867 (-2.6%) (weekly change) (-12.3% and -8.5% YTD change, respectively). The number of week traded shares was 3.3bn and the weekly trading volume was IQD2.5bn ($2.0mn).

ISX Company Announcements

  • A cross transaction occurred on 1.2mn shares of Modern Chemical Industries (IMCI) on Jun. 14, 2017, which represents 0.67% of IMCI capital.
  • Investment Bank of Iraq (BIBI) will hold AGM* on Jun. 22, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of BIBI starting on Jun. 19, 2017. ISX notified Badaa Al-Karada Court decision that it will auction on Jul. 9, 2017 the 107mn shares of BIBI owned by Wdad Ali Ajaam for the payment of debt to Saif Abdul-Ameer Hilal.
  • Al-Mansour Bank (BMNS) announced that it started distributing 5.0% cash dividend (IQD0.05 dividend per share, 5.1% dividend yield) from 2016 profit starting Jun. 11, 2017.
  • Gulf Insurance and Reinsurance (NGIR) will hold AGM* on Jul. 3, 2017 to discuss and approve 2015 annual financial results. ISX will suspend trading of NGIR starting on Jul. 2, 2017.
  • Modern Animal and Agricultural Production (AMAP) will hold a GA on Jul. 2, 2017 to elect a BoD. ISX will suspend trading of AMAP starting on Jul. 2, 3017 and the company will resume trading on Jul. 3, 2017.
  • Al-Nibal Al-Arabya for Money Transfer (MTNI) resumed trading on Jun. 11, 2017 after discussing and approving 2016 annual financial results.
  • ISX requested Al-Huda Islamic Bank to submit a number of documents in order to be listed in the ISX.

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th June 2017).

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

The RSISX index ended the week at IQD861 (-3.1%) / $890 (+2.3%) (weekly change) (-10.3% and -6.0% YTD change, respectively). The number of week traded shares was 4.0bn and the weekly trading volume was IQD3.0bn ($2.4mn).

ISX Company Announcements

  • National Bank of Iraq (BNOI) will hold AGM* on Jun. 21, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of BNOI starting on Jun. 18, 2017.
  • Al-Nibal Al-Arabya for Money Transfer (MTNI) will resume trading on Jun. 11, 2017 after discussing and approving 2016 annual financial results.
  • Subscription on 0.5bn Al-Ameen Financial Investment (VAMF) shares extended 60 days starting on Jun. 11, 2017 to increase the capital to IQD1.5bn through 50% rights issue.
  • Modern Sewing (IMOS) resumed trading on Jun. 5, 2017 after discussing and approving 2016 annual financial results.
  • National Company for Printing and Publishing (which was listed in Baghdad Stock Exchange) will be liquidated according to the registrar approval.

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st June 2017).

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

The RSISX index ended the week at IQD841 (-3.1%) / $870 (-2.7%) (weekly change) (-12.3% and -8.1% YTD change, respectively). The number of week traded shares was 3.9bn and the weekly trading volume was IQD2.7bn ($2.1mn).

ISX Company Announcements

  • The Central Bank of Iraq (CBI) disclosed that a law to protect banks’ deposits shall be issued soon. Governor Ali al-Alaq pointed that this law will support the Iraqi banks and their clients, as well as creating a state of trust between the citizen and the banks.
  • According to the CBI announcement on June 1, 2017 for working benefit and applying item 2 of CBI law and Item 56 of banks laws and to follow CBI instructions to build a strong, safe, transparent and developed banking system the following items were decided: 1) Guarantee credit ceiling is set that it should not exceed 200% of the capital and reserves and monetary credit ceiling should not exceed 600% of the capital and reserves which is a total of 800% of capital and reserves. 2) Provision of 7% of the guarantee letters after deducting the margin accounts of 15%, according to the instructions of issuing guarantee letters, are deposited in the CBI in a specific account for this purpose to face any deficit in covering the claimed guarantee letters that are not paid. It has to be included within the cash balances when calculating the bank’s liquidity. The amount is paid when the legal procedures are completed or when the banks can’t pay the amount using its own balance. 3) The CBI confirmed its announcement on Sept. 14, 2014 which included not accepting cheques or promissory notes as collateral for the credit and demanding the borrower to offer tangible collateral that matches the amount of credit. 4) The compliance manager and auditors must confirm the guarantee letters and the collateral received for that matter and include these observations in their disclosed reports.
  • The CBI has decided to open two branches in Erbil and Suleymani respectively from next month after a year-long talk with the Kurdish government. (Rudaw)
  • Mosul Bank for Development and Investment (BMFI) will hold AGM* on Jun. 6, 2017 to discuss and approve 2015 annual financial results and discuss relocating company HQ from Erbil to Baghdad. ISX suspended trading of BMFI starting on Jun. 1, 2017.
  • Trans Iraq Bank for Investment (BTRI) resumed trading on May 30, 2017 after discussing and approving 2016 annual financial result and deciding to distribute 3.4% cash dividend (IQD0.034 dividend per share, 4.9% dividend yield).
  • Electronic Industries (IELI) resumed trading on May 30, 2017 after fulfilling ISC disclosure requirements, publishing 2014 and 2015 annual financial results and paying the annual listing fees.
  • Al-Bilad Islamic Bank for Investment and Finance (BLAD), which has IQD250bn paid-in capital, has completed depositing its shares in the IDC and started trading in the regular market on May 28, 2017.