“Moving Along Nicely” – Fri. AM TNT Thoughts/News 2-11-22

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TNT

KasyKo1:
Sounds like things are moving along nicely: “The Association of Iraqi Private Banks organized, on Thursday, a meeting of all its specialized banking committees, in order to support the work of the banking sector.”

TexasCitygirl:
Any HOT news

MountainMole:
Making something “HOT” as a miner means that the blasting cap that ignites the primer to the round is lit. The RV is not HOT yet but it’s all been prepared and the Nth degree. Soon a signal will be sent and the shot will be made hot. We can take that to the bank!

Tishwash:
Banks completely own the Iraqi stock market

The banking sector accounted for the entirety of the transactions in the Iraqi stock market, with a rate of 96% of the total transactions that took place in the past year 2021.

And 4 banks accounted for 67% of the total circulation, which are: 

1- Kurdistan Bank with a circulation rate of 34% of the total trading

2- Middle East Bank Iraq with a circulation rate of 17%

3- World Islamic Bank with a circulation rate of 9%

4- Bank of Baghdad with a circulation rate of 17% Trading amounted to 7%
, and the total number of traded shares reached 930 billion shares, representing 7% of the number of listed shares, which amounted to 13.7 trillion shares 
. As for the level of trading value, the total trading value in the market amounted to 813 billion Iraqi dinars. The percentage of traded sectors was as follows:

1- Banking sector The percentage of the value of shares traded reached 60%.
2- The telecommunications sector. The percentage of the value of shares traded reached 17%
3- The industry sector. The percentage of the value of shares traded reached 15%

Only five companies out of 105 listed companies accounted for 68% of the trading value, which are:

1- Kurdistan Bank by 41%
2- World Islamic Bank by 10.25%
3- Baghdad Soft Drinks Company by 6.5%
4- Bank of Baghdad by 5.73%
5- National Bank by 4.68%

And the stock market is considered one of the pillars of economic development for its ability to attract Domestic and foreign capital can play an important role in investing the funds that are hoarded and located outside the banking system.

The idea of the Iraqi stock market can be matured by adopting modern electronic systems that speed up the trading process, and the necessity of market governance by decisions that make the listed companies truly tradable will contribute to pumping a lot of capital into the market in a way that will contribute to increasing the contribution of the financial sector to the domestic product and thus Creating important job opportunities that help reduce unemployment rates.  link

A prominent Sunni MP: We will continue to support Al-Kazemi’s candidacy for a second term

A member of the Iraqi Parliament of the Sovereignty Alliance, Mishaan al-Jubouri, stated that his alliance will vote for Prime Minister Mustafa al-Kadhimi to assume the position again in the next four years, if he is nominated by the Sadrist movement.

Al-Jubouri said, “In the Sovereignty Alliance, we received a few days ago Prime Minister Mustafa Al-Kazemi, who came to congratulate us on winning and forming the coalition,” noting that “those who spoke with him, including Khamis al-Khanjar and Mishaan al-Jubouri, expressed their support for his assumption of the premiership again.”

It is noteworthy that Iraqi Prime Minister Mustafa Al-Kazemi did not run in the previous elections, knowing that he took office to succeed the resigned Adel Abdul-Mahdi, after a wave of massive protests swept central and southern Iraq.

Al-Jubouri explained that “the Alliance of Sovereignty will support and vote for Al-Kazemi in the event that he is nominated by the Sadrist movement, as our partner,” stressing: “We are committed to voting for its candidate as we voted for our candidate in the presidency of the House of Representatives,” referring to the vote on Muhammad al-Halbousi.    link

The Association of Iraqi Private Banks organized, on Thursday, a meeting of all its specialized banking committees, in order to support the work of the banking sector

The Association of Iraqi Private Banks organized, on Thursday, a meeting of all its specialized banking committees, in order to support the work of the banking sector.

The media office of the Association stated, in a statement received by the “National News Center”, that “the nine committees specialized in various topics will work to submit proposals to the Central Bank of Iraq through the Association of Banks, in addition to studying the instructions and expressing their opinion on them before their issuance.”

The statement added that “all these committees are made up of workers in the banking sector who are specialists in the issue of the committee.” link

Source: Dinar Recaps

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