Regulatory Alerts2024-07-14
Iraq Securities Commission Board Decision on Suspension of Trading for Nine Companies
The Iraqi Securities Commission issued a directive on July 11, 2024, suspending the trading of shares for nine listed companies on the Iraq Stock Exchange. This decision, made during the Board's ninth meeting on July 9, 2024, was based on the companies' failure to comply with disclosure regulations by not submitting their financial data for the first quarter of 2024. The affected entities include Gulf Insurance, Al-Haditha for Animal Production, Babylon for Animal Production, Zain Iraq Bank, and Amin Iraq Bank, among others.
Republic of Iraq Council of Ministers Iraqi Securities Commission
Iraqi Securities Commission Board Number: 13 / 2024 Date: 11 / 7 / 2024
To: Board of Governors of the Iraq Stock Exchange
Subject: Suspension of Trading
Greetings,
Based on the Regulatory Bylaw No. (8), Listed Companies Disclosure, Article (6-b), and considering that the listed companies below have failed to meet the financial disclosure requirements and have not provided the Commission with the financial data for the first quarter of 2024.
Therefore, the Commission Board decided in its ninth meeting held on 9/7/2024 to suspend the trading of the shares of the companies in the Iraq Stock Exchange.
With appreciation,
List of Companies
- Gulf Insurance (Joint Stock)
- Al-Haditha for Animal Production (Joint Stock)
- Babylon for Animal Production (Joint Stock)
- Zain Iraq Bank (Joint Stock)
- Amin Iraq Bank (Joint Stock)
Nagham Hussein Ismail Deputy Chairman of the Securities Commission 2024/7/11
Copies sent to: • Iraq Stock Exchange .. to take necessary action .. with appreciation • Office of the Chairman of the Commission .. for information .. with appreciation • Administrative and Legal Department .. Management Section .. with appreciation • Information Systems Department / Government Media and Communication .. for publication on the Commission's website .. with appreciation • Studies and Research Department .. for information .. with appreciation
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