Securities Commission signs agreement with International Finance and Trade Center

Shafaq News/ Iraq's Securities Commission on Wednesday said it signed an agreement with Kurdistan's International Center for Finance and Trade to enhance financial investment and boost economic activities in the region.

A statement by the commission said that Faissal Al-Haimas, head of the Securities Commission, and Saad Abdel Qahar Al-Sheikh, General Manager of the International Center for Finance and Trade, inked the agreement in Sulaymaniyah earlier today.

This initiative is a part of a strategy to foster sustainable development by improving the economic environment and expanding the investment base.

According to the statement, the agreement aims to bolster the role of the Central Bank of Iraq in supporting the initiative to establish the International Center for Finance and Trade in Sulaymaniyah.

"It [also] seeks to promote investment in securities," it added, "both the commission and the center are set to exchange expertise and knowledge in legal, administrative, and technical domains."

The Securities Commission said it will establish an office within the International Centert to boost the investors' confidence in the securities market. In turn, the Iraqi Securities Market will open a branch in the International Center, which is expected to widen the investment scope and boost financial activities.

"This agreement is a proactive step in aligning with global financial and commercial developments and reflects the commitment of both entities to bolster cooperation, achieve sustainable development, and create a conducive environment for investment in Iraq."