Baghdad – IA – Wissam Al-Mulla
Today, Thursday, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, summarized the importance of the Securities Commission and its tasks, while noting that the Commission represents the governance base in promoting financial market reform, and is responsible for supervising the correct rules in the Iraqi market.
Saleh said, in his speech during the twentieth anniversary of the founding of the Securities Commission, under the slogan (The Importance of the Financial Services Sector in Supporting the Iraqi Economy) and attended by the correspondent of the (INA): “In the name of Prime Minister Muhammad Shiaa al-Sudani, we present to the Securities Commission its president and staff. Warmest congratulations on the occasion of the twentieth anniversary of the founding of this important financial regulatory institution that assumed the duties of regulating the Iraqi securities market, which is the basic guarantee for high, stable, organized and growing financial markets through the implementation of regulations designed to protect the rights of users and maintain the integrity of the financial market.
He added, “The Securities Commission, with its regulatory, supervisory, and auditing apparatus, constitutes the central body responsible for supervising the correct rules, monitoring irregular activities, and investigating market violations.”
He continued: “The Securities Commission also represents the governance base in promoting transparency and reform in the work of the financial market, and the important role of the Securities Commission is evident in regulating broker-dealers and other market participants by supervising the depository center and updating the data of persons associated with brokerage companies.”
He added: “There is no secret of the important role played by the Securities Commission in coordination with international securities organizations and bodies, especially in adopting standards in the field of strengthening the efficiency of financial markets and communicating with international organizations related to financial markets, which has strengthened the role of the Securities Commission and the Iraqi Stock Exchange.” Finance in preparing Iraq for the World Trade Organization, which is the international organization that essentially emerged from the system of financial globalization, as the trade in financial services became an integral part of global trade.