Investment companies in stock market incur “heavy losses”

BAGHDAD / IraqiNews.com: Iraqi economists and financial experts have agreed that financial investment companies listed on the Iraqi stock market have incurred “heavy losses” throughout the current year. “The financial investment sector has not achieved a high current ratio throughout 2008 because it has confined its dealings to securities,” an Iraqi investor told IraqiNews.com. The investor called on the Central Bank of Iraq (CBI) to amend its law to include other sectors, like real estate. Nine financial investment companies are listed on the Iraqi stock exchange Habib Yaqo Toma, another investor, said that financial investment corporations have become unable to make profits “because they are isolated as a result of the laws and regulations that are imposed on them.” SS (P) 1