President of the Iraqi Private Banks Association, Wadih Al-Handal
Economy News – Baghdad
The head of the Iraqi Private Banks Association, Wadih Al-Handal, announced on Thursday that the private banking sector will be the most traded on the Iraqi Stock Exchange during the year 2023.
Al-Handal said in a statement, reported by the official news agency, and seen by Al-Iqtisad News, that “the banking sector constitutes 93.94% of the total trading in the year 2023 in the Iraq Stock Exchange, with 647.8 billion shares traded out of a total of 689.6 billion shares.”
He added, “The value of traded shares amounted to 512.7 billion dinars,” noting that “the private banking sector witnessed significant development over the past year, despite the challenges it faced in financing foreign trade.”
He pointed out, “Bank stocks witnessed significant growth during the year 2023, as some banks’ growth reached more than 200% due to increased demand for the sector from Iraqi and foreign investors.”
He continued, “The banking sector witnessed an increase in its capital during the past year, in addition to the acquisition of some Iraqi banks by a number of Arab banks, and the entry of some Arab banks into the Iraqi market.”
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