Latest news with #TugbaTanKarakaya
Zawya
10 hours ago
- Business
- Zawya
Rabee Securities Iraq Stock Exchange Index posts 0.7% growth in May
Baghdad, Iraq: The Rabee Securities Iraq Stock Exchange Index (RSISX Index) rose by 0.7% in May, supported by gains in Asiacell, Baghdad Soft Drinks, National Bank of Iraq, and Al-Mansour Bank. Meanwhile, the RSISX Total Return Index (RSISXTR) outperformed, rising 6.4%, driven by strong dividend activity. Key contributors included Bank of Baghdad (IQD0.65 per share, 14.5% yield), Asiacell (IQD1.50 per share, 11.5% yield), and Al-Mansour Hotel (IQD0.17 per share, 0.4% yield). Tugba Tan Karakaya, Equity Analyst at Rabee Securities, commented: 'The market's performance this month reinforces investor confidence in core sectors like banking and telecom. Despite softer trading volumes, we are seeing healthy signals in dividend yields and price movements. As Iraq advances on reforms and financial inclusion, the medium-term fundamentals remain promising'. Total trading volume on the Iraq Stock Exchange (ISX) declined 21% month-on-month to USD 21.8 million. Excluding cross-transactions, the volume stood at USD 18.2 million, a 24% drop. The banking sector remained dominant, accounting for 60.1% of trades, followed by telecom (19.8%), industry (13.1%), services (3.2%), agriculture (2.1%), and hotels & tourism (1.6%). Trading activity in the OTC market also dipped 10% to USD 88.5K. In May, 27 companies recorded share price increases. Of these, 13 rose more than 5%, and 9 gained over 10%. Al-Ahlyia for Agricultural Production led the market with a 67.4% surge, followed by Al-Hilal Industries, up 42.5%. On the macroeconomic front, Iraq welcomed several key developments during the month. The IMF, during its May 4–13 visit, called for urgent reforms including fiscal consolidation, restructuring of state-owned banks, and private sector expansion. The 34th Ordinary Arab League Summit was held in Baghdad on May 17, hosting delegations from 20 Arab countries. Meanwhile, the Central Bank of Iraq (CBI) launched its first National Financial Inclusion Strategy (2025–2029), aiming to expand secure access to financial services nationwide. Additionally, Iraq signed a strategic deal with a consortium led by China-based Geo-Jade Petroleum and Basra Crescent. The agreement targets a fivefold increase in output from the Tuba oil field rising from 20,000 to 100,000 barrels per day and includes investment in downstream infrastructure totaling $848 million.
Zawya
09-05-2025
- Business
- Zawya
Rabee's Iraq Stock Exchange Index reports 3.0% growth in April
Baghdad, Iraq: The Rabee Securities Iraq Stock Exchange Index (RSISX Index) recorded a 3.0% increase in April, distinguishing Iraq's capital markets from declines seen across several regional economies, including Saudi Arabia (-2.9%), Bahrain (-2.0%), Kuwait (-1.4%), and Muscat (-1.2%). The positive trajectory was led by key contributors such as Al-Mansour Hotel, Al-Mansour Bank, Baghdad Soft Drinks, Asiacell, and Bank of Baghdad. 'The strength of Iraq's financial markets this month reflects more than isolated stock movements—it signals growing investor trust in the country's economic reforms and market structure,' said Tugba Tan Karakaya, Equity Analyst at Rabee Securities. 'With regulatory momentum building and investor participation diversifying, the RSISX Index continues to position itself as a credible indicator of the country's forward economic narrative.' The RSISX Total Return Index (RSISXTR) posted a 4.2% rise in April, outpacing the RSISX Index itself. This gain was partially driven by the absence of the dividend impact from the National Bank of Iraq, which issued a dividend of IQD 0.20 per share, equivalent to a 5.6% yield. Total trading volume on the Iraq Stock Exchange (ISX) dipped by 2% compared to March, reaching USD 27.7 million. Excluding cross transactions, volume declined 11% month-on-month to USD 24.1 million. The banking sector continued to dominate activity with a 71.1% share, followed by the industry (11.0%), telecom (6.2%), hotels and tourism (6.0%), agriculture (4.2%), and services (1.5%) sectors. Meanwhile, over-the-counter (OTC) market volume rose significantly, increasing 288% from the previous month to USD 98.5K. Investor sentiment remained optimistic, with 30 companies witnessing share price growth. Of these, 16 increased by more than 5.0%, and 8 surpassed the 10.0% mark. Kurdistan International Islamic Bank led with a 118.9% increase in share value, followed by Al-Mansour Hotel at 20.0%. On a broader level, April featured several developments underscoring Iraq's capital market maturity. A strategic cooperation agreement between the Iraqi and American Chambers of Commerce was signed on April 9 to strengthen SME participation and enhance bilateral trade, science, and technology collaboration. On April 15, the Iraqi Securities Commission launched its first Environmental, Social, and Governance (ESG) guide, establishing mandatory standards for ISX-listed companies. The month concluded with a landmark MoU between the Iraq Stock Exchange, the Iraqi Securities Commission, and the Abu Dhabi Securities Exchange to join the Tabadul digital trading platform, advancing regional integration and cross-border innovation.
Khaleej Times
10-04-2025
- Business
- Khaleej Times
Rabee Securities achieves 1.6% growth in Iraq Stock Exchange index amid regional market volatility
Rabee Securities, Iraq's leading financial services firm, reported a 1.6% growth in the Rabee Securities Iraq Stock Exchange Index for March 2025. This performance emerges as a standout achievement during a period where regional markets experienced varied economic pressures. While major markets in the region recorded declines, Iraq's financial sector demonstrated resilience and strategic adaptability. The RSISX Total Return Index reported an even stronger growth rate of 2.0%, driven by effective dividend management, strong investor engagement, and a steady flow of capital into key sectors. The broader regional landscape continues to navigate complex global economic conditions. Despite these challenges, Iraq's financial markets have shown robust performance and continued growth. Excluding cross transactions, monthly trading volume increased by 31% to $26.9 million. According to Tugba Tan Karakaya, Equity Analyst at Rabee Securities, the consistent growth in trading volume underscores Iraq's ability to attract and retain investor interest. 'The continued momentum in trading activity reflects a resilient investor base that recognises the potential within Iraq's financial markets. We are seeing substantial engagement across key sectors, with the banking sector particularly demonstrating strong performance and investor interest.' Strategic economic initiatives during March further highlighted Iraq's capacity to strengthen its economic foundations. The establishment of the National Mobile Telecommunications Company (NMTC) in partnership with Vodafone Group to develop the country's 5G network exemplifies a forward-looking vision aimed at enhancing infrastructure and revenue generation. Additionally, the $25 billion agreement with BP to develop four oilfields in Kirkuk, aiming to increase oil output by 450,000 barrels per day and elevate natural gas production to at least 400 million cubic metres annually, is expected to provide a substantial boost to the nation's economic landscape. The Central Bank of Iraq's partnership with Emirates Islamic Bank to enhance cooperation in Islamic banking is another critical step in diversifying Iraq's financial ecosystem. By expanding correspondent accounts and enabling Iraqi customers to invest in Islamic sukuks, this collaboration aims to broaden investment opportunities and foster greater financial inclusion. Rabee Securities' consistent performance against a challenging regional backdrop highlights Iraq's resilience, adaptability, and forward-thinking approach. As markets across the region continue to navigate complex conditions, Rabee Securities remains committed to delivering critical insights and strategic guidance to investors seeking sustainable growth.
Khaleej Times
09-03-2025
- Business
- Khaleej Times
Iraq stock exchange index holds steady as market confidence strengthens
The Rabee Securities Iraq Stock Exchange Index (RSISX) maintained its stability in February 2025, recording a 0.03 per cent increase compared to January, underscoring investor confidence amid evolving market conditions. The Iraq Stock Exchange (ISX) witnessed a significant 46 per cent surge in total trading volume, reaching $33.3 million, while monthly trading volume - excluding cross transactions - rose by 42 per cent to $20.5 million. Tugba Tan Karakaya, equity analyst at the research department of Rabee Securities, said: 'The resilience of the RSISX Index, coupled with a substantial rise in trading activity, signals sustained investor confidence in Iraq's capital markets. The banking sector's commanding presence in trading volumes highlights continued demand for financial institutions, particularly as Iraq advances structural reforms aimed at fostering a more transparent and efficient financial ecosystem. With digital payment adoption accelerating and regulatory measures reinforcing market stability, Iraq's stock exchange is well-positioned for long-term growth.' The banking sector led February's trading activity, accounting for 81.1 per cent of total volume, reinforcing its role as a cornerstone of the market. Investor participation remained strong across industry (6.4 per cent), telecom (6.6 per cent share), and agriculture (4.4 per cent), services sector (1.6 per cent share), and hotels and tourism sector (0.5 per cent share), while the OTC market also saw an 11 per cent increase in trading volume, reflecting diversification in capital inflows. Among the 23 publicly traded companies that recorded share price increases, Al-Ameen for Insurance emerged as the top performer, surging 13.3 per cent, followed by Gulf Commercial Bank with a 9.8 per cent gain, highlighting renewed confidence in financial services. February also saw key economic and regulatory developments that continue to shape Iraq's financial landscape. The Prime Minister's Office, in collaboration with the Central Bank of Iraq (CBI) and an international management consultancy, launched a banking reform initiative aimed at modernizing financial frameworks. In a further sign of economic resilience, Standard & Poor's reaffirmed Iraq's credit rating at 'B-/B' with a stable outlook, reflecting investor confidence in the country's fiscal management. Meanwhile, the CBI reported a sharp rise in digital payment adoption, with approximately 63,000 payment devices now deployed across Iraq's governorates, marking a significant shift toward financial digitization. Additionally, the Association of Iraqi Private Banks introduced the 'Our Bank and the Smart Robot' application, an initiative designed to enhance financial literacy and promote digital banking solutions across the country. As Iraq advances its economic transformation agenda, the steady trajectory of its stock market, the rise of digital financial solutions, and ongoing financial sector reforms continue to drive momentum. With investor sentiment strengthening and liquidity deepening, Iraq's capital markets remain on a path toward sustainable long-term growth.
Zawya
08-03-2025
- Business
- Zawya
Rabee securities Iraq Stock Exchange Index holds steady as market confidence strengthens
Iraq - The Rabee Securities Iraq Stock Exchange Index (RSISX) maintained its stability in February 2025, recording a 0.03% increase compared to January, underscoring investor confidence amid evolving market conditions. The Iraq Stock Exchange (ISX) witnessed a significant 46% surge in total trading volume, reaching USD 33.3 million, while monthly trading volume - excluding cross transactions - rose by 42% to USD 20.5 million. Tugba Tan Karakaya, Equity Analyst at the Research Department of Rabee Securities, commented on the market's performance, said: 'The resilience of the RSISX Index, coupled with a substantial rise in trading activity, signals sustained investor confidence in Iraq's capital markets. The banking sector's commanding presence in trading volumes highlights continued demand for financial institutions, particularly as Iraq advances structural reforms aimed at fostering a more transparent and efficient financial ecosystem. With digital payment adoption accelerating and regulatory measures reinforcing market stability, Iraq's stock exchange is well-positioned for long-term growth.' The banking sector led February's trading activity, accounting for 81.1% of total volume, reinforcing its role as a cornerstone of the market. Investor participation remained strong across industry (6.4%), telecom (6.6% share), and agriculture (4.4%), services sector (1.6% share), and hotels & tourism sector (0.5% share), while the OTC market also saw an 11% increase in trading volume, reflecting diversification in capital inflows. Among the 23 publicly traded companies that recorded share price increases, Al-Ameen for Insurance emerged as the top performer, surging 13.3%, followed by Gulf Commercial Bank with a 9.8% gain, highlighting renewed confidence in financial services. February also saw key economic and regulatory developments that continue to shape Iraq's financial landscape. The Prime Minister's Office, in collaboration with the Central Bank of Iraq (CBI) and an international management consultancy, launched a banking reform initiative aimed at modernizing financial frameworks. In a further sign of economic resilience, Standard & Poor's reaffirmed Iraq's credit rating at 'B-/B' with a stable outlook, reflecting investor confidence in the country's fiscal management. Meanwhile, the CBI reported a sharp rise in digital payment adoption, with approximately 63,000 payment devices now deployed across Iraq's governorates, marking a significant shift toward financial digitization. Additionally, the Association of Iraqi Private Banks introduced the 'Our Bank and the Smart Robot' application, an initiative designed to enhance financial literacy and promote digital banking solutions across the country. As Iraq advances its economic transformation agenda, the steady trajectory of its stock market, the rise of digital financial solutions, and ongoing financial sector reforms continue to drive momentum. With investor sentiment strengthening and liquidity deepening, Iraq's capital markets remain on a path toward sustainable long-term growth.
