A lot of members of administrative boards of the banks and companies taking part in these meetings are living outside Iraq ; thus they would be unable to participate in these meetings in case they were held in Baghdad.
An Iraqi investment pointed out that the International Investment Bank in Basrah along with Al-Khaleej and Sumar banks are preparing to hold their meetings in Arbil but this procedure will not provide much information for the stockholders in these banks and companies about the meetings or what will be discussed in them concerning the present and future of their banks. How ever, another source who refused to reveal his name confirmed that the disturbing security situation in Baghdad justifies this exceptional step.
The indexes of the Iraqi stocks market sessions are pointing out for a high rise in circulated stocks in the banks sector at the cost of other sectors. The stocks of 10 banks have been circulated in the last session and their prices went high. The most distinguished bank among them was of Basrah which achieved the highest percentage estimated at 50, succeeded by the bank of Baghdad at a percentage of 22.2. The banks sector index closed at 39.752 points at a rise of 3.561%
The bank sector shares exceeded 400 million stock of the circulated stocks (79.7% of the overall stocks circulated in the session, at a value exceeded 79.8% of the overall mass of circulation).(Source)AlSabah
