By John Lee.
The Iraqi Securities Commission (ISC) has announced the launch of its strategy for 2026-2028, aimed at developing the Iraqi capital market, improving efficiency, and enhancing the investment environment in line with international standards.
The strategy prioritises completion of the legislative and regulatory framework for the securities market, including follow-up on the enactment of a permanent Securities Law. This is intended to expand investment opportunities in shares, bonds, and other financial instruments covered by the draft legislation.
The Commission said the strategy also focuses on strengthening its international standing by meeting the requirements to sign a memorandum of understanding with the International Organization of Securities Commissions (IOSCO), as a step towards moving from associate to full membership and aligning with global regulatory and supervisory standards.
Key elements of the strategy include:
Attracting foreign brokerage firms and their clients through the exchange platform linked to the Abu Dhabi Securities Exchange (ADX)
Licensing access to the Iraqi market and completing technical connectivity with trading and clearing systems
Issuing clear regulatory and procedural manuals to ensure compliance and operational quality
Licensing local brokers to trade in global securities and commodities markets under Regulatory Regulation No. 35 of 2025
Advancing digital transformation through the adoption of electronic signatures
Completing the launch of custodian activities and licensing foreign banks
The strategy further includes developing trading, clearing, and electronic supervision systems, and enhancing cooperation with the Central Bank of Iraq (CBI) to list financial and banking joint-stock companies, as well as with the Ministry of Finance / Insurance Diwan to list insurance sector companies.
Full statement from the Iraqi Securities Commission:
Iraqi Securities Commission announces the launch of the Authority’s Strategy for 2026-2028 to develop the capital market and enhance investments
His Excellency, the Chairman of Iraqi Securities Commission, announced the launch of the Securities Commission’s Strategy for the years 2026-2028, which aims to develop the Iraqi capital market and enhance its efficiency in a manner that contributes to supporting the national economy and creating a stable and secure investment environment in line with international standards and best practices.
His Excellency explained that the strategy focuses on completing the legislative and regulatory framework of the securities market foremost among which is following up on the enactment of the permanent Securities Law, which will enable the expansion of investment opportunities in shares, bonds, and other investment instruments included in the draft law.
He pointed out that the Commission is working to strengthen its international standing by fulfilling the requirements for signing a Memorandum of Understanding with the International Organization of Securities Commissions (IOSCO), as a step toward transitioning from associate membership to full membership, thereby ensuring compliance with international regulatory and supervisory standards.
His Excellency further noted that the strategy includes attracting foreign brokerage firms and their clients through the exchange platform affiliated with the Abu Dhabi Securities Exchange by granting the necessary licenses to enter the Iraqi market and completing technical connectivity with trading and clearing systems in addition to preparing clear regulatory and procedural manuals to ensure compliance and operational quality.
He added that the Commission seeks to open up to global securities and commodities markets by granting licenses to local brokers for external trading pursuant to the provisions of Regulatory Regulation No. (35) of 2025 which will enhance the diversity of investment instruments and improve market efficiency.
His Excellency emphasized that the strategy gives special attention to digital transformation through the adoption of electronic signatures in the transactions of the Commission, the market, and licensed companies, contributing to the simplification of procedures and the improvement of supervisory quality, in addition to completing the launch of the custodian activity by following up on technical requirements and granting the necessary licenses to foreign banks.
The strategy also includes developing trading, clearing, and electronic supervision systems, and strengthening cooperation with the Central Bank of Iraq to list all financial and banking joint-stock companies, as well as with the Ministry of Finance / Insurance Diwan to list companies in the insurance sector.
His Excellency highlighted the importance of monitoring companies’ compliance with the Corporate Governance Guide, given its impact on improving institutional performance and enhancing investor confidence, in addition to aligning the Commission’s objectives with national economic visions and programs aimed at diversifying income sources and increasing revenues.
He concluded by affirming the continuation of intensive media and awareness campaigns to entrench a sound investment culture and enhance public confidence in the Iraqi securities market in support of economic reform pathways and sustainable development.
(Source: ISC)
