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Ayşegül Özge Özgür, SVP, Head of Research Image Credit: Supplied

Iraq Stock Exchange continued to grow in the first quarter of 2022 by reaching $11.3 billion Mcap, up 8 per cent compared to end of 2021.

Rabee Securities ISX Index, RSISX Index, which is accepted as a benchmark index in the market, increased by 15.5 per cent in 1Q22, while USD RSISX Index went up by 16.2 per cent.

Ayşegül Özge Özgür, SVP, Head of Research, said: "Banking sector played a major role again in trading in the first quarter of 2022 and constituted 70 per cent share in total trading by doubling to $78.7 million. We expect to see increase in demand on the ISX as the price of oil remains high, the real GDP of Iraq will grow the 6th highest in the world in 2022 according to IMF and the long-awaited government formation will be completed.

“This in spite of the political instability and weak interest due to lack of information about the market. The banking sector is 45.9 per cent of total Map with 43 listed banks, followed by 41.5 per cent for the telecom sector with two mobile operators, the industry sector at 7.3 per cent share with 20 companies, and various sectors taking up the remainder of the share.