Tuesday, July 19, 2011

A Shamefull Iraqi Stock Exchange Market , Another Joke to Insult our Iraqi Nationality

Finance and business are my main interests in life, as I am trying to build up something for me in this sector.
As the usual I was searching and brainstorming (which I always do after 12AM :D) following my personal moto, preparations are your key success in any plan you execute.

One of the stages in my brain storming is to get into the Iraqi Exchange Stock Market which is called ISX.

Some information about the ISX which used to be called Baghdad Stock Exchange before 2003 war, This market used to have few companies after the 1980 ear, and nearly not active after the 1990 ear. After the 2003 war, my uncle used to trade, so he  would pick me up with him to the stock market. I fantasized it like the New York Exchange market or something close, with people dressed in funny colors and shouting some stuff that I would never understand. But I was shocked to walk into an empty room with white black boards filled with information about stock prices and company names by a black marker and at the end of the office there is a disk where the broker sits. A broker is (a person with clearance to buy and sell stock on behalf of other people in exchange for a commission)/ That broker was a friend of my uncle, so they started chatting. He advised  my uncle to buy Mansour Hotel stocks because there is a rumor that someone with political profile is going to buy all the stocks and have it as privatized company so my uncle could made a 2Dinar/Stock profit !!! which in nothing until you buy like 200K stocks, which will give him a profit of nearly 160$ !! what a joke it was.

Back to the main joke, I was reading about the new stock market reforming and here is quotation from an interview with the Commission Chairman Abdul-Razzak al-Saadi by Radio Free Iraq in Feb 2009, That he said " Al-Saadi said a $7 million grant from international donors has enabled the stock exchange to buy the electronic system." !!!!!!!! WHAT THE FUCCCCCCCCCCCCCCK !!

Iraq issued 82 BILLION $ BUDGET, and it's stock market gets 7million$ donations from INTERNATIONALS to install an advanced system supported by computers instead of BLACKBOARDS AND CHALK OR MARKERS !!!

THIS IS DISGRACE TO ME AS AN IRAQI, This is an insult to all Iraqis. How the hell should we convince foreign companies and global financial institutes to come in to Iraq ????? While our dear government is to busy to give 7 of 82,000 millions to install a 2 electronic board system (not that lavish or any shit).

Uchhhhhhhhhhhhhhhhh

 

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