History of Iraq Stock Exchange in Timeline

The Iraq Stock Exchange (ISX), formerly the Baghdad Stock Exchange, was established in Baghdad on April 18, 2004, by CPA Order No. 74 as an independent non-profit organization. This order also established the Iraq Securities Commission and an Iraq Depository. The creation of the ISX was part of Iraq's transition from a centrally planned economy towards a free market economy through a dynamic private sector. It plays a vital role in the country's economic development and financial landscape.

2003: Baghdad Stock Exchange Operation

Before the 2003 invasion of Iraq, the country's stock exchange was called the Baghdad Stock Exchange and was operated by the Iraqi Ministry of Finance.

April 18, 2004: Establishment of the Iraq Stock Exchange

On April 18, 2004, the Iraq Stock Exchange (ISX) was established by the Coalition Provisional Authority (CPA) Order No. 74. The order established the ISX as a sui generis independent non-profit organization, along with the Iraq Securities Commission and an Iraq Depositary.

June 24, 2004: Incorporation and Operational Launch of the Iraq Stock Exchange

On June 24, 2004, the Iraq Stock Exchange was incorporated and began operations. The exchange operates under the oversight of the Iraq Securities Commission, which is modeled after the U.S. Securities and Exchange Commission.

2004: Opening of the Iraq Stock Exchange

In 2004, the ISX opened with 15 companies listed.

2005: ISX Stock Turnover and Listed Companies

As of 2005, the ISX had more than 100 companies listed. Turnover of shares in 2005 was approximately $5 million USD per trading session. Major stocks included Bank of Baghdad, Baghdad Soft Drinks Co, Iraqi Tufted Carpets Co, Hader Marble, and Altherar Agriculture.

2006: Trading Statistics and Schedule

In 2006, 92 trading sessions were held, with 57 billion shares traded at a value of 146 billion dinars, and 38,000 trades were consummated. The trading floor was open six hours a week: Sunday, Tuesday, and Thursday from 10:00 a.m. to 12:00 noon.

2006: Suspension of Trading

In 2006, trading on the Iraq Stock Exchange was suspended for several months due to violence and power outages.

August 2, 2007: Opening of ISX to Foreign Investors

On August 2, 2007, the Iraq Stock Exchange (ISX) opened to foreign investors.

2008: ISX Unaffected by Financial Crisis

In 2008, the Iraq Stock Exchange (ISX) was unaffected by the global financial crisis.

April 19, 2009: Switch to Electronic Trading

On April 19, 2009, the Iraq Stock Exchange (ISX) switched to electronic trading. Initially, only five companies were available for electronic trading, with more to be added.

2018: ISX Performance in First Quarter of 2018

In the first quarter of 2018, the Iraq Stock Exchange (ISX) became one of the world's top performers due to the influx of investors, encouraged by the defeat of the Islamic state. Companies listed on the market increased by 10 percent, anticipating economic recovery due to recent developments. However, the ISX still faced challenges including political instability, sporadic conflicts, and the price of oil.