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Internet outages did not affect the trading of foreign investors DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Internet outages did not affect the trading of foreign investors

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Internet outages did not affect the trading of foreign investors Empty Internet outages did not affect the trading of foreign investors

Post by claud39 on Fri Nov 15, 2019 6:32 pm

[size=36][rtl]Internet outages did not affect the trading of foreign investors[/rtl][/size]

Friday, November 15, 2019

Internet outages did not affect the trading of foreign investors Alsabaah-22415

Baghdad / Mustafa al-Hashemi
The interruption of the Internet service damaged a number of financial, service and tourism sectors, which reflected negatively on the national economy as a whole, while this interruption did not significantly affect the movement of trading in the Iraqi market for securities, especially for non-Iraqi investors. 

The financial intermediary Harmer teller for "morning" that the impact of "interruption of Internet service, during the past days, in the movement of trading in the Iraqi market for securities was limited and in a very narrow range."

He explained that "non-Iraqi investors who are trading large amounts communicate with us by phone to inform us of their desire to dispose of their shares to buy or sell," stressing that "there is a special system for trading in the Iraqi market for securities through an internal network, which in turn was not affected by the interruption of Internet service in the past days Being a special system. "

Foreign trading

According to the report of the Iraq Stock Exchange for the month of October, the indicators of trading for non-Iraqis, according to trading sessions in the regular market, was represented by the number of shares traded (buy) for non-Iraqi investors (foreign) amounted to 889,015,123 shares, while the value of shares traded to them 714,623,959 million Checked through 474 transactions.

The number of shares traded (for sale) to non-Iraqi investors (foreign) amounted to 353,057,574 shares worth 392,803,306 million dinars achieved through 489 transactions.

Outage damage

For his part, economist Dr. Majid al-Baidani believes that the disruption of the Internet service in Iraq during the recent period has caused damage in the financial, banking, productive, tourism and service sectors because it is the basis in the work of these sectors.

Al-Baidhani told Al-Sabah that "the financial and banking sector has developed in Iraq in recent years, especially after the introduction of new and sophisticated systems operating through the Internet through which the transfer and receipt of amounts, whether between banks or between citizens and those banks on the other."

Transport and tourism

Baidani added that "the tourism sector and internal transport was also affected by the interruption of the Internet service, as the offices of airlines and transport by taxi are now adopting the system of electronic booking and that the interruption of the Internet has caused losses to the work of those companies or offices operating in Iraq."

`` The services sector was the most affected by the interruption of the Internet, because the dealers selling, buying and shopping from websites or shops that sell their products through social networking sites have disrupted their interests and their business, including those who provide service to deliver those products to customers. ''

Big losses

Media reported that the loss of the financial, electronic and tourism sectors in Iraq, due to the great disruption of the Internet service, pointing out that the private sector was the most affected by this interruption.
The report said that "private banks in Iraq recorded significant losses since the first interruption of the Internet in early October last, and that the combined losses of private banks and mobile phone companies, money transfer services, tourism and airline booking offices nearly 40 million dollars a day."

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