Erbil Stock Exchange Launch this Year

Rudaw News Apr-07-2014

ERBIL, Kurdistan Region – The Erbil Stock Exchange (ESX) plans to launch by the end of the year, making it the autonomous Iraqi Kurdistan Region’s first private joint-stock market.

While there are other exchanges in Iraq, this will be the first in the northern Kurdish enclave. Its primary focus is on listing Kurdish companies, although it also fashions itself as a secure gateway to the greater Iraqi market.

Initial plans are to focus on equities trade (stocks), although energy companies have expressed interest in issuing corporate bonds on the exchange.

The birth of ESX comes amid an economic boom in the Kurdistan Region, the only calm and secure portion of violence-torn Iraq and a thriving business hub. Foreign companies, including international energy giants, are attracted by opportunities locally, and are increasingly keen on using Kurdistan as a gateway for opportunities in the rest of Iraq.

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