Zain Iraq partners with the Iraqi stock exchange forum in Beirut to attract investors

Zain Iraq partners with the Iraqi stock exchange forum in Beirut to attract investors

  • Conference attended by 200 Iraqi and regional industry professionals.

Zain Iraq, a listed company on the Iraqi Stock Exchange (ISX) under its parent company ‘Al-Khatem Telecommunications JSC’, participated as a strategic partner of the ISX Forum in an event called ‘Trading Technologies and Investment Platforms’, which took place in Beirut on the 8 and 9 May.

The conference was attended by 200 professionals from the ISX, Iraqi Securities Commission, Central Bank of Iraq, presidents of the Lebanese Central Bank and the Beirut Stock Exchange, institutional investors, brokers and other investment professionals.

Topics discussed during the event included modern trading technologies and investment prospects in line with the region's developing economies, and growth in the financial investment sectors.

Taha Abdul Salam, the CEO of ISX said, “The aim of the forum was to attract investments and capital to the exchange, develop future plans with financial institutions, and establish relationships with brokers, funds, and investors who can contribute to the market's growth. It proved to be a very fruitful conference and we are confident we achieved our aims.”

Ali Al-Zahid, CEO of Zain Iraq commented on the company's experience on the ISX saying, “Zain Iraq is one of the largest companies investing in Iraq, and events such as this one are important for attracting additional investment to the country. Zain Iraq serves over 12 million customers and has invested more than US$5 billion in the country since inception, creating 2,500 direct local jobs and indirectly employing 30,000. We believe that our track record of success can be replicated by others and we openly invite the investment community to participate and benefit from the high potential rewards in Iraq.”

Technology is assisting in the rebuilding of Iraq and Zain is an example of the progress that can be achieved in the face of challenging circumstances. Zain abides by international best practices, delivering transparency to shareholders and stakeholders through its specialized investor relations department operating in an effective manner and structure.

Al-Khatem Telecommunications is an entity that was created in 2013 as an Iraqi parent -company of Zain Iraq, the license holder, for the purpose of listing on the Iraqi Stock Exchange in compliance with its license requirements. The listing was completed in June 2015, becoming the largest listed company on the ISX with more than 1.9 trillion shares of paid-in capital.

Zain Iraq's strategic partnership in this forum reflects the company's confidence in the Iraqi stock market and future potential it offers to investors. Zain Iraq is part of the Zain Group of companies operating in eight markets across the Middle East and Africa serving over 46 million customers.