The Iraqi Securities Commission confirmed a new memorandum of understanding with Egyptian authorities aimed at enhancing financial market transparency and stability, Iraqi News Agency reported on February 14.

The agreement will remain in effect for five years with the possibility of automatic extension.

In market movements, Trust International Islamic Bank saw a cross transaction of 12.0 bn shares valued at IQD9.0 bn, representing 4.8% of the bank's capital, while Iraq Noor Islamic Bank recorded a transaction of 1.4 bn shares worth IQD1.2 bn on February 9.

Ameen Al-Iraq Islamic Bank's rights issue subscription period concluded on February 5 without any uptake for the offered 100.0 bn shares, which was intended to increase the paid-in capital to IQD353.0 bn through a combined rights and bonus issue.

Several companies announced upcoming annual general meetings, including Al-Mansour Bank, which will be suspended from trading from February 23 ahead of its February 26 AGM to discuss a proposed 13.96% bonus issue and board member elections.

In other developments, Hammurabi Commercial Bank completed its listing procedures on the OTC platform with a capital of IQD201.0 bn, with share certificate creation beginning on February 13. Trading will commence either after 5% capital deposit or 21 days from the deposit initiation.

Iraq Baghdad for General Transport announced dividend distributions for fiscal year 2023, offering IQD0.6 per share, yielding 1.0%. The company invited shareholders to collect their dividends for 2023 and previous years at its headquarters.

The ISX also suspended trading for several companies including Kurdistan International Islamic Bank and Al-Batek Financial Investment ahead of their respective AGMs, while Asiacell resumed trading on February 11 following its successful board member elections.