Iraq will set up a second stock market in the autonomous region of Kurdistan, with plans to list companies in the next six months as foreign investors rush into Erbil for its favourable security and economic climate.
"Kurdistan is a launch pad for the wider Iraq," said Abdullah Ahmad Abdulrahem, the chairman of the Erbil Stock Exchange. "Our exchange would compliment Baghdad's ISX [Iraq Stock Exchange]. We are also considering cross-listings from there.
"We have some interesting companies here and we have the security. The project has been under consideration for almost four years but we only recently received the necessary approvals from various government institutions," said Mr Abdulrahem.
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