Press Release

His Excellency, Chairman of the Securities Commission, Sponsors the Signing of a Cooperation Agreement Between Al-Karmel Financial Brokerage Company and BDO

Under the patronage of His Excellency Mr. Faisal Al-Haimus, Chairman of the Securities Commission, the Commission’s headquarters today, Sunday 30/11/2025, witnessed the signing of a joint cooperation agreement between Al-Karmel Financial Brokerage Company and BDO, in the presence of representatives from both companies and a number of officials from the financial sector.

At the opening of the ceremony, His Excellency the Chairman emphasized that the signing of this agreement represents an important step within the Commission’s vision to enhance integration among financial institutions and support initiatives that contribute to developing the capital market and establishing a safe and transparent investment environment. He noted that the Commission places great importance on developing financial brokerage services and expanding the use of modern trading technologies, which enhances market efficiency and provides investors with more advanced and reliable options. His Excellency also stressed that effective partnerships between companies operating in the financial sector are a fundamental driver for diversifying services and supporting efforts to elevate market activities and attract more investors.

In a related context, Mr. Wasim Younis Al-Jazrawi, CEO of Al-Karmel Financial Brokerage Company, stated that this agreement represents a qualitative step towards institutional professional cooperation in the Iraq Stock Exchange. He noted that it aims to develop financial evaluation and due diligence services, reinforce principles of transparency and governance, enhance investor confidence, and contribute to the success of initial public offerings (IPOs) while supporting Iraqi companies during growth and market listing phases.

For his part, Dr. Ali Ghalib Abbas, CEO of BDO Iraq, expressed his pride in the Securities Commission’s sponsorship of this cooperation, praising its vital role in regulating and developing the Iraqi financial market and supporting the investment environment. He explained that the signing of this agreement aligns with BDO’s vision to provide specialized consulting services that adhere to international standards, promote professional independence, and deliver added value to investors and Iraqi companies by transferring global expertise to the local market.

At the conclusion of the ceremony, His Excellency the Chairman reaffirmed the Commission’s continuous support for all initiatives that strengthen institutional work, enhance transparency and efficiency in the capital market, and serve the aspirations of the financial sector, contributing to its development and sustainability.