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Iraqi Stock Exchange Trades Chalkboards For Computers

BAGHDAD -- For the first time since it was launched in the mid-1990s, the Iraq Stock Exchange will have a computerized system to show the movement of shares, RFE/RL's Radio Free Iraq (RFI) reports.

Iraqi Exchange and Securities Commission Chairman Abdul-Razzak al-Saadi told RFI that the new system will replace two blackboards that are manned by personnel using chalk to record all changes.

Al-Saadi said a $7 million grant from international donors has enabled the stock exchange to buy the electronic system.

He added that 50 stock exchange employees have been trained in Jordan and the United Arab Emirates on how to operate it.

Exchange and Securities Commission member Talib al-Tabatabaei told RFI that the stock exchange is a fledgling market with about 100 companies registered.