Al Karmal is one of the leading brokerage firms on the Iraq Stock Exchange (ISX) since 1995 and is one of the most established independent market intermediaries locals in Baghdad,

  • offering brokerage services, research, portfolio management and consultancy services.
  • Management consists of experienced market participants with the strong knowledge and wide local network.
  • More than 5000 clients with a diverse base, local groups, public sector, global institutions & investors.
  • one of the top firms on the ISX in term of market share and ranking.
  • We have unique market insights and have been able to capitalise on the rapid market growth to the benefit of our investors.


The company was established in 1995 and is one of the most established independent market intermediaries brokers.
The management of the company consists of experienced market participants with the strong market knowledge and a wide local network.
We have a diverse base of clients ranging from established local groups, public sector entities and global institutional investors. Our register Clint reach to 4000 Clint with assets under management more than 400 million dollars in 2015
Al Karmal headquarters are in Baghdad. And plan to open in Erbil soon this year 2016.
We have a distinguished track record in our market. Since establishment, Al Karmal has consistently been amongst the top firms on the ISX in terms of market share and ranking. We have nearly 18% share of the institutional market on the ISX. One of our core competencies is strategic acquisitions. In 2005 in Dar es salam bank with HSBC Global bank and in 2012 in Golf commercial bank with al Janabi group and 2014 in Dijla and furat bank to a local family.
In 2014 Karmal has a member of Arab Federation of exchange and ranked as best broker company in Iraq in 2014 with the market share of 48 %.
We are particularly active in the hospitality sector where we acted on behalf of local investors in the acquisition and rehabilitation of the capital’s landmark hotels.Crystal grandIshtar, Palestine meridian, Mansour Melina hotels
We have unique market insights and have been able to capitalise on the rapid market growth to the benefit of our investors and the market as a whole.
Our distinguished professional standards allow us to identify attractive investment opportunities and market winners to our investors.
This enabled us to bring strategic and long-term capital to local companies to fund their future growth.
Our services are tailored to bring benefits to our investors and the local companies and marketers alike.
Our operation is supported by in-depth and fundamental research that caters to our investors’ needs.
At Al Karmal we have a deep conviction that Iraq offers an unparalleled investment opportunity with a well-balanced risk/reward trade-off. Today, Iraq is going through what could be one of the most ambitious rebuilding efforts in recent times. With vast untapped resources and a large young population, it is well equipped to regain its position as a regional economic power.