The powers that be want you to invest in Iraq. Former president George W. Bush wanted you to invest in Iraq. In fact, his administration passed legislation encouraging Americans to invest in Iraq. So, how do you do it? How do you invest in a country?
Probably the simplest way to invest in a country is to look for an ETF that makes investments in that country. At the time of this writing there were no ETFs specializing in Iraq. However, that may soon change.
In the mean time there are a couple things you can do. First off, you can invest in the currency of the country.
Unfortunately with Iraq, their currency does not yet trade on the FOREX market. There are currency dealers that will sell you the new Iraqi Dinar (IQD the currency of post-war Iraq). You can purchase that and hold onto it, waiting for an upswing in the value, or an reinstatement on the world’s currency markets. Many investors all over the world have done just that.
Another way to invest in Iraq is with its new stock market, the ISX. The downside to that strategy is that until the IQD is valued on the world market, you will have to open an account in Iraq to trade their stock market. Relax, you won’t have to go to Baghdad to do it. You can do it by wire and fax. There may even be some banks in Iraq with online applications.
Once you have an account set up inside of Iraq, you can benefit from any rise in their currency value and/or its stock market. Many investors are looking for ways to invest in the new country. The upside potential may well make it worth the extra hassle. If the extra effort doesn’t appeal to you, keep your eyes open for Iraqi ETFs that will surely surface soon!
Doug West has worked in Financial Planning and Investment training for over 20 years. Get his No-Cost Audio Report on how you can Secure Your Retirement with Free-Online Tools: Get your Free Report Here and discover Rock Solid income strategies, including how you may be able to increase your social security check by 50%.