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ECONOMY MINISTER TASKS CAPITAL MARKET TO AIM FOR LINKING UP WITH WORLD EXCHANGES

Minister of Economic Affairs and Finance has urged senior officials from the Iranian capital market to conduct feasibility studies to build links between the Iranian stock exchanges with the world.

Iran’s Minister of Economic Affairs and Finance, Masoud Karbasian, has urged senior officials from the Iranian capital market to conduct feasibility studies to build links between the Iranian stock exchanges with the world.

 

The Minister made the remarks in a general session with the presidents, chief executive officers and board members of Iran’s four exchanges, centers of investment institutions, brokers as well as President and CEO of Central Securities Depository of Iran, MohammadReza Mohseni in attendance.

 

Karbasian expressed satisfaction over the current state of the Capital Market away from volatility, and said: “It is encouraging that despite recent exchange rate fluctuations that triggeredsome turbulence in the currency market, the capital market maintained calm.”

 

He further attached significance to the role the Capital Market plays and added, “I do expect the Market to sincerely help finance the development of the country. To that end, some 3 billion US dollars worth of Islamic Treasury Bills are to be issued.”

 

Elsewhere is his remarks, the Economy Minister reiterated that serious steps should be taken in order to guarantee 8% growth in our economy. He went on to say that it is necessary to follow up on the Capital Market development through underscoring the design and engineering of financial and commodity instruments, development of the energy market and crude oil and petroleum products supply in the energy stock market.

 

Karbasian noted that Iran has for long enjoyed one of the most sophisticated accounting systems in the world, emphasizing on improvement through measures such as the implementation of corporate governance in stock companies, the possibility of people's participation by reducing the deposit profits and replacing the stock market, contributing to the transparency of the capital market, covering the risk of commodity fluctuations, providing financial facilities in the primary market, enhancing information transparency, strengthening the regulatory components, risk assessment of currency fluctuations and diversification of tools in the capital market.

 

The Iranian Economy Minister also attached great significance to equipping infrastructure facilities of the exchanges to render electronic services and linking it up with other exchanges of the world.

Release Date: 11/21/2017


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