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CSDI, IRAN AYANDEH BANK MOVE TO IMPROVE CAPITAL MARKET TIES

Heads of Central Securities Depository of Iran and Ayandeh Bank has acknowledged determination to improve bilateral ties particularly in development of local Capital Market.

The announcement was made by President and CEO of Central Securities Depository of Iran, Dr. MohammadRezaMohseni, in a meeting with the visiting Ayandeh Bank CEO, Dr. Jalal Rasoulof at the CSDI headquarters in Tehran.

During the meeting which took place in the presence of the two sides’ CEOs, Dr. Mohseni briefed the session on the key general responsibilities of the CSDI, adding: “The Money and Capital Markets in Iran are getting more and more engaged every day so much so that these two entities are functioning in harmony with each other as the two complementary wings of the Iranian economy to the benefit of its growth.”

He went on to say: “The CSDI has prioritized practical implementation of clearing and settlement processes for itself in a bid to tap into the existing potentialities of the country’s banking system. This will sure materialize once the CSDI settles a suitable cooperation with the banks and the Capital Market.”

Dr. Mohseni said there are currently four Iranian banks functioning with the CSDI clearing house, expressing hope that Ayandeh Bank will win approval for providing clearing and settlement services in the Iranian market once it comes to abide by the standards set by the CSDI and provides the necessary equipment and facilities.

CEO of Ayandeh Bank, Dr. Jalal Rasoulof, for his part reiterated that development of financial services to customers is among the priorities of his bank, saying: “As the first step, we can properly equip a branch of the bank to exclusively offer Capital Market services and see how effective it would appear.”

He elaborated that in the next step, the bank would facilitate 30 other select branches to expand its Capital Market services. 

Release Date: 11/22/2017


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