CSDI, NSD OF RUSSIA DISCUSS WAYS TO BOOST COOPERATION IN TEHRAN MEETING

CSDI and NSD of Russia discuss collaboration in technological innovation, review channels to implement terms of cooperation agreement sealed back in April.

Central Securities Depository of Iran hosted the visiting representative of National Settlement Depository of Russia on Wednesday, July 4.

NSD's Head of Network Management, Client and Network Relations, Mr. Arman Melkumian, visited the CSDI headquarters in Tehran as part of CSDI and NSD's efforts to enhance cooperation and review best practices and latest research in different areas including issues of mutual interest.

A wide range of issues were raised at the meeting including progress of developing the banking infrastructure for bilateral cooperation, opening of correspondent accounts as well as initiatives to pave the ground for the two sides to get more acquainted with all spheres of their activities.

In his welcome remarks, Chief Executive Officer of Central Securities Depository of Iran, Mr. Hossein Fahimi, said that “CSDI considers collaboration with NSD as important with regard to all new and existing instruments as well as a high level of reliability and technological efficiency.”

Later in his remarks, Mr. Fahimi said CSDI was keen to foster relations with NSD in terms of EGM (Electronic General Meeting) and examining different aspects of issuing Iranian corporate bonds for the first time in Russia.

For his part, Mr. Melkumian expressed NSD's willingness in broadening relations and cooperate with CSDI on several directions - primarily the development of correspondent relations that would accelerate and manage mutual business relationship.

Central Securities Depositary of Iran has intensified efforts to connect the Iranian and Russian capital markets following a landmark Memorandum of Understanding CSDI sealed with National Settlement Depository of Russia earlier in April, 2018.

Release Date: 7/4/2018


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