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ECONOMY MINISTER URGES SEO TO SPEED UP FOREIGN BOND ISSUANCE

Securities and Exchange Organization has the essential duty to ensure shareholders of certain return on investment for it exerts direct impact on raising capital in the current market.

Iran’s Minister of Economy and Finance made the remarks during the first session of Supreme Council of Securities and Exchange since the new government took office in August. Masoud Karbasian reiterated that the administration firmly believes in the significance of the role the capital market plays in financing development projects, urging the SEO authorities to tap into all existing potential to that end.

Karbasian said: “Securities and Exchange Organization has the essential duty to ensure shareholders of certain return on investment for it exerts direct impact on raising capital in the current market.”

Elsewhere in his remarks, the Minister emphasized that debt securities require more efficient management supply system in the capital market and should get more organized, adding “It is essential that Securities and Exchange Organization should seriously consider plans to reduce the interest rate on debt securities and prepare the ground to provide for a more rational debt rate which would undoubtedly leave a positive and trustworthy influence on such big market volume.”

Karbasian went on to say that the emergence of an increasingly diverse set of investment tools and taking advantage of all legal capacity to develop deeper Capital Market is an inevitable is an inevitable consequence of worldwide improvements. Hence, it is on the SEO to do what it takes to promptly act to secure funding for those oil projects that are already agreed upon through issuing or selling foreign currency bonds.

Since taking office last month, Minister Karbasian has stressed on great potential of the country’s capital market, pledging to create opportunities, increase speed and transparency and provide depth to it, implement more effective growth strategies and attract more foreign investments.

Release Date: 9/26/2017


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