Iran’s capital market celebrated 50 years of work with much fanfareand focused on what unites monetary and capital markets to promote transparency in the financial conduct of businesses.
President and CEO of Central Securities Depository of Iran, Mr. HosseinFahimi, joined the ceremony to celebrate the occasion which took place with Economy Minister, MasoudKarbasian, Head of Iran's Securities and Exchange Organization, Mr. ShapourMohammadi, Governor of the Central Bank of Iran, ValiollahSeif and a gathering of mainstream capital market veterans and players in attendance.
The ceremony also unveiled a commemorative coin marking the 50th anniversary of Iran’s capital market operations to put forth the importance of honoring and learning from the lessons of yesterday’s experiences.
Developed and produced by the Central Bank of Iran, the coin was authorized by the Economy Ministry through legislation defined in the Monetary and Banking Law of Iran.
One side of the coin is titled “In Memory of Iran capital market 50th anniversary,” and shows a 50-Year Market Graph. A wheat stalk and a wheel are also featured there which signify abundance and economy respectively.
On the other side, the wheat stalks continue in a design with 5,000 Rials written of the coin.
In comments, Governor of the Central Bank of Iran, who heads the entity regulating the money market, said “transparency in the capital market is undoubtedly a prerequisite for the development of this market and promoting its role in the economy.”
ValiollahSeif said that transparency begins with the rules and regulations governing the market and then encompasses trade mechanisms and strong oversight.
He announced plans for the full adoption of the latest International Financial Reporting Standards (IFRS) standards for banks and said the regulator is willing to enhance cooperation with the SEO to promote transparency, which he said would ultimately benefit both the capital and the monetary market.
Release Date: 2/3/2018