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Department of Supervision on Financial Institutions

This department consists of three offices and main duties include organizing affairs of financial institutions except brokers. Such duties include granting permits to such institutions, supervising and inspecting them and issuing, suspending, extending or canceling professional certificates in compliance with rules and regulations. All financial institutions except for brokerage firms intending to operate in the capital market or extend their scope of activities have to receive their licenses from this department and their articles of association need to be approved by this department. The number of active financial institutions at the end of 2015 compared to 2014 is demonstrated in the following table.

Financial institutions

2014

2015

 Brokers  
107
 108

Investment banks

8

9

Financial advisers

10

13

Portfolio managers

5

9

Data processing companies

5

5

Investment and holding companies

121

133

Total No. of active institutions

19

169


Capital market funds

2014

2015

Fixed-income

34

41

Stock

87

88

Hybrid

13

13

Total No. of mutual funds

134

142

 

Fixed-income

0

2

Stock

4

8

Hybrid

2

4

Total No. exchange traded funds (ETF)

6

14

 



Mr. Mohammadreza Motamed
Head, Department of Supervision on Financial Institution