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SEO Review of 2021

In the last meeting of the previous Iranian year (ended March 20, 2022) with the press, Dr. Majid Eshghi, the SEO Chairman highlighted the SEO report for the previous year.

 

In the last meeting of the previous Iranian year (ended March 20, 2022) with the press, Dr. Majid Eshghi, the SEO Chairman highlighted the SEO report for the previous year.

-           Provision of resources: During the previous year, almost IRR 600,000 billion of capital have been raised through equity and debt securities issuance cumulatively. Moreover, about IRR 244,000 billion of mentioned amount belonged to debt financing.

-           Investment and brokerage companies and funds: In order to expand capital market services in the country and for financial inclusion reasons, the following initiatives have been taken within the last year: Issuance of 29 licenses to establish or convert financial Institutions into investment companies or holding companies, 15 preliminary confirmations for investment funds, 29 licenses to establish investment funds, and 25 licenses for the operation of investment funds. Furthermore, nine preliminary confirmations were issued to establish brokerage companies, of which, one establishment license has been issued for the first time after 12 years.

-           Financial institutions: Issuance of eight preliminary confirmations and six establishment licenses for portfolio management companies, three preliminary confirmations for investment advisory companies, one preliminary confirmation to establish an investment bank, and two licenses for the operation of data processing companies.

-           Institutional and regulatory development: Issuance of the first preliminary confirmation for Real Estate Investment Fund, the first underwriting, and license for operation of the leveraged investment fund and fund of funds.

-           Payment of Justice Shares’ dividends: a population of 43,665,321 are the owners of Justice Shares. The government is gradually paying the dividends. 

-           Enhancing Microstructures and Financing Function of Capital Market:

     Gradual increase in the stock price limits (+5,-5) which will be reviewed every quarter,

     Forming IRR 100 billion capital for start-up companies via the capital market,

     Listing the first capital market gold mine in Iran Fara Bourse (IFB),

 ●     Launching a trading board for Naphtha and Methanol Future Contracts in Iran Energy Exchange (IRENEX), and

     Setting a new office named as industry desk and issuers rating within the SEO,

-           Infrastructure and IT Development:

       Unveiling an intelligent system for monitoring and supervising the market,

       Holding general assemblies electronically (e-AGM),

       Designing and operating an intelligent system to supervise financial institutions,

       Designing the local trading system,

       Promoting the capital market integrity,

       Developing the listing system of the Tehran Stock Exchange (TSE),

       Enhancing whistleblowers’ system,

       Providing necessary infrastructure to collect data from companies’ insiders,

       Launching a system to collect criminal records of companies’ managers,

       Launching capital market data center in the TSE, and,

       Improving and enhancing Iran's capital market “Sandbox” besides Reg-Techs and Sup-Techs.

-           Ultra organizational executive measures: Reducing the income tax rate of manufacturing companies from 25% to 20%, exemption of listed companies to pay tax on capital raising through retained earnings, and fixing the formula for calculating the “state rights of mines”.

-           Research, training, and promotion of financial literacy: Implementation of the plan of training in cyberspace, development of the capital market professional certification exam system, designing and launching of Tabassum educational platform, and organizing the customer call center.