Iran, Brazil bourses to ink MOU
The Securities and Exchange Organization of Iran president left for Rio de Janeiro on Tuesday to sign a cooperation MOU with the biggest South American financial market.
IRNA news agency reported that during his stay in Brazil in addition to signing an MOU with the Brazilian Securities and Exchange Commission (CVM), he will visit and hold talks with managers of SAO PAULO Stock Exchange (BM&F Bovespa).
The main items stated in the memorandum of understanding include the exchange of information, an increase of cooperation between bodies supervising the financial market, issuing bonds, holding mutual training courses, developing human resources, removing obstacles for investing in both countries and supporting each other for membership in international bodies and organizations.
The value of SAO PAULO Stock Exchange in September 2009 reached $1.153 trillion. It is the biggest stock exchange in South America.
The Securities and Exchange Organization of Iran has signed five cooperation MOUs with bourse officials in Malaysia, Indonesia, Kyrgyzstan, Oman and Pakistan in the past two years.
This Organization has also inked cooperation agreements with the Islamic Development Bank and the Malaysian International Center for Education in Islamic Finance.