TEHRAN, Iran, Aug.23
Trend:
A spokesman for the Islamic Republic of Iran Shipping Lines Group (IRISL) has indicated the capital market is the fastest solution for economic problems and transparency in big companies and holdings.
The capital market would display the performance of companies for people, experts, and monitoring organizations, Ali Ghiasian told Trend in an interview.
The economic expert has noted public participation in the interest of companies via capital market would create sensitivity in their function and companies should provide a convincing response to shareholders.
In addition to that, the companies should provide annual, six-month and trimester, and monthly reports consistently to the Codal system so people and micro and macro shareholders could easily monitor companies' situations.
"These actions could provide transparency to professional auditors and analysts of the Securities and Exchange Organization so in case of wrong information the violating companies would be identified," he said.
Companies' presence in stock exchange and development of capital market reduces fraud and increases the buoyancy of the capital market and in long term transform this market into an attractive market for investment.
"One of the biggest problems in Iran's capital market is the issue of converting stocks into cash," Ghiasian noted
Meanwhile, the government has moved toward the assignment of its public companies at the stock exchange and created the bigger ground for the capital market so in this situation the market can have more liquidity than its current state.
He noted that one of the important plans of the thirteenth government is taxes on gains from stocks that aim to attract resources for the capital market and prevent liquidity from being abused.
The new government is very persistent on this decision and it should increase capital market buoyancy to prevent a bubble in the market that previously occurred in the last Iranian year (started March 20, 2020).
It is expected that the government would implement its targets to expand the capital market and transparency that is the economy's urgent need.