Iran’s market regulator keen to adopt int'l accounting standards (Exclusive)
Tehran, Iran, Feb. 5
By Kamyar Eghbalnejad – Trend:
Securities and Exchange Organization of Iran (SEO) has put the issue of adopting the International Financial Reporting System (IFRS) on its agenda in order to bring more transparency to the market, the organization's head told Trend.
Shapour Mohammadi, the head of the SEO, estimated that the volume of the foreign investment in the Iranian capital market stands at about 2 trillion tomans ($444.4 million at free market rates).
Saying that Iran’s ordinary membership in the International Organization of Securities Commissions (ISCO) would pave the way for foreign investors to enter the Iranian capital market, he added that the IFRS plays a key role in this regard.
The official further expressed interest in expansion of cooperation with the stock exchanges of the other counties.
Central Securities Depository of Iran is expected to pay more than 5 trillion rials ($116.2 million) of dividends over the current calendar month (starting on January 20).
Hadi Alipour, an official with the organization, earlier said that more than 5.7 trillion rials ($132.5) will be paid to the shareholders over the current month.
The maturity date of the bonds of Joopar Passenger & Freight Trains Co, Ministry of Education, RighTel Communications, Ghaed Basir Petrochemichal Products Co, Persepolis Tile & Stone Group fall in the current month, he said.
Main index of the Tehran Stock Exchange (TSE), the largest equity market of the country, surged by 12 percent over the first eight months of the current Iranian calendar year, compared to the same period of last year.
According to the latest statistics released by the Central Bank of Iran, main index reached 88775 points in the eight-month period ending Dec. 21.