Iranian capital market would benefit from int'l co-op (Exclusive)
Tehran, Iran, April 24
By Kamyar Eghbalnejad – Trend:
Iran has expressed interest in becoming a member of the Association of Certified International Investment Analysts (CIIA), a move aimed at widening capital market cooperation with outside world.
The general-secretary of Iranian Institutional Investors Association, Saeed Eslami Bidgoli, has said that the organization will decide on Iran’s membership during its upcoming annual assembly to be held in the coming months.
Describing lack of proper relation with foreign counterparts as the main shortcoming of the activity of Iranian Institutional Investors Association, he said that cooperation with such organizations would remove such obstacles.
Iran’s equity exchange and the over-the-counter market saw a return on investment of 25 percent over the last fiscal year (ended on March 20), the market regulator said.
“The rate of return on investment in the Tehran Stock Exchange (TSE) and Fara Bourse over the last year hit 25 percent with the value of trades reaching 247 trillion tomans ($58.8 billion) in the fiscal 2017/18 from 195 trillion tomans ($46.4 billion) in 2016/17,” Head of Securities and Exchange Organization (SEO) Shapour Mohammadi said at the opening ceremony of an exhibition on insurance and capital market in Tehran.
Expressing hope that the capital market would see further growth over the current fiscal year, he added that the market software and also its regulations were reformed over the past year.
The main index of the Tehran Stock Exchange (TSE) surged by 26.5 percent over the first 11 months of the last Iranian calendar year (started March 20) compared to the same period of last year.
According to the latest statistics released by the Central Bank of Iran, the main index reached 98149 points in the 11-month period ending Feb. 19.