Baku, Azerbaijan, June 14
Trend:
Iran has signed a cooperation document with China to issue sovereign bonds in the Asian country, aimed at attracting foreign investors.
Iran’s Securities and Exchange Organization (SEO) has signed a memorandum of understanding with China Securities Regulatory Commission in this regard, Shapour Mohammadi, head of the SEO said, according to the official website of the organization.
The MoU envisages mutual cooperation in various areas including experience exchange between Iran’s Mercantile Exchange (IME) and Energy Exchange (IRENEX) with four Chinese commodity exchanges, in order to boost import and exports between the two countries.
Connecting the Department of Research, Development and Islamic Studies of SEO with China Institute of Finance and Capital Markets, developing Islamic financial instruments for China, conducting comparative studies and transferring Iran’s experience in the regard as well as holding mutual training workshops with establishing a joint working group also are among the agreed issues between the two parties, he added.
The Iranian official further said that the sides also agreed on exchange of experience and technical know-how in the field of information technology and development of financial software, etc.
Securities and Exchange Organization of Iran (SEO) is the supervisory authority of Iran financial market that regulates activities of Exchanges, Associations and financial institutions. The SEO was established in 2006 after Tehran Stock Exchange demutualization.
The China Securities Regulatory Commission (CSRC) is an institution of the State Council of the People’s Republic of China, with ministry-level rank. It is the main regulator of the securities industry in China.
CSRC oversees China’s nationwide centralized securities supervisory system, with the power to regulate and supervise securities issuers, as well as to investigate and impose penalties for “illegal activities related to securities and futures”.