Foreign presence in Iran's capital market facilitated after JCPOA

EghtesadOnline: Head of Iran's Securities and Exchange Organization (SEO), Shapour Mohammadi, said on Tuesday that foreigners' presence in Iran's capital market has been facilitated after the Joint Comprehensive Plan of Action (JCPOA).

News ID: ۷۳۹۶۹۹

08 February 2017

Mohammadi told reporters that the major portion of the foreigners is from the neighboring states or the German speakers, whose share in the stock market is more than 12,000 billion rials.

He said Iranian capital market witnessed presence of foreigners even when sanctions were in their climax because capital turn-over governed the economy and Iran’s forex market enjoys good turnover long-term, ILNA reported.

The official said Iranian capital market potential, especially in the energy and mineral domain is very high and that’s attractive for foreigners. “Foreign investors pay attention to the existing opportunities and turnover and deal with the issue rationally.”

“The JCPOA helped certain foreign investors enter Iranian stock exchange market so easily and the SEO in turn has taken measures for transfer of sums within short period of time.”

The official said measures have also been taken to open accounts for foreigners. The issue was initially raised in the Money and Credit Council and after receiving consent of the Council it was sent to the Money Laundering Center, he said, adding that furthermore, long-term strategies are taken for the purpose.

He disclosed a deal between the SEO and Germans and said the Organizations have had technical cooperation with South Korea, India and Sweden in capital market.

Mohammadi said the SEO has also good relations with Malaysia in terms of financial Islamic tools.

As for the impact of US President Donald Trump’s moves on the country’s capital market, he said people in every part of the world show reaction to the extremist approaches, including appropriate action of certain judges of the US courts in the past days.

He noted that engagement with the world economies is stabilizing for any country.

The SEO is to provide and facilitate opportunity for presence of all industries in the capital market, said Mohammadi.