Iran: 10 Private Companies Obtain Rating Permits

EghtesadOnline: Nine new private companies have been granted a permit by the National Rating Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture to officially operate in the area of credit rating other private companies, bringing the total number of active firms in the field to 10.

News ID: ۷۸۴۳۵۶

26 November 2018

The new rating firms licensed by the top private sector representative are Hafez Saman Iranian, Iran Standard and Quality Inspection Company, Pouyeshgaran Third Sector, Pars Kian Credit Rating Company, Houshmand Yeganeh Parsian Group, Techchi Sharq, Daya Rahyaft, Sahm Ashna and Iranian Company for Investments Studies.

They join Fahameh, which was previously the only credit rating firm to receive a license from the private sector entity, the news website of ICCIMA reported.

The news follows ICCIMA's recent announcement that it has launched an online system for integrating and facilitating the rating of domestic businesses, touted as among few systems in the country with the capability of amalgamating and analyzing detailed economic data based on international standards and local indices, Financial Tribune reported.

The system is able to exert online supervision over businesses, provide easy access to users, offer systematic analysis of data and reduce inefficient bureaucracy, the top private sector entity said last week.

Connected to the smart commercial cards system of the chamber and the rating system of the Central Bank of Iran, the system is slated to link up with other major systems such as the Customs Administration, the Ministry of Industries, Mining and Trade, the National Iranian Tax Administration and the Company Registration Office.

During a meeting last week in which the licensing of nine aforesaid rating firms was announced, Masoud Khansari, chairman of Tehran Chamber of Commerce, Industries, Mines and Agriculture, said the new licenses are a positive step, as the issue of effective rating has long been a topic of discussion in Iran.

"Fortunately, after much planning and effort to create unity and integration in this area, we managed to issue the first licenses and I hope this trend will continue," he said.

Khansari stressed the necessity of creating a mechanism to incentivize companies to work on resolving issues persisting in the area of rating.