Addressing the forum, the CEO of Securities and Exchange Organization (SEO) Dr. Shapour Mohammadi highlighted the goals of the forum and performance of the SEO for operationalizing Islamic capital market in the country, assuring the participants that all rules and regulations of Iran’s capital market is according to the Islamic sharia.

IRAN NEWS ECONOMIC DESK

He then pointed to the process of forming a jurisprudence committee in Iran’s capital market, adding that the committee started its job in 2007 and since then, it is monitoring all activities of Iran’s stock exchanges, and financial tools without the approval of the committee are not allowed to be used. He went on to say that Securities Exchange Organization does its best to take into consideration all jurisprudence issues in the capital market.

Mohammadi reiterated that all process of a trade from the start to its end are monitored by the committee and in case something vague and ambiguous happens in the trade, all refer to the decisions of the committee.

He reiterated all diverse financial tools in Iran’s capital market like sukuk and other bonds are based on sharia and they have been adjusted with other financial tools in the world.

Mohammadi went on to say that the number of joint funds for investment has reached 211 and stocks of more than 600 companies are traded in the stock market.

Meanwhile he reiterated that the national capital market is in favorable condition and the market has enjoyed  a good stability in recent months.

He added that some forums and meetings like the current one can help those who are involved in the capital markets in the Islamic countries invest in Iran.

On the joint financial markets among countries, Mohammadi said issue of joint market is actually pursued through negotiations between Iran with other stock markets like Istanbul and those companies which are active in Iran’s stock market are shown at Istanbul Stock Market and those companies which are active in Istanbul stock market are shown in Iran’s stock market.

The two-day forum which is underway in Tehran will wrap up in Tehran today.  28 foreign guests from 15 countries have attended the forum. Guests from Italy, Spain, Qatar and Morocco have participated in the forum for the first time. This year’s event is aimed at developing the Islamic financial tools.