Speaking about internationalizing Iran's capital market, Bahador Bijani, Deputy Chairman of Stock Exchange Organization in International Affairs, made the remarks that internationalization of capital market is beyond the presence or attraction of foreign investors, adding to achieve and complete this aim, steps should be taken and one of the steps is two-side access.
He pointed we should have access to international markets and vice versa. "Moreover, having interaction and promoting standards are significant," Bijani stated.
"Our role in international decisions is another point and we should take a step for having international capital market", Deputy Chairman of Stock Exchange Organization in International Affairs said.
"It is necessary our partners that is Ministry of Economy, Central Bank, Iran's Chamber of Commerce, Privatization Organization, Organization for Investment Economic and Technical Assistance and also Iran's Financial Center help us to obtain this goal" the official said.
Regarding Custodian project, Bijani said one banking issue is Custadian project and Central Depository has started negotiations with some domestic banks to implement this project as soon as possible.
He emphasized that by implementing Custodian project, which links Iran's capital market to Greece, Iran can have access to more than 30 significant markets across the world. Central Depository pursues Custadian project by defining the role of a broker bank.
Deputy Chairman of Stock Exchange Organization in International Affairs voiced a project like Custadian can flourish Iran's capital market.
He went on, noting another challenge on the way for internationalizing the capital market is the lack of determining Iran's credit rating, realizing this objective needs to have cooperation with entire Iranian financial organizations.
Bijani said being in touch with supervisory authorities of other international markets is one of ways for internationalizing capital market, adding Iran's Stock Exchange Organization has aimed some capital markets in this regard and one of them is Germany and an agreement was inked in previous September with German supervisory authority of capital market and also a meeting was held with Germany's officials stock two months ago.
Deputy Chairman of Stock Exchange Organization in International Affairs reported a deal was signed with Indian supervisory of authority in capital market, adding during the negotiations with Indian supervisory of authority in capital market, some projects were defined and one one of them is joint platform of Iran-India's commodity stock opened in Kish exhibition.
