Tehran,Dec.17 (SENA) - Iran's parliament has passed a bill on reforming the country's banking system which many scholars believe to entail direct consequences for the capital market in one way or another. The chief of SEO says that the newly passed bill will result in cementing the capital market's position in the national economy and ought to be warmly welcomed.

According to the Securities and Exchange News Agency report, Shapour Mohammadi , head of  the Iran's Securities and Exchange Organization told the reporters that the newly passed bill contains numerous reforms and legal adaptations all of which are vitally important in smooth running of the both monetary and capital market in the country .However, one of the most salient points is the fine and clear delineation between the two aforementioned markets such that supervisory entities have clear and yet  well-defined jurisdictions as to the areas they should manage and supervise and that in my opinion is quite important to be considered.

"What is more, close collaboration between the central bank and SEO has been sought by the newly passed bill . That means endeavors such as issuance of financial instruments, management of credit lines and interest rates on investment deposits will be handled through close interaction and collaboration of the central bank of Iran and SEO which is extremely productive and efficient technically speaking. "SENA quoted Mohammadi as saying.

All in all a better collaboration and exchange of ideas between SEO,the central bank and the ministry of economy translates into more precise and practical solutions to be used in economic decision making processes, he concluded.


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