Ministry of Economy to organize securities issued outside the capital market

At the meeting of the Supreme Council of Securities and Exchange Organization, the Minister of Economic Affairs and Finance said that securities issued outside the capital market would be organized.

(SHADA: TEHRAN) -- Massoud Karbassian called on the directors of the Securities and Exchange Organization (SEO) to use all the capacities to increase the capital market share in the financing of projects.

The security of shareholders is a matter that should be among the main priorities of SEO because it directly relates to attracting people’s capital in the capital market, Karbassian said.

In another part of his remarks, the Minister of Economy pointed out the importance of organizing and managing the supply of debt securities in the capital market, and added: SEO should plan to reduce the interest rate on debt securities, which will definitely have a positive impact on the volume of this market.

Karbassian further said that the creation of diversity in instruments and the use of all legal capacities for development of the capital market are inevitable, and added: Therefore, SEO should try to act as soon as possible on the issue and sale of foreign currency securities to finance certain oil projects that have been agreed upon.

Meanwhile, Shapur Mohammadi, head of the Securities and Exchange Organization, pointed to the approvals of the council and said: It was approved that securities issued by the Central Bank outside the capital market should be organized.

He also described how to issue and sell foreign currency securities on the basis of budget rules aimed at accelerating the implementation of the country's oil projects, and said: The Central Bank will review the implementation of this resolution and will apply it in collaboration with the Securities and Exchange Organization.