37177
TSE Mulls New Indices to Boost Foreign Investors’ Trust
Economy, Business And Markets

TSE Mulls New Indices to Boost Foreign Investors’ Trust

Tehran Stock Exchange is in the “late stages” of compiling a new index, ranking companies according to their transparency and governance structures, its CEO said on Wednesday.
It is a rare move for a stock exchange and one intended to boost confidence among foreign investors in Iranian capital markets, according to the UAE-based weekly business magazine Arabian Business.
Iran is ramping up efforts to attract foreign investment now that restrictive sanctions have been lifted.
Speaking during a conference in Muscat this week, Tehran Stock Exchange CEO Hassan Qalibaf-Asl said the Iranian capital market was “one of the most liquid” in the region but mainly comprises local investors at present.
“It would benefit from increased contributions from foreign investors,” he said.
Behzad Golkar, CEO of Iran’s Sina Financial and Investment Holding, one of the biggest conglomerates in the country, reiterated Qalibaf-Asl’s calls.
“The Iranian capital market needs fresh blood,” he said.
However, even if sanctions have not applied to them, foreign investors have historically been shy of investing in Iran and Qalibaf-Asl said greater efforts were needed to secure their trust.
“Transparency is actually very strong in Iranian capital markets,” he said. “But based on [the notion that] it is a company’s own responsibility to ensure this, [Tehran Stock Exchange] has started a new project–not yet finalized but in the late stages–to rate listed companies, according to the corporate governance and transparency structures they have in place.
“We will then publish a new index based on this ranking. We think this will be important in increasing foreign investment in Iran,” he said.
Qalibaf-Asl noted that the exchange also plans to create a market for foreign exchange-dominated securities–not shares–to further incentivize foreign investment.

Short URL : http://goo.gl/VMgNnk
  1. http://goo.gl/F7ugOA
  • http://goo.gl/hIhkFx
  • http://goo.gl/tcTMVu
  • http://goo.gl/S0oaPC
  • http://goo.gl/QPKajB

You can also read ...

Iran Petrochemical Revenues at  $5.5 Billion in Six Months
Iran exported $5.57 billion worth of petrochemical and polymer...
Calm Housing Market Forecast for Tehran in Fiscal H2
The Iranian housing sector, which has just entered a pre-boom...
OIC is an international organization consisting of 57 member states.
The countries of the Organization of Islamic Cooperation...
Iran Fortifies Ties With IDB, Malaysia
Minister of Economic Affairs and Finance Masoud Karbasian met...
Private banks and non-bank credit institutions held the biggest share of foreign assets among Iranian financial institutions.
The total value of Iranian banks’ foreign assets by August 22...
Ahmad Araqchi (R) meets Alexey Tyupanov
The Central Bank of Iran has signed an agreement with the...
In Iran, import tariffs on apparel are set at 55%, apart from a 9% value-added and an additional 4% tax.
About 1,840 tons of apparel worth close to $22.75 million were...
Upswing in  US Dollar
The US dollar, the most widely traded currency in Tehran’s...

Trending

Googleplus