74837
2 Iranian Rating Firms Licensed
Economy, Business And Markets

2 Iranian Rating Firms Licensed

Securities and Exchange Organization of Iran, the country's stock market regulator, has for the first time issued permits for two Iranian private rating agencies.  
According to Tehran Stock Exchange's CEO, companies willing to act as a rating firm can apply to SEO to acquire licenses provided they have a foreign company as a partner, Fars News Agency reported.
“Rating firms can make certain financing tools much more appealing for investors and securities' issuers on the stock market,” Hassan Qalibaf-Asl was also quoted as saying.    

He did not, however, name the rating companies that have received licensing from SEO.  
“Expansion of various financing tools in international bourses urges us to enter international markets and get ready to benefit from the capacities in their markets,” he added.
The TSE chief emphasized that effective measures were taken to hold face-to-face meetings between experts of international capital markets and members of Iran’s capital market.
He noted that in these meetings, Iranian business owners and market players familiarized themselves with the latest changes in international bourses while acknowledging the necessity of entering international capital markets.    
The Iranian business community has been proactive in its approach, inviting top-notch consulting firms and rating agencies to explore the country’s potentials and help its economy bounce back after its long-running torpor.
In the past few months, representatives from such big names such as Deloitte, Fraser, EY and KPMG have visited Iran.

  Global Participation
Qalibaf-Asl emphasized that if the capital market goes international, it could eliminate a significant share of limitations for our economy.
“You need to be patient in international markets and keep researching the details to manage your financial activities, which help companies and businesses benefit from foreign finances at a higher pace,” he said.
The official also mentioned the necessity of diversifying financing tools alongside managing the capital market risks.
“Iran’s capital market has experienced proper developments in terms of financing tools such as issuing sovereign bonds,” he added, noting that these new tools enabled companies to increase their capital by floating additional shares while efficiently benefiting from the debt market.
Qalibaf-Asl mentioned foreign investment as a cheaper source of funding for companies that are listed on the stock market.
“Foreign investment has special regulations and conditions that companies can learn about in international conferences and meetings, but it is also a good way to significantly reduce financing costs,” he said.
The TSE chief noted that in the past two years, TSE and other arms of capital market devoted themselves to improving the infrastructure standards in line with international regulations, as there was no other way for capital market players to comply with international standards.
“About 65% of stocks in the bourses of London and Istanbul are in the hands of foreign investors and companies, and if we want to reach the same standing in our statistics, we need to improve the standards to pave the way for foreign investors’ participation,” he added.
Qalibaf-Asl reiterated that banks, insurance companies and other firms active in the stock exchange market and whose capital exceeds 10 trillion rials ($250 million) are obligated to preset their financial statements in line with International Financial Reporting Standards by Nov. 21.
“The process of preparing financial statements in line with IFRS regulations should be undertaken voluntarily by bank and companies, as they allow them to reduce their financing costs and have easier access to financing tools,” he said.   

Short URL : https://goo.gl/aW5gb9
  1. https://goo.gl/cyoguW
  • https://goo.gl/KCy9Kz
  • https://goo.gl/wgk2Qf
  • https://goo.gl/tPsjAK
  • https://goo.gl/4tz9w1

You can also read ...

Tehran Stocks Make Record Gains to Stand at All-Time Highs
Bulls are on parade in Tehran's equity market, and they are...
Aside from European countries, 70-75% of other countries are using EASA standards and regulations.
Plans are underway to update and implement new rules and...
People walk by the Paris branch of Bank Saderat Iran.
Bank Saderat Iran, which boasts the most expansive overseas...
Venture Capital Funds Essential to Startup Growth
Praising venture capital funds, Iran's Vice President for...
Gold Coin Bullish Despite Massive Supply
Despite several schemes by the Central Bank of Iran to satisfy...
Freak Plunge in Nintendo's Stock
Nintendo has been red hot for the past few years, but...
Tech Titans Trying to Kill Calif. Privacy Initiative
As data-sharing scandals continue to mount, a new proposal in...
Iran’s Share in Global Sheepskin Exports at 5%
Iran has a share of 5% in global sheepskin exports and a 1%...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus