3 banks are waiting in line to use the stock verification system – Tejaratnews
According to Tejarat News, Samieh Mohammadi, the manager of the Central Depository Company’s stock verification, said: The confirmation process in the Star system has been carried out through several correspondences from the Central Depository Company and the Ministry of Economy, and necessary measures have been taken to connect to the relevant services.
The Central Depository is obliged to carry out the relevant measures for the banks in the field of implementation of the verification services, and after the implementation of the verification services, the banks must provide the necessary information in order to inform the public.
He added: In the past year, many banks have corresponded with the Central Depository Company regarding the implementation of Star’s smart verification services, and the necessary cooperation has been done with them, but unfortunately, it has not yet reached the operational stage. Bank Saderat will soon make this service available to the public, and Mellat and Shahr banks also took important measures in this regard.
Mohammadi continued: The amount of pledged shares is at the disposal of the banks, which validate the assets based on the securities and pay a percentage of the validated assets. Endorsement with securities is one of the methods of financing for shareholders, who in this way find the possibility of financing for other needs while maintaining assets and benefiting from the benefits of ownership. However, this issue depends on the acceptance of banks and shareholders.
According to this report, the Star system was launched with the cooperation of the Ministry of Economy, the Stock Exchange Organization, the Depository Company and the Judiciary, and it made it possible for loan applicants to use other assets such as coins, property deeds, cars, SIM cards and life insurance as collateral in addition to pledging shares in this system. Applicants will not have many restrictions to use this system and they only have to register in the Sejam system and go through the authentication process.
There is a limit on the number of service banks
This system initially started with three national banks, Mehr and Resalat, but serving loan applicants was accompanied by difficulties, which caused some loan recipients to complain about the poor performance of banks in providing facilities.
In this regard, the Minister of Economy announced that 13 banks have applied for the use of this smart system so that people can use collaterals such as insurance policies or equity shares and other collaterals to receive loans online without introducing a new guarantor. Of these, four national banks, Saderat, Qarzul Hosneh Mehr Iran and Resalat Masal, are providing services to loan applicants.
Source: Senate