Bilateral transactions will start today – Tejaratnews
According to Tejarat News, the opening ceremony of the international exhibition of the financial industry (stock exchange, bank and insurance) was hosted by the head of the stock exchange organization today at the place of international exhibitions in Tehran. In this event, Majid Eshghi, emphasizing the importance of financial literacy, announced the launch of an opinion polling center in the context of the capital market and said: “Based on the results of the opinion poll, we are putting planning for the development of financial literacy on the agenda and we are even trying to teach financial literacy lessons. It should be included in education textbooks.
Emphasizing the special position of the private sector in the financial industry, he said: the majority of capital market services are provided by the private sector. Most brokerages, investment funds and portfolio managers are owned by the private sector.
Eshghi said: If we compare with 10 years ago, the top 10 brokers in the field of brokerage were either banks or public sector, but now their foothold has weakened against private companies.
The head of the stock exchange organization said: “The discussion of privatization in the financial industry has gone in a good direction, and they provide diverse services with high productivity to the people.” Also, in the past few years, most of the financial innovations have been from the private sector and have provided colorful services. The stock exchange organization also supports this promotion.
The role of the capital market in economic development
Eshghi went on to examine the role of the capital market in economic development and said: increasing people’s participation and popularizing the economy is the goal of the capital market. This year’s special work has been the acceptance of the private sector in the capital market and helping to grow production. Also, financing through the issuance of Islamic financial securities and corporate debt securities by the private sector on the stock exchange and non-stock exchange is also on the agenda and continues.
The head of the stock exchange organization stated: Acceptance of private companies is the priority of the stock exchange and over-the-counter, as we have seen this year, an initial offering has been made every week and this process continues. Also, making regular trips to economic provinces and familiarizing with market activists and tools are on the agenda.
Eshghi continued to emphasize on targeting financing for large companies with high credit rating and speeding up the capital increase of companies and added: Electronicizing the acceptance and financing processes and issuing bonds is one of the organization’s priorities.
The head of the stock exchange organization also announced the training on how to issue debt securities and said that Sukuk Plus will be unveiled today. Also, supplementary retirement funds will start working in this exhibition, which have been formed with the help of the private and public sectors of the market.
It should be noted that the International Financial Industry Exhibition is open to companies active in the financial industry and those interested in this field from today to the 19th of June at the permanent location of Tehran International Exhibitions.