Loan guarantee process by stock exchange
According to Tejarat News, it was on the fifth day of August that the stock verification system, or Star, was unveiled in the stock exchange organization. Based on this, from now on, stock market shareholders can take loans by endorsing shares of stock companies and units of investment funds that can be traded on the stock market.
On the other hand, Ehsan Khandozi, Minister of Economy, announced that currently only three national banks, Resalat and Mehr of Iran, give loans with the endorsement of shares, but the number of these banks will increase in the future. In addition, according to the instructions of the Central Bank, the maximum loan amount that can be received with this method is 200 million Tomans.
Procedures for stock validation for loans
Samia Mohammadi, product manager of Central Depository Company’s (SAMAT) electronic verification project, told Tejarat News about the smart verification process of shares for the general public: Shareholders should first take the relevant measures in the bank. After that, the shareholder goes to the capital market service page and selects the confirmation service. Shareholders can benefit from these benefits by registering their information in the comprehensive customer information system and being registered.
He continued: After entering the verification registration page, they will receive a one-time password, the password will be sent to Sajami’s mobile number. Some kind of authentication is done, after validating the one-time password they see the verifiable asset. Selects the entire asset or a part of the verifiable asset and is redirected to the central depository company page.
The product manager of the electronic verification project of Samat stated: On the page of the central depository company, the shareholders confirm the necessary conditions after careful reading and pay the fee. Finally, they are redirected to the bank page.
Mohammadi explained: All services related to smart authentication are provided during working days and hours. At the end of the working day, all requests from the operating banks are sent to the central depository company. After checking and processing, the result will be sent to the respective banks on the next working day.
What are the terms of stock validation?
This official said about the conditions of stock approval: shareholders should not have restrictions on the so-called stock freeze. Also, the asset can be traded and deposited, and they do not have assets that have been seized and confirmed in advance.
In the end, the product manager of the Samat electronic verification project stated: Shareholders should pay attention to the fact that after accepting the obligations and conditions, if the shareholders fulfill their obligations within that specified time period, the verification operation will take place. But if he does not fulfill his promises and default occurs, the assets of the shareholders will be sold according to the bank’s terms.