TEHRAN – Head of Iran’s Securities and Exchange Organization (SEO) Majid Eshqi has said his organization’s current priority is to attract capital for the country’s private sector, IRNA reported.

“Our approach in the capital market is to create the basis for the active presence of the private sector in the market to attract the financing they need to achieve their economic goals,” Eshqi stated.

According to the official, if there is continuous communication between the private sector and the capital market the country’s economy will be transformed.

Touching upon the activities of the Iran Mercantile Exchange (IME), the SEO head noted: “Our policy in the Iran Mercantile Exchange is also not just creating competition but we seek to provide suitable solutions for the development of activists in this important field in the country.”

Eshqi had earlier said that SEO will formulate, implement and monitor its policies and programs including supporting investors, creating a transparent, efficient, and equitable market, and reducing inclusive risk based on the market’s broad objectives.

Outlining SEO’s main strategies in the current year, Eshqi said: “The first strategy is to use modern mechanisms to increase public monitoring of the entities offering shares in the market; the second strategy will be to develop regulatory tools in a preventive manner and in line with market development.”

According to the SEO head, the third strategy is to amend the market’s rules and regulations to increase justice and accountability, while the fourth strategy will be strengthening the medium- and small-scale level financing through new mechanisms.

Facilitating the processes and developing the infrastructure for attracting and managing capital in the market, along with engineering the media mechanism to provide the shareholders with up-to-date information are the fifth and sixth strategies, the official said.

The last strategy is to re-engineer the new generation of technical infrastructure with the aim of increasing security, sustainability, and ease of access.

Eshqi further noted that based on the strategies mentioned above, which have been developed taking into account the most important challenges of the capital market, various programs have been prepared.

EF/MA