TEHRAN- South Korean Stock Exchange (KRX) has voiced readiness to offer Iranian securities, specifically Sukuk (Islamic Sharia-based bonds), Chairman of Iran’s Securities and Exchange Organization (SEO) Mohammad Fatanat announced in a press conference, IRNA reported on Monday.

Underlining foreign investors’ tendency towards purchasing Iranian securities, Fatanat added that on the way to their boost confidence in Iranian capital markets, the active companies in the market have been ranked according to their transparency and governance structures.

He also expressed content about the ever-increasing volume of the issued Sukuk, which shows a remarkable increase from 39 trillion rials ($1.11 billion) in the Iranian calendar year of 1392 (March 2013- March 2014) to its current 189 trillion rials ($5.41 billion).

As Iran’s Securities and Exchange News Agency (SENA) reported in mid-March, an Iranian delegation led by Fatanat visited Seoul to further implement the content of a bilateral memorandum of understanding signed between the SEO and KRX on October 22, 2015.

During the visit, the Iranian officials met a number of executives of the South Korean capital market, including the heads of the Financial Supervisory Service (FSS), Korea Securities Depository and KRX.

The two sides agreed to make strong efforts to build on already “well-established” relations to further improve bilateral cooperation. They also agreed to establish a system to link the capital markets of the two countries, enabling investors from each side to have access to the other side’s capital market under certain conditions.

HJ/MA