TEHRAN- Iran will establish its first international bourse by the end of the current Iranian calendar year (March 19, 2020), managing director of Kish Free Zone Organization announced on Monday.

Gholam-Hossein Mozafari made the remarks in the first day of KISH 2019 INVEX (6th International Exhibition of Exchange, Banking, Insurance and Privatization and 11th Exhibition on Presenting Iran’s Investment Opportunities) being held on Kish Island in south of Iran during November 18-21, hosting 300 Iranian and foreign companies from 25 countries, ISNA reported.

Mozafari said that preliminary measures for setting up the international bourse are currently being taken by the government.

Putting emphasis on the significance of Iran’s financial and monetary markets, the official said that setting up an international bourse in the country will lay a proper ground for investment making.

Foreign investment attraction is very important for Iran under the current condition when the U.S. has imposed new sanctions against the country, and in this regard, the role that the free zones can play in attraction of foreign investment comes under the spotlight.

And to this end, establishment of international bourse in the free zones is a measure that has been seriously followed up in recent months.

Iran’s Free Zones High Council is laying the ground for this target and its secretary has announced that an investment guarantee fund will be set up to create more security for investment making in the free zones.

Being the fifth stock market of Iran besides Tehran Stock Exchange (TSE), Iran's over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), Iran Mercantile Exchange (IME), and Iran Energy Exchange (IRENEX), the international bourse of free zones is planned to be set up on Kish Island, south of the country, as announced by Morteza Bank, the secretary of Free Zones High Council.

MA/MA