TEHRAN – The Money and Capital Market Committee of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) hosted a meeting with Securities and Exchange Organization (SEO) Head Majid Eshqi on Sunday to discuss the capital markets' current issues and challenges.

The meeting was attended by the members of the mentioned committee as well as the representatives of some of the companies active in the stock market, IRIB reported.

Lack of sufficient training for shareholders, facilitating the entry of new companies into the stock market, offering bonds by the capital market instead of banks to provide fixed and working capital for production units, accelerating the formation of credit rating companies in the stock market, and tax exemption for undistributed dividends of companies, as well as pricing problems, were some of the most important issues pointed out by the businessmen and officials attending the mentioned meeting.

Over the past two years, the government has been constantly taking action for supporting the capital market and various strategies have been implemented in this regard.

Last week, First Vice President Mohammad Mokhber announced that the Government Economic Coordination Headquarters has approved five new resolutions for supporting the stock market, and the directives in this regard have been sent to relative ministries.

The mentioned resolutions include the reduction of petrochemical feed prices, the reduction of interbank interest rates, the restriction of the sale of securities, the prevention of increasing government mining salaries, and the increase of the exchange rate of banks.

Also, Head of Iran’s Capital Market Development and Stabilization Fund Amir-Mahdi Sabaei has said that the National Development Fund (NDF) has deposited new resources into the stabilization fund to support the stock market.

Sabaei had previously announced the allocation of 120 trillion rials (about $430 million) of NDF resources for the Capital Market Development and Stabilization Fund.

EF/MA

Photo: SEO Head Majid Eshqi (3rd L)