Dr. Shapour Mohammadi, the new SEO Chairman, went over the most significant missions the SEO will try to achieve in the future. Dr. Mohammadi categorized these targets into different realms ranging from the compliance with the Islamic Sharia to the development of new financial instruments and institutions.
Above all the priorities, the SEO will as always comply firmly with the Islamic principles in terms of developing novel instruments. The SEO will follow the rules and regulations while looking to the demands of the capital market institutional and individual practitioners with reciprocal respect to win their trust. Dr. Mohammadi pinpointed that this objective will be accomplished by the professional assiduity of the relevant staff in the SEO while looking at the future positively and learning from the past experiences.
Moreover, Dr. Mohammadi mentioned that the cynosure of the entire activities in the SEO will be to enhance the market liquidity and transparency while covering operational risks to pave the way for current and also potential investors to benefit from the unique opportunities in the capital market.
He went on to say that the SEO in the days to come will do its best to tangibly increase the share of the capital market in financing, more specifically, financing for private sector rather than for governmental sector.
In the final section of his points, Dr. Mohammadi probed into the future plans incised in the agenda of the SEO. He told that the SEO will do the required analytic and comparative studies for developing novel financial instruments and institutions, for instance, credit rating agencies. The SEO will also create the already-present practices in developed markets such as short selling within the framework of the Islamic Sharia.
Furthermore, the collaborative ties with the parliament and also the banking supervisory and regulatory authority, Central Bank of Iran, will be expanded so that the germane bottlenecks are successfully overcome. In addition, the SEO will try to find and locate the red tape in the daily processes of the capital market and cut them through different ways, one of which is de-regulation. This way, the new wave of the foreign investors will rush to Iran to tap into the market.
The internationalization of the capital market has been one of the items on the SEO’s agenda. The SEO, as it has already started, will more expand its interactions and mutual cooperation with its foreign counterparts. This will help other financial market authorities in the world get better hold of the opportunities in the Iranian capital market.
All in all, Dr. Mohammadi saw a positive prospect for the Iranian capital market and promised that the investors and entities active in the market will experience a tangible and palpable boom and new developments in the market very soon in the future.