De­tails of es­tab­lish­ing intl. bourse in free zones an­nounced

Tehran Times - - ECONOMY -

TEHRAN— Ad­vi­sor to the head of Iran Se­cu­ri­ties and Ex­change Or­ga­ni­za­tion (SEO) an­nounced the de­tails of the es­tab­lish­ment of the in­ter­na­tional bourse in the coun­try’s free zones, IRNA re­ported on Satur­day.

“Re­gard­ing that most of the nec­es­sary steps to in­au­gu­rate in­ter­na­tional bourse in free zones have been taken by the present time, it seems that the cab­i­net will ap­prove its im­ple­men­ta­tion be­fore the yearend (March 20, 2019)”, Ba­hador Bi­jani said.

Iran’s Free Zones High Coun­cil sub­mit­ted the draft bill on es­tab­lish­ment of in­ter­na­tional bourse in the coun­try’s free zones to the eco­nomic com­mit­tee of the par­lia­ment on Jan­uary 7.

The par­lia­ment will send the draft to the cab­i­net af­ter­wards.

This draft was pre­pared through co­or­di­na­tion be­tween Free Zones High Coun­cil and SEO and then it was ap­proved by the Supreme Coun­cil of Se­cu­ri­ties and Ex­change and af­ter that the Cen­tral Bank of Iran (CBI).

Es­tab­lish­ment of in­ter­na­tional bourse in the free zones is con­sid­ered as a new po­ten­tial for the at­trac­tion of for­eign cur­rency re­sources es­pe­cially for­eign in­vest­ment in the coun­try and it will pro­vide fi­nan­cial re­sources for many projects and eco­nomic ac­tiv­i­ties.

An in­ter­na­tional bank will con­duct tran­si­tions re­lated to this bourse and an in­ter­na­tional body will su­per­vise its ac­tiv­ity.

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