Iran, S Korea to bind financial markets

News ID: 3979030 -
TEHRAN, May 15 (MNA) – CSDI CEO has reported on formation of a special working group to connect financial markets of Iran and South Korea.

Mohammad Reza Mohseni, Chief Executive Officer and Board Member of Central Securities Depository of Iran (CSDI), said in the past two years several negotiations had been held with the Korean side over linking the two markets adding “the base mode for binding financial markets of Iran and South Korea through Islamic treasury bills is in the final stages and would be implemented in the near future in case restrictions on exchange and interbank transactions are eliminated.

Yet another measure taken by CSDI pertain to cooperation with Greece’s Hellenic Central Securities Depository and Athens Stock Exchange (ATHEX Group) aimed to develop a joint operating model between Iran and Greece capital markets, said Mohseni.

The official said various models including Exchange-traded funds (ETFs) have been designed to connect the two markets and Bank Mellat will hopefully provide proper grounds for monetary and banking affairs of the joint venture.

Head of Central Securities Depository of Iran (CSDI) also called for formation of two working groups to develop a system for payment and settlement of transactions aimed at hedging against risks and joint collaboration to enhance international relations.

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