A high-level Iranian delegation from the Securities and Exchange Organisation (SEO) has attended the first 3 day meeting of the liaison committee at the Securities and Exchange Commission of Pakistan (SECP). Iranian SEO delegation agreed to extend support in the areas of regional cooperation on Islamic products, coordination between market intermediaries of the two countries, synchronisation through credit-rating agencies, cross listing of securities and road shows for awareness of investors of both countries.
Board member and Deputy Executive Affairs Dr Ali Saeedi, Head of International Division Public Relations and International Affairs Karim Karimi, SECP Commissioner Imtiaz Haider and SECP Executive Director Akif Saeed, held extensive discussions. The delegates were also briefed on the working of the SECP and of the Islamabad Stock Exchange. They also had informal discussions with the senior officials of the Karachi, Lahore and Islamabad Stock Exchanges by the SECP Chairman. The officials of the Iranian embassy and of the Ministry of Foreign Affairs and CEOs of Iranian companies working in Pakistan were also present on the occasion.
The committee was formed subsequent to the 2009 signing of a Memorandum of Understanding (MoU) on facilitating cooperation and sharing of information between the two organisations. The capital market of Iran, with two exchanges, 340 listed companies and 3.4 million investors out of which 1.4 million are active, is very vibrant. All the products traded in the Iranian capital markets are Shariah-compliant with clearance from the Shariah Advisory Board.
