TEHRAN- A single-window system, which was launched on June 30 to accelerate the process of private companies’ acceptance to the stock market, started the first stage of its operation on Sunday, IRIB reported.

As announced by the Public Relations Department of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), the companies could start registration in the system as of Sunday.

ICCIMA, Iranian Association of Internal Audits (IAIA), Tehran Stock Exchange (TSE), and Iran’s over-the-counter (OTC) market, known as Iran Fara Bourse (IFB), signed a memorandum of understanding (MOU) on June 30 for launching the single-window system.

The signing ceremony was attended by Finance and Economic Affairs Minister Farhad Dejpasand, ICCIMA Head Gholam-Hossein Shafeie, Head of Iran's Securities and Exchange Organization (SEO) Hasan Qalibaf, Managing Director of TSE Ali Sahraei and IFB Managing Director Amir Hamouni.

The MOU was aimed at creating a single portal for evaluating, assessing and monitoring the financial and technical situation of private sector companies for approving their entrance into the capital market.

As reported, the term of this memorandum is one year and will be extended if the parties agree.

Although the Iranian stock market is a newly developed market and people have only recently gotten acquainted with its activities, this market has been booming in recent years.

In the past Iranian year 1398 (ended on March 19), the performance of the Tehran Stock Exchange, which is the main stock market of Iran, was unprecedented, as its main index, TEDPIX, which had closed at 178,000 points at the end of the calendar year 1397, climbed to 512,000 points at the end of last year.

Many domestic companies have already offered their shares in the market, while much more are getting ready to join.

MA/MA