TEHRAN – Iran’s Securities and Exchange Organization (SEO) is moving to revive its long-delayed international stock exchange project in the country’s free trade zones through renewed collaboration with the Free and Special Economic Zones High Council.

In a joint meeting held in Tehran, top officials from the SEO, the council’s secretariat, and various economic and investment institutions discussed extending the operational license for the international exchange, reviewing domestic and foreign shareholder structures, and evaluating the required trading infrastructure. The meeting concluded with a consensus on accelerating the relaunch of the initiative.

According to the SEO Head Hojjatollah Seyedi, the groundwork for launching the international exchange is largely complete, with the necessary trading and settlement infrastructure already in place. “The remaining task is to create the right conditions for market operations and formal listings in accordance with the approved regulatory framework,” he said.

Seyedi stressed three key aspects of the project—licensing, shareholder composition, and infrastructure—none of which he sees as obstacles.

He underscored the need for a professional shareholder base, favoring financial institutions over commercial or industrial companies. “Long-term experience shows that non-financial entities can disrupt the stability of exchange operations,” he noted.

He also warned against concentrated ownership, saying that no single person or institution should hold a dominant stake. “Successful models are built on widely distributed ownership among credible financial institutions,” he added.

Seyedi welcomed foreign investors, provided they are qualified financial entities and adhere to Iran’s legal and financial framework.

“We are ready to vet proposed domestic and foreign shareholders to ensure a stable, professional, and scalable governance structure,” he said.

Reza Masrour, Secretary of the High Council of Free and Special Economic Zones, called for prompt resolution of remaining administrative hurdles.

“This is a national-level project, not just limited to free zones. Despite persistent efforts in recent years, progress was stalled. With renewed coordination from the SEO, we are committed to pushing it forward,” he said.

Masrour noted that the original regulations for establishing the exchange were approved in 2018, and its preliminary license was issued in 2023. However, the nine-month validity period for the license has expired.

“We propose extending it to two or three years to ensure enough time for full-scale implementation,” he added.

The meeting included representatives from Iran’s Foreign Investment Company (IFIC), Iran Currency and Gold Exchange, Organization for Investment, Economic and Technical Assistance, and other private investment advisory firms.

The revival of the international stock exchange is part of Iran’s broader strategy to attract foreign capital, deepen financial markets, and enhance the global competitiveness of its free trade zones.

EF/MA

Photo: SEO Head Hojjatollah Seyedi (L) and Free and Special Economic Zones High Council Secretary Reza Masrour