Securities & Exchange Organization of Iran (SEO) signed MoU with Securities & Exchange Commission of Pakistan (SECP) on October 3, 2009.
Dr. Ali Salehabadi, President of SEO, and Salman Ali Shaikh, Chairman of SECP signed an MoU here in Tehran.
In this ceremony, Dr. Ali Salehabadi delivered speech about Iran Capital Market. He described the importance of CODAL system, noted the entrance of REITs in the market since 2008 and commencement of OTC operation. He also announced the market capitalization as $61 billion.
SECP has been established in 1997. Currently, three stock exchanges are operating in Pakistan namely Karachi, Lahore & Islamabad. Market capitalization of Karachi SE as the largest stock exchange in Pakistan is around $60 billion. Gold is the most important commodity traded in the National Commodity Exchange Limited (NCEL) of Pakistan.
Exchange of information, promoting cooperation level between the two esteemed authorities, offering new financial instruments, dual listing, holding joint trading courses, development of human resources, mutual support in joining international organizations and mutual investment in both countries are among the most important provisions of the MoU.
SEO has signed five MoUs with its counterparts and two educational MoUs in the last three years.