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The Appointment Of Dr. Ali Salehabadi As The New Secretary General Of The Tehran Stock Exchange

Date 24/12/2005

The Board of Directors of the Tehran Stock Exchange (TSE) has appointed Dr. Ali Salehabadi as its new Secretary General on November 21, 2005.

Dr. Salehabadi, in his new role as the Secretary General of the TSE will be responsible for heralding new developments at the TSE to increase regulation and full disclosure of material information by the listed companies; initiate new listing criteria for applicants wishing to be admitted to the TSE; introduce new trading instruments through new and innovative technological advances; promote a better investment climate; encourage a new regulatory framework regarding absorbing foreign investment and participation; and extend the international presence of the TSE.

Dr. Salehabadi’s insight and experience in the fields of finance and economics make him an outstanding candidate to lead the TSE into a new realm of trading at the TSE. The growth of the TSE into a truly international market will constitute an important goal not only for the TSE but also for the investment community.

Although the TSE has been only fairly active in the previous decade after the revolution, the TSE continues to be amongst the best performing markets both in the Middle East and around the world despite the global downturn in equities markets in recent years. Dr. Salehabadi welcomes the challenge of building upon such a strong foundation and increasing the TSE’s visibility by introducing a new regulatory framework as well as the possibility of new initiatives to benefit both listed companies and investors alike.

Dr. Salehabadi succeeds Dr. Hossein Abdoh Tabrizi, who had held the position since May 2003. Dr. Abdoh Tabrizi will continue working in Iranian financial and capital markets.

Dr. Salehabadi has professional and academic experience in the fields of Islamic finance, investment management; and financial engineering and securities risk management. He started his executive career in the capital market in 1999, in “investment department” of Ghadir Investment Co – TSE’s largest listed company. He appointed as the Director of TSE Karaj Floor in mid-2004 before electing as the Secretary General of the TSE. During his academic pursuits, he has published numerous research plans, reports and articles on various topics related to different theories on capital market, especially in the field of Islamic capital market instruments; both in domestic and international journals.

As a university professor, he also participated in numerous Seminars.

Dr. Salehabadi holds a Ph.D. in Finance from Tehran University.