TEHRAN- The head of the Securities and Exchange Organization (SEO) announced the possibility of the stock market reopening within the next 10 to 12 days, emphasizing that this will be done all at once, and a phased approach is not on the agenda.
According to IRNA, the capital market experienced numerous ups and downs over the past year due to political and international conditions, the effects of which still persist, despite one month having passed since 1405 [Iranian calendar year].
Hojjatollah Seyyedi stated in an interview with IRNA, that on March 9th, about 40 minutes after the start of the third imposed war, they immediately decided to halt capital market activity. This speed in decision-making stemmed from the experience of the 12-day war. Since it is said that every war or injury also presents an opportunity, the 12-day war provided a chance to review events and prepare for more difficult situations, so that in the months following the war, they could think about emergency issues or events like war, intensified sanctions and restrictions, and ways to resolve these problems.
He added that while the 12-day war was naturally surprising, it is not acceptable afterwards to say that everything is over. The ceasefire after the 12-day war was ambiguous, and the possibility of its violation existed at any moment. Therefore, our colleagues in research, legal, and issuer units of the Securities and Exchange Organization, in cooperation with financing institutions, funds, and legal entities, held weekly meetings. Eventually, after several months, they prepared a guideline on how the capital market should operate in emergency conditions. These meetings began in late July of last year, and in the autumn, a roughly 40-page guideline for special conditions was prepared in the Supreme Council of the Stock Exchange.
MA
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