In accordance with IRNA, throughout the previous 12 months, the capital market has undergone essential adjustments and information in varied financial, political and social fields, together with sectoral choices, contractionary financial insurance policies and rate of interest will increase, widening of the hole between the nominal alternate price and the free market alternate price, necessary pricing and Additionally, the way of notification and the retroactiveness of the directions had been positioned, that these occasions occurred aspect by aspect regardless of the in depth efforts and follow-up of the inventory alternate group to guard the rights of shareholders, however these negligences resulted within the discount of buyers’ confidence, capital outflow and inventory market crash.
The intensification of inventory alternate transactions and the concern of shareholders about coming into their capital into this market led to the great assist of presidency officers to the inventory alternate group to control this market and amend the directions that had been issued, which had severely affected the buying and selling strategy of this market. In continuation of the actions and cooperations carried out by the federal government, the Supreme Inventory Alternate Council and the Securities and Alternate Group, according to the mission assigned to it by the mum or dad and upstream legal guidelines and with the intention of defending the rights of the final shareholders and growing transparency, follow-ups He put seriousness on his agenda.
Most of those follow-ups got here to a good conclusion with the assist, assist, and constructive view of the heads of the three forces and associated establishments, which finally led to the well timed resolution of the federal government to amend the rules and cut back the market volatility.
On this report, an outline of crucial latest developments and efficient choices of the present ministers and presidents within the thirteenth authorities is given, which you’ll be able to learn beneath.
Modification of “Clause S of Observe 6 of the Finances Regulation of 1403”
“Clause S Observe 6 of the Finances Regulation 1403” was one of the vital essential points that severely affected the inventory market transactions previously few months and had important results and penalties on all sectors of the capital market.
This tax clause, which was not included within the invoice proposed by the federal government to the parliament and was included within the price range invoice of 1403 beneath the affect of the choice of some members of the parliament, was strongly protested by the officers and activists current within the capital market, and the sharp fall of the market beneath the affect of this tax resolution, authorities officers Amongst different issues, he urged the Minister of Financial system to place the required choices on this subject on the high of their pursuits as quickly as doable concerning the modification of this entry tax clause.
The well timed arrival of the Minister of Financial Affairs and Finance and quite a few negotiations performed by the federal government and the parliament led to the truth that after referring the model of the required amendments to the Guardian Council and the Expediency Council, the federal government lastly accepted the provisions of this plan by sending a letter to the Guardian Council. settle for the monetary burden of this modification.
The continuation of the federal government’s follow-up on this subject in addition to the cooperation with the inventory alternate group went to the purpose that with this modification within the price range regulation, many of the tax incentives included within the everlasting legal guidelines affecting the businesses within the capital market remained.
Rate of interest discount within the banking community
Up to now few months, along with the impression of the market on “Clause S Observe 6 of the Finances Regulation 1403”, the difficulty of the sharp improve in rates of interest was one of many different issues that triggered the market to stray from its authentic path and accelerated the autumn of the inventory market index.
Primarily based on this, following the sharp improve in rates of interest after the central financial institution issued particular certificates of deposit with a price of 30% in February of final 12 months, the speed of Islamic treasury bonds reached over 38% and consequently the financing price additionally elevated to greater than reached 40%, and on this regard, the alarming prospect of the rate of interest motion led the inventory alternate group, along with the federal government and the central financial institution, to make use of all their efforts to forestall the false progress of the rate of interest.
The priority of the shareholders about this incident and the continuation of the falling development of the inventory market index made the choice about this difficulty to be positioned on the agenda of the financial headquarters of the federal government, and in parallel, critical negotiations between the inventory alternate group and the central financial institution had been carried out. Following the repeated follow-up of the inventory alternate group and the efforts of the federal government, the governor of the central financial institution despatched a letter to the banks to forestall the growing progress of the rate of interest within the financial system, and step by step, with the cooperation of all related establishments, the speed of treasury payments reached lower than 30%.
Additionally, contemplating the inverse financial relationship between the rate of interest and the worth of shares, in addition to the supervision of the central financial institution and authorities officers, it’s anticipated that the continuation of the downward development of the rate of interest will result in the injection of vigor and vitality into the inventory market.
Modification of the brand new tips for the value of feed and refined merchandise
The directive on the value of feed and refined merchandise, which was introduced on the twenty third of January 1402 and its implementation retroactively, was one of many different instances that utterly modified the market development, and regardless of the efforts of the inventory alternate group to cut back the feelings prevailing out there, it witnessed a large exit. We had been one of many liquidity within the capital market.
From the start, this directive confronted the robust opposition of the Minister of Financial Affairs and Finance as a result of annual impression of greater than 50 hemmati on the profitability of the nation’s strategic refining trade and the pressing want of this trade for brand spanking new investments, which in an effort to stop the intensification of the prevailing fluctuations within the inventory market. The federal government ought to cooperate with the inventory alternate group to find out the task as quickly as doable.
The priority of the Inventory Alternate Group and the Ministry of Financial system in supporting the rights of the shareholders of this trade, together with the shareholders of justice, resulted within the strict order of the Appearing President to the Minister of Oil and the Head of the Program and Finances Group to assessment the directions once more.
Within the continuation of the federal government’s frequent follow-up and assist to amend this directive, lastly, the modification proposal of the Ministry of Oil, together with not retroactively implementing the date of implementation, the fee of the losses incurred by the refineries as a result of introduced plans of the Nationwide Petroleum Refining and Distribution Firm, and the settlement of the calls for of the refineries, was accepted by the federal government. And it was introduced on August 2, 1403.
Figuring out the task of overseas forex claims of banks from the central financial institution
Regardless of the passage of a very long time because the approval and promulgation of the Regulation on Eradicating Obstacles to Aggressive Manufacturing and Bettering the Nation’s Monetary System in 2014, the overseas alternate claims of banks from the Central Financial institution (concerning greater than 12 years in the past) beneath Article (46) of the aforementioned regulation, that are based mostly on estimates It’s over 5 billion {dollars}, the task was not decided. Just lately, with the follow-up and proper resolution of the Central Financial institution, greater than 2.8 billion {dollars} of the overseas forex claims of the banks had been settled by the Central Financial institution, which had a vital impression on the monetary scenario of listed banks.
Extending the deadline for giant vehicle firms to withdraw from Article 141
In accordance with the provisions of Article 14 of the regulation on the utmost use of manufacturing and repair capability of the nation and safety of Iranian items, it’s doable to extend the capital of firms from the excess of belongings revaluation as soon as each 5 years.
Up to now years, the car trade was affected by a number of elements, together with mandated pricing and administration inefficiencies, on the trail of accelerating amassed losses, and Iran Khodro and Saipa firms, after presenting the monetary statements of 1401, had been topic to the article in 4 alternate years out of the final 5 years. 141 amended the commerce regulation.
If the legal guidelines are amended or the request of Iran Khodro and Saipa firms to hold out this capital improve in intervals of lower than 5 years is accepted within the Supreme Council of Financial Coordination and likewise if the request is submitted in accordance with the rules of the Securities and Alternate Group, it is going to be doable to assessment the request of those firms. And the group has no restrictions on this subject.
On this context, following the follow-ups, lastly, with the proposal of the Tehran Inventory Alternate and the approval of the Securities and Alternate Group, Iran Khodro and Saipa firms got time till July 1404 to withdraw from the inclusion of Article 141 and thus not be topic to not be canceled; Additionally, these two automakers introduced their plans to extend capital from the revaluation surplus by the top of this 12 months.
The important thing function of the federal government’s assist in reforming the earlier process in the direction of the capital market
In latest months, as a result of pressures of public spending, the federal government critically tried to switch the present procedures and former directions to enhance the enterprise scenario and particularly the capital market, and used all its energy to reply appropriately to the follow-ups of the inventory alternate group in an effort to change the prevailing scenario. within the capital market, a few of that are talked about on this report.
The important thing function of presidency assist in reforming capital market procedures
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