High Council for Tehran Stock Exchange (TSE) in his recent meeting, issued the permit for the establishment of the third financing company (Investment Bank) titled: “Parsian Financing Company”

According to Mehr News Agency, the TSE spokesperson also added, “on the strength of Paragraph 5 of Article 4 of the Stock Exchange Market Act, legislated in December 2005, the TSE High Council issued the permit for establishment of the Parsian Financing Company.” 

“With these explanations”, Ali Salehabadi stated, after holding the Public Founders Assembly, the founders of the said company shall approve the draft of the Letter of Association of the Company, appoint its first managers and refer the related documents to the competent authorities of the Stock Exchange and Securities Organization for due legal formalities. 

He also mentioned that in its recent meeting, the TSE High Council expressed its fundamental consent for the branch establishment abroad by the brokers companies.

According to the report by the TSE Information Site, Mr. Salehabadi also added that, “To this end, broker companies desiring to operate abroad, may establish a broker branch abroad, following the obtaining of the required permission from the Stock Market.

The TSE Head stated that, “in its recent meeting, the Board of Directors of the Stock Exchange and Securities Organization issued the permit for the establishment and operation of the Association of Financial and Investment Institutions, hereby paving the path for the operations of the investment companies in the framework of the related Association. 

The TSE High Council had formerly issued the permit for the establishment of Novin and Amin Financing Companies\