performance in a short span
As one of the most essential components of a cohesive
and thriving capital market, the "Stock Exchange"
plays a decisive role in attracting the deposits
and leading the scattered and floating capital
(s) to the proper economic directions. Along with
the world-wide development of the share and stock
market the "Stock Exchange" also has
gained more significance in the Islamic Republic
of Iran, during the recent years.
Due to implementation of the
First-Five Year Economic Development Programme,
ratification of the specific laws allowing the
cession of the shares of the state companies to
the private sector, and active engagement of the
said sector in the country's economic infrastructure
"Tehran Stock Exchange" indicated a
rapid growth and by the end of 1373 (Solar Calendar)
1994-1995 fiscal year, only six years after its
inception, its volume of transaction remarkably
increased to Rls.188.5 bn. Demonstrating a 123%
increase in the coefficient of the shares' total
price in 1995, as compared with that of the 1993
fiscal year, "Tehran Stock Exchange"
stood in the first position well ahead of the
North African and the Middle East countries.
necessary measures taken in 1995
n Stock Exchange's share, in support of financial
resource- orientated new investments, increased
to 3% from that of only 1%. Therefore constituting
a unique growth among all Middle Eastern countries.
n The number of transacted shares exceeded 430
million in 1995, showing a 200% increase vis-a-vis
that of the previous year.
n The number of active membership in Tehran Stock
Exchange, after acceptance of 40 new members,
reached a total of 195 companies.
n Currently the list of conditionally accepted
members contains 28 companies out of which 18
are already omitted, not meeting the necessary
n The list also included 30 suspended companies.
n The number of applicants willing to join the
stock market currently stands at 48.
n The pattern of support for financial resources
of the companies, via the increase of their available
capitals, has continuously been enhanced due to
implementation of the relevant incentive policies
by numerous banks. Thus, showing a 1900 billion
Rial figure by the end of 1995 fiscal year as
compared to that of only Rls. 17.2 bn. in 1980.
A few significant
features of the 1996 programme
n In compliance with the Second Five-Year Programme
and for further expansion of the activities of
the stock exchange, in addition to five existing
satellite stations in cities of Mashhad, Tabriz,
Kerman, Isfahan and Ahwaz, new satellite stations
would soon be installed in other cities such as
Yazd, Sari, Rasht, Zahedan and Oroumieh in 1995.
n Specific efforts were also made in 1995 for
stabilising the rate of "share gains tax"
and reducing service charges or the commission
on all transacted shares, to only 2%.
n The inception of "Share Distribution Fund
"has already provided all the necessary means
for the rapid transfer of the relevant shares,
particularly due to direct introduction of such
shares into stock exchange organisation and the
issuance of their respective transfer licenses