Iran’s newly minted Capital Market Consultative and Advisory Taskforce, established by the Iranian Securities and Exchange Organization (SEO), will house a dedicated technology and information technology (IT) unit.
The Technology and IT Working Group is tasked with examining technology-related challenges facing the Islamic capital market as well as studying and reviewing new technological developments and enhancing the technical architecture of the Republic’s capital market.
The working group is one of five main sub-units under the new taskforce. The other working groups cover the development of financial institutions; market management and risk assessment; media, cyberspace and legal affairs; and debt market development and financing. Describing these working groups as think tanks, Ghalibaf Asl, the chairman of the SEO, said these groups, which will assume an advisory and decision-making role, will boost market efficiency and transparency. Comprising seven members each, the working groups serve as a conduit with industry participants.