Central Securities Depository Of IRAN

To gain insight into the current international initiatives at Central Securities Depository of Iran (CSDI), we interviewed Siavash Azimi, the Director of International Relations and Corporate Secretary.

Which programs saw significant implementation this summer?

This summer, several key initiatives were successfully executed. Notably, Mohammad Baghestani, CSDI's CEO, was elected as Vice President of the Asia-Pacific CSD Group (ACG) and subsequently joined the Board of the World Forum of CSDs (WFC). Additionally, we led a specialized working group for CSDs within FEAS, where CSDI was appointed as the leader of the “CSD, Pre- and Post-Trade Working Group.” Another significant milestone was the strengthening of CSDI's position within the BRICS+ Business Council representing Iran in the BRICS+ Financial Services Working Group Task Force on BRICS Payments & Fintech and most specifically BRICS Clear initiative.

How would you evaluate the electronic issuance service for financial ability certificates?

Our objective is to improve the electronic issuance and authentication service for financial ability certificates in English, ensuring it is competitive with offerings from banks, investment funds, and brokers. The entire process is conducted electronically, and we have integrated advanced technologies, including AI, to further streamline the service.

Can you elaborate on CSDI's relationship with international institutions and the potential for future development?

We have achieved significant milestones on the international stage. Noteworthy highlights include our election to the Executive Committee for a third consecutive term and our re-election as Vice-Chairman of the ACG, which allows us to represent the ACG on the board of the World Forum of CSDs (WFC).

Additionally, we are active members of the Federation of Euro-Asian Stock Exchanges (FEAS), where we serve on its audit committee and lead the CSD, Pre-Trade, and Post-Trade Working Group. Our experience also includes two terms on the Executive Committee.

We are a member of the Association of Eurasian Central Securities Depositories (AECSD) and the OIC Exchange Forum. CSDI represents Iran in the BRICS+ Financial Services Working Group Task Force, focusing on payments and fintech, particularly the BRICS Clear initiative. Our collaboration with international counterparts is further demonstrated by the signing of Memoranda of Understanding with 16 prominent global financial institutions.

Considering these accomplishments, I believe CSDI's international relations are unparalleled at the national level and meet satisfactory standards globally. However, there is still room for us to further enhance our capacities and capabilities. We aim to develop a more advanced macro goal-setting and planning system to leverage these relationships effectively. Among the most notable outcomes we seek are knowledge transfer in various technical, operational, legal, and business domains, the expansion of services (such as the LEI issuance project), and the definition and implementation of joint actions, such as the initiative to connect the capital markets of BRICS+ member countries.

Release Date: 10/16/2024

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