Central Securities Depository Of IRAN

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CIGS ELECTRONIC IDENTIFICATION SYSTEM OFFICIALLY UNVEILED WITH VICE PRESIDENT FOR SCIENCE AND TECHNOLOGY IN ATTENDANCE

The electronic identification system of the Iranian capital market is unveiled in a ceremony with vice president for science and technology in attendance.

The electronic identification system of the Iranian capital market has been officially unveiled in a ceremony at CSDI headquarters in Tehran on 11 July, 2020 with vice president for science and technology of Islamic Republic of Iran in attendance.

In an address to the ceremony, vice president for science and technology, Sorena Sattari, enumerated the benefits of the country's economy moving towards a knowledge-based economy and innovation and hailed the big strides taken in the capital market and Central Securities Depository of Iran (CSDI) to that end.

He said the Comprehensive Information Gathering System (CIGS) for instance is among one of the country’s effective systems that in a short period of time has offered services to more than one million clients, a service which is worth praise.

He said the electronic identification system is a portal based on Artificial Intelligence, adding the domestically made innovation designed and launched by CSDI has turned into a huge and everlasting project for the country and the science-based economy as well. He said there are few countries in the world that enjoy the benefits of AI.

Sattari went on to say that intangible assets are symbols of authority and power in countries and we should overcome the challenges in the face of this issue, particularly the process of pricing should be resolved in this case.

The vice president added most companies see their future in the stock exchange and we should encourage this vision as well.

He meanwhile mentioned the presence of a number of science-based companies in the launch of the mega-project of Justice Share.

Earlier in the ceremony, the Chief Executive Officer of CSDI, Hossein Fahimi, briefed the audience on the biggest challenges the company faced including the mega-project of the Justice Share.

He said during the past years, only some 100 thousand trading accounts were issued on a yearly basis while today 100 thousand trading accounts are issued on a daily basis. 

Fahimi added some 50 million trading accounts were issued for holders of the Justice Share needless of the clients doing the process in person and their identities were verified electronically. 

Also present, Chief of the Securities and Exchange Organization, Hassan Qalibaf Asl, praised the concerted efforts of the CSDI employees for preparing the ground for the presence of people in the capital market. 

He said the development of the capital market is entangled with the development of electronic services such as the Comprehensive Information Gathering System (CIGS) designed and launched domestically by Central Securities Depository of Iran.  

He meanwhile called on the CSDI to keep the system up-to-dated so that the capital market can take full advantage of it.

In the closing of the ceremony, CIGS electronic identification system was unveiled by the vice president, the SEO chief and the CSDI CEO.  

It is worth mentioning that the ceremony was broadcast live online aligned with precautionary measurements regarding the outbreak of Covid-19.

Release Date: 2020-07-19