To our dear visitors,
The year 2020 has been eventful, to say the least. We could define it as the year of evolution towards a stronger corporate identity. The winds of change have spread through every aspect of the operations at Central Securities Depository of Iran (CSDI), from our activities to our people. Not even the management has been immune to it.
It is my pleasure to briefly walk you through the major milestones of the year and give you a taste of the achievements you will encounter throughout this year's annual report.
First of all, in these extremely challenging times of the global pandemic of the coronavirus, I would like to share our heartfelt support and solidarity with you and your families. At the CSDI, the health and safety of our colleagues, clients and the community in which we operate in is our number one priority. We have a 15-year legacy of responsible business and we are committed to doing all we can to keep everyone safe.
As the government is implementing measures to contain this public health crisis, we have been taking strict precautions to protect our colleagues, while securing our business and customer service.
We are following the advice of the government and public health authorities, and proactively implementing a range of precautionary measures, from stringent sanitation and cleaning protocols, to workplace distancing and temperature checks. To best protect those who must be at the CSDI to carry out their work, many of our colleagues are working from home and we are extremely proud of and grateful to our teams who come to the premises every day to ensure business continuity.
From the quality perspective, the CSDI services are available to people in the most remote geographical areas and villages nationwide so that all people can use it to operate in the capital market easily.
In fact, in recent days, weeks and months, we have experienced difficult conditions because we have been in one of the most unprecedented years in terms of variety of services, as a result of which an unprecedented increase in the presence of people in the capital market, trading volume, variety of financial tools, the securities traded on the country's stock exchanges, put a lot of pressure on Central Securities Depository of Iran that provides the infrastructure.
But a lot of valuable work has been done, and the only joy we have in this area is that by creating the infrastructure, we provided services to the people and helped finance the government and companies so that they can better fulfill their duties and responsibilities.
This year the latest technological achievements in the capital market were unveiled at CSDI headquarters with the Economy Minister in attendance during which the new digital technologies and infrastructural developments in Iran's capital market came on stream with the aim of cutting off physical communication and promoting electronic services to investors and other stakeholders of the equity and commodity exchanges.
Later in the year, two major projects of Central Securities Depository of Iran (CSDI), including the Electronic General Meeting and the Comprehensive Dividend Distribution Systems, were inaugurated and officially put into operation by the Iranian President Hassan Rouhani at the Information Technology Executive Council.
Committed to the fulfillment of the mission of providing infrastructure to hold the general meetings of companies listed on the stock exchange electronically, the CSDI decided to facilitate the presence of shareholders in the virtual general meetings with additional features such as e-voting and Q&A platforms for issuers, shareholders, and supervisors during the COVID-19 outbreak. This new achievement is to the benefit of both the CSDI itself and the whole capital market participants as well.
In 2020, we also witnessed the approval of the Supreme Leader to release the national Justice Shares and made important steps forward in our contribution to the development of the mega project. Dividend-paying Justice Shares in state entities and companies owned by 49 million Iranians are now eligible for trading on the exchanges. The move to enable the listing of the equity follows the emergence of a bull market on the Tehran Stock Exchange.
The point that millions of our people have become direct shareholders of listed companies at one time and in one day in a spectacular happening during the past 50 years poses as a great challenge for us and our capital market as well.
The pandemic crisis exposed the entire operating model for services and absolutely had an impact on changing services going forward. Call center work is a good example of this phenomenon. In order to respond to the beneficiaries of justice shares, the CSDI set up a call center for justice shareholders.
Last but not least, the CSDI has modified the organizational structure of a few departments to boost performance and productivity, improve the overall running of its affairs and meet the Depository's business and financial goals. Establishing the "Technology and Innovation" and promoting the department of "Legal Affairs and Inspection" to a new level are among the restructure plans of the Depository.
We understand and empathize with our clients in these unprecedented and challenging times. We also understand the importance of keeping businesses running therefore our approach to this evolving situation continues to be with urgency and care.
We have an important role to play in helping clients and customers with their business continuity plans. Rest assured, we are committed to ensuring uninterrupted success.
We will keep you informed as the situation evolves and thank you for your continued trust.
CEO & Board Member