Central Securities Depository Of IRAN

Introduction

Comprehensive Information Gathering System (CIGS) is CSDI’s e-KYC platform aiming at collecting the necessary information of CSDI’s clients to provide them with efficient and online services. 

CIGS is an infrastructural system, not a commercial one, since it serves as a parent system to feed other systems and platforms of CSDI and capital market as a whole. Therefore, it can also be considered a national system.

This system has been developed in full-compliance with Anti-Money Laundering & Combating the Financing of Terrorism Act and is mandatorily used for the registration of all Iranian individual and institutional investors of the capital market. (According to the law, receiving any basic services is possible, providing accomplishment of the KYC process)

Using this system, each (natural/legal) person will be able to use all the capital market services once they register their information in CIGS and have their identities verified and they will not need to redo KYC procedures over and over, required in different financial institutions, including brokerage firms, investment funds, etc.

In the past, one had to first head to a brokerage firm for registration and receiving a trading account in order to enter the capital market. However, today, people can easily register their information in the system, go through the authentication process, and finally get their unique trading account, all online.

Currently, only individual and institutional investors of Iranian nationality have the opportunity to register in CIGS.

 

Service Provider	CSDI
Beneficiaries	Beneficiaries are divided into three groups of Supervisors, service recipients and providers in the Iranian capital market: Recipients: Exchanges  Financial entities Shareholders  Service providers: Electronic Know Your Customer (e-KYC) Technical prerequisites for providing and receiving new electronic services in the capital market, such as the process of distributing income and dividends on securities
Participants	National Organization for Civil Registration (To inquire about the identity information of natural Iranian investors) Company Registration Office (To inquire about the identity information of Iranian legal clients) Banking infrastructure system (In order to inquire about bank account information and IBAN number) Post-trade system (To inquire about portfolio information) Brokerage firms (in-person and electronic authentication of clients) Government Service Offices (in-person  authentication of clients)
Objectives	Enforcement of Anti-Money Laundering (AML) Act (enacted in 2007) and  Combating the Financing of Terrorism (CFT) Act (enacted in 2015) Providing the expanding market of Iran with sophisticated, hi-tech, and efficient services Promoting transparency through the aggregation of information and trading records Facilitating online services  provision  Easy electronic registration and trading account issuance (for individuals and legal entities)
Unveiling Date	CIGS was officially launched by CSDI at “The 11th international exhibition of Exchange, Bank & Insurance” in 2018.

 

 

Specification

• Working under the supervision of the Anti-Money Laundering Committee of the Securities and Exchange Organization of Iran
• Designed and implemented by expert legal and technical teams 
• Three-tier architecture based on ITIL
• Encrypted database
• File-saving as a “file service”
• Parallel testing
• Reliable & orderly verification
• Electronic editing of information 
• Portfolio monitoring
• Serving other systems based on integration

 

Guideline on information registration and authentication in CIGS, for Iranian expatriates	Frequently Asked Questions

 

News

1. 7.2 million shareholders in 105 listed companies receive dividends via CSDI's online platform
2. Unveiling of CSDI's latest achievements, this time by the PRESIDENT!
3. 36 companies paid out dividends through CSDI's sophisticated system "CIGS"
4. CIGS electronic identification system officially unveiled with vice president for science and technology in attendance
5. Online identity verification with CSDI's e-KYC CIGS
6. CSDI encourages customers to use online services to contain spread of coronavirus
7. Keshaverzi bank; another entity in money market to use CSDI's e-KYC system to identify, authenticate clients
8. Sepah bank starts identifying customers via CSDI's e-KYC CIGS system 
9. Melal credit institution; another entity in money market to use CSDI's e-KYC system to identify, authenticate clients 
10. Ayandeh bank starts identifying customers via CSDI's e-KYC CIGS system 
11. Iran's Saderat bank becomes third entity in banking network  to use CSDI's e-KYC system to identify, authenticate clients
12. Shahr bank; second entity in banking network to use CSDI's e-KYC system to identify, authenticate clients 
13. Bank Parsian starts identifying customers via CSDI's e-KYC CIGS system 
14. CSDI e-KYC phenomenon, CIGS, noe available on "AP" payment services application
15. FINTECH & capital market; over 2.5 million shareholders registered in CSDI new system of KYC, CIGS 
16. CSDI to facilitate trading on stocks mark through indigenized e-services