GOOD TO KNOW
Capital increase: Sahm Ashena will bring you all the information you need in other to take your capital increase shares.
Instruments: Shares, rights, futures (on shares and different commodities such as underlying assets), corporate certificates, different Islamic fixed income securities (Sukuk).
Investment Funds: Foreign investors may share their investments with Iranians, and managing investment will be observed by a well-qualified expert. Those experts are well informed of the Iranian capital market and have the ability and expertise in investing in this market. In a word, it is a less risky investment.
Market Time: Pre-opening at 8:30 – 9:00 am, Trading from 9:00 to 12:30 pm. (TSE&IFB). These hours are effective from Saturdays to Wednesdays, except public holidays.
Companies Reports: Note that annual, semi-annual and quarterly reports and any information that could affect stock prices have to be submitted to the SEO on a regular basis by every listed company. These reports and other financial statements are stored in the SEO database and are available to the public. Besides, SEO has implemented a network: CODAL (www.codal.ir), through which the information affecting the prices will be published directly. All the information is available on this website and free of charge.
Settlement: for trades executed on the TSE market takes place on the third business day after the transaction – often referred to as T+3. Central Securities Depository of Iran (CSDI) acts as the central counterparty to settlement, so that funds are transferred between brokers and CSDI, and securities are transferred between client accounts. Transactions are settled by book-entry transfer between accounts.
Securities Types: There are four types of securities traded on the TSE: common shares, rights, derivatives (single stock futures) and Islamic bonds.
Tax: capital gains and dividends are tax free for both Iranian and foreign investors.
Daily Price Fluctuation: The daily price fluctuation limit of shares in the TSE is set at +/- 5% of the closing price of the preceding business day. The aforementioned daily price fluctuation limit is set at +/-6% in IFB.
How can I get the verification of my letter of attorney for selling the stocks of my client who is a foreigner?
- The attorney needs to refer to CSDI having the following required documents:
- The original and a copy of the letter of attorney
- The original and a copy of the attorney’s birth certificate and national ID card
- A copy of client’s or clients’ identification documents
- A copy of client’s or clients’ birth certificate(s) and national ID card(s)
- The original and a copy of the last portfolio
- Written validity and continuity confirmation of the latest letter of attorney
If the attorney or the client is institutional the following documents are required as well:
- The official gazette which the signatories have been determined in
- A copy of birth certificates and national ID cards of the signatories
- The letter of introduction for the representative, signed and stamped by the signatories
If the client is an Iranian who lives abroad:
- The signature of the client pointed at in the letter of attorney needs to be verified by the embassy or consulate of the Islamic Republic of Iran in the origin country
- The aforementioned verification of signature carried out by the embassy or the consulate has to be confirmed by the Ministry of Foreign Affairs of the Islamic Republic of Iran
- If the letter of attorney is in a foreign language, its official translation into Persian needs to be verified by the technical office of The Judiciary of the Islamic Republic of Iran
If the client is a citizen of a foreign country:
- The signature pointed at in the letter of attorney needs to be verified by the official authority of drawing up the documents
- Either signature or stamp of the issuing authority or client’s signature certifier needs to be verified by the embassy or consulate of the Islamic Republic of Iran in the origin country
- The mentioned signature verification of embassy or consulate needs to be confirmed by the ministry of foreign affairs of the Islamic Republic of Iran
- The official translation of documents including the letter of attorney and the other certificates into Persian and signature and stamp features pointed at in the text and its back need to be verified by the technical office of The Judiciary of the Islamic Republic of Iran
After getting your Trading License you will get your unique trading ID that you need to have in order to be able to either own or trade shares/bonds in TSE and IFB. (You are not required to have this trading code to invest in the mutual funds)
Sahm Ashena can provide you over the internet (Online Trading Service). We will open an account for you in our platform (free of charge) and we will help you to open a bank account which is needed to transfer money from/to your account in Sahm Ashena.
- Note that orders that you place over our online platform will be routed to a TSE market directly.
- When you open an account in Iranian banking system you will get your bank account unique ID called SHEBA which is needed for you
- To open an account in Sahm Ashena we need your original passport or send us a photocopy of your passport certified by an Iranian Embassy located in your residing country
no initial deposits are required for opening an account in Sahm Ashena Brokerage. You can check your daily portfolio through either our platform (the shares or merchants that has been traded in our platform) or your CSDI account (called IPS) which is the sole organization and responsible for maintaining and transferring the securities. Sahm Ashena will get your IPS account. No need to refer to CSDI in person. (Free of charge)