Final Payout for Justice Shares: A Milestone for Heirs This October
In a significant administrative move, the second phase of dividend payouts for the Justice Shares scheme for the fiscal year ending March 2024 has been initiated, bringing a long-awaited resolution for the heirs of deceased shareholders.
A Concluded Process for Heirs
The Central Securities Depository of Iran (CSDI) announced that the distribution process, which began on October 1, 2024, has seen rapid progress. Ten agent banks have already completed all their related transactions. This development is particularly crucial for the heirs of Justice Shares holders, marking the end of a multi-year wait to receive the dividends owed to their deceased family members.
Key Details of the 2024 Dividend Distribution
According to the official announcement, this phase will see dividends distributed to the heirs of over 1.05 million deceased shareholders, benefiting more than 4.29 million individuals. This action is recognized as a major step in facilitating access to these funds and fulfilling legal entitlements. A total of 19 agent banks are participating in this nationwide operation.
Eligibility and Payment Amounts
All beneficiaries who received dividends in the first phase of the 2024 payouts are also included in this second phase. Crucially, the heirs of deceased shareholders are now eligible to receive their share. The dividends, paid proportionally based on the initial share value, have seen a notable increase compared to previous years.
Official figures for the second phase are as follows:
- Initial share value of 452,000 Tomans: 747,000 Tomans
- Initial share value of 492,000 Tomans: 814,000 Tomans
- Initial share value of 532,000 Tomans: 881,000 Tomans
- Initial share value of 1 Million Tomans: 1.65 Million Tomans
Streamlined and Non-Cash Transfer Process
The payout mechanism has been designed for maximum convenience. Heirs will receive the funds directly into their bank accounts without the need for an in-person bank visit. Notifications are being sent via SMS and through domestic messaging platforms such as “Bale,” “Rubika,” “Soroush Plus,” and “iGap.”
Furthermore, the process for transferring the shares of the deceased to their heirs has been digitized, allowing for a fully non-contact procedure through electronic systems, which saves time and reduces administrative burdens.
Required Documentation for Heirs
To facilitate the smooth transfer of dividends, heirs must ensure their information is registered in the Justice Shares system with the required documents. These include:
- Certificate of Inheritance
- National ID and Birth Certificate of the heirs
- Valid IBAN (bank account number)
Heirs who have not yet completed their documentation can do so through the Electronic Judicial Services offices.
Distribution Among Heirs and Inquiries
The division of dividends among heirs is conducted strictly based on the Certificate of Inheritance and in accordance with legal inheritance shares. Beneficiaries can check the status of their payments through the comprehensive Justice Shares portal or via notifications from their respective agent banks.
This systematic and widespread distribution of Justice Shares dividends underscores the scheme’s role as a significant household asset and represents a continued effort to enhance economic inclusion and support for families.