Title: Justice Shares: A New Chapter for Trade and Investment?
Tehran – The long-anticipated process of making Justice Shares tradable is advancing, with the High Council of the Stock Market now actively reviewing the mechanisms for resuming transactions, according to a senior official.
In a recent radio interview, Akbar Heidari, the spokesperson for the Justice Shares scheme, provided a comprehensive update on the program’s status, reaffirming the government’s commitment to the policy set forth by the Supreme Leader in 2020.
A Nationwide Shareholding Initiative
Heidari detailed the program’s broad reach, noting that approximately 19 million citizens opted for the direct method of ownership, making them shareholders in 36 publicly traded and 13 non-public companies. The affairs of the remaining 30 million participants are managed indirectly through provincial investment companies and the Justice Shares Headquarters.
Addressing claims that the “liberalization” of the shares has stalled, Heidari firmly stated, “It is not correct to claim, after five years, that the liberalization of Justice Shares has not been implemented. All pillars of the establishment have accepted this process and have acted upon it.”
Focus Shifts to Trading Mechanisms
The official clarified that the current debate is not about the principle of liberalization, which he asserts is settled, but rather centers on the operational details of making the shares tradable. He explained that while 2020 regulations intended to enable trading for both direct and indirect holders, the process encountered procedural obstacles.
“The issue of resuming Justice Shares transactions is now under review by the High Council of the Stock Market,” Heidari confirmed. He added, however, that formal proposals have not yet been presented to the legal representatives of the indirect shareholders.
Incentives and Administrative Overhaul
For the indirect method, Heidari highlighted that amended bylaws call for provincial investment companies to hold general assemblies. Incentives will be offered to shareholders who prefer to retain their shares within the framework of their provincial asset pool.
He also addressed the status of roughly five million shares linked to deceased individuals or those who have not registered bank accounts. The resources and dividends from these shares, currently centralized in Tehran, are slated to be transferred to the provinces. These funds will be managed by the provincial investment companies to bolster local investment and development.
This development signals a significant step in a major national economic program, with authorities working to finalize a structure that balances market dynamics with the scheme’s original social welfare objectives.