Chief Executive Officer of Central Securities Depository of Iran, Hossein Fahimi, has acknowledged that some 36 companies have paid out their dividends to their shareholders via CSDI’s domestically made #eKYC system, Comprehensive Information Gathering System (CIGS) as of March 21, 2020.
According to Fahimi the dividends amount to 15.8 billion Rials.
Since CIGS, is agile, user-owned, standard and supported by digital technologies, it is a fundamental ground for distributing the dividends to investors and a way forward toward electronic general meeting (e-GM) management systems.
CSDI has developed the CIGS that helps address a number of fundamental components in the country’s capital market.
The totally indigenous electronic system is a sophisticated infrastructure which provides a wealth of value-added services to shareholders and–on a broader perspective-to the whole capital market.
CIGS aims to contribute to the principle of transparency in the capital market, since all market players need to register and fill out the relative forms “once and for all”.
Each of the components the newly-launched KYC-based system offers has the potential to make a significant impact alone or as part of a broader plan.