Ghana has signed an agreement with Iran with the objective of strengthening cooperation and promote mutual development between the two countries.
Capital market authorities from Ghana and Iran signed a memorandum of understanding for cooperation between the two two exchanges in Tehran on Tuesday.
The agreement supports Ghanaian companies seeking dual listings in Accra and Tehran.
The MoU, signed by Iran’s Securities and Exchange Organization and Ghana’s Securities and Exchange Commission, had sharing of experience and financial expertise as its main focus, Securities and Exchange News Agency reported.
The Securities and Exchange Commission (‘the Commission’) is established by the Securities Industry Act, 2016 (Act 929) (‘the Act’) with the object to regulate and promote the growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected.
The Ghanaians expressed interest in participating in SEO’s international courses and learn about sukuk (Islamic bonds), which are considered a relatively new instrument in Ghana.
The two sides also agreed to move toward setting up a shared exchange-traded fund.
The Ghanaian delegation is in Tehran for a two-day visit to meet with officials from Tehran Stock Exchange, Iran Fara Bourse, Iran Mercantile Exchange and Central Securities Depository of Iran.
Ghana has had a long-standing relations with Iran,dating back to the co–founding of the Non-Aligned Movement by the first President of Ghana, Dr. Kwame Nkrumah in 1961.
Since then, the two countries have maintained a very historic special relationship, concretised in the establishment of embassies in each other’s country.