On 20th August 2008, Tehran Stock Exchange held a one-day seminar in Tehran on “Corporate Governance: Necessities and Requirements” with the cooperation of some professional financial institutes. The seminar consisted of three panels organized thematically: understanding the corporate governance and its functions, corporate governance structures, and institutionalizing corporate governance in Iranian organizations. The panelists emphasized the importance of corporate governance for Iranian social and economic development. Moreover, before the panels, two articles with the titles of “corporate governance fundamentals and requirements” and “management and economic aspects of corporate governance” were presented by two experts. This seminar was a groundbreaker; it was the first time that Iranian financial institutes, leading experts, business leaders and scholars came together to discuss corporate governance and its effects on the actions of corporate boards.