By Behnaz Ranjbar from Yekpay.
Unveiling a new international e-wallet and Foreign Investment capability in the Iranian Stock Exchange in Kish INVEX 2017
After years of being cut off from global trade, the Iranian companies and businesses, which are steadily getting used to being reintegrated into the world’s economy, are now gradually enjoying the prospects of international cooperation and trying their first steps into cooperating with the companies all over the world.
It is an enormous opportunity for senior executives, since Iran remains an important opportunity for multinationals in emerging markets. Leaders of Iran have reciprocated the interest in conducting business with other countries, in many areas including financial advisory services, transportation and logistics, tourism and hospitality, etc.
Conferences and exhibitions play a pivotal role in presenting establishing new business between international companies with Iran as well as investment opportunities. Kish INVEX, powered by Baharan Tadbir Kish and supported by Iranian governmental institutions is one of the most important examples. The 2017 version of this annual investment event was take place from 30October-2November 2017 in Kish Island, Iran.
Yekpay, as a brand of Ribo Royal group, attended Kish INVEX 2017 by unveiling its two recent features: multi-currency e-wallet and stock exchange.
Considering the increasing intensity in the process whereby different Iranian markets get connected to global markets, the Iranian Securities and Exchange Organization and its subsidiaries, as an influential financial institution, have failed to provide the necessary facilities and spaces needed to facilitate the participation of interested foreign institutions and individuals.
Therefore, non-Iranians and Iranian expatriates have always faced challenges with entering the Iranian stock market and trading the stocks of Iranian companies. One of the main factors contributing to this issue is the matter of paying and receiving funds.
E-wallet platform provides payment services and allows connection to Iranian brokerage firms. It is here to resolve this problem and facilitate financial transactions for stock traders. After acquiring a trading code, foreign traders can create an account on the Yekpay platform, choose one or more brokerage firms connected to this platform, and then charge their e-wallets using different currencies.
Then, after converting that currency to IRR, entering the trading code, and selecting the name of their broker within this platform, they will be able to buy and sell stocks.
Features of this e-Wallet are as follows: ability to access to Debit Cards and the Shetab Banking system, online Purchase from Non-Iranian Websites, direct purchase through Networks, possibility to store information of loyalty clubs, keep and convert different currencies in several wallets and fast conversion of foreign currencies to IRR to be transferred to any bank and account.
By choosing this platform , the people in everywhere in the world can easily buy or sell the stocks of companies listed in the stock exchange and in OTC markets, corporate bonds, partnership bonds, etc., without any restrictions or limitations, like other Iranian users.
The advantages of using this feature in stock exchange are: access to the Iranian stock and securities market, online trade of stocks and securities, unrestricted sales and purchases of stocks, opportunity to invest in one of the most profitable regional markets, deposit and collection of funds in different currencies, no need for physical presence, 100% tax free activity and fast, easy, secure sign-up.