The Union Cabinet on Wednesday approved a memorandum of understanding (MoU) between the Securities and Exchange Board of India (SEBI) and Iran's Securities and Exchange Organisation (SEO) on mutual cooperation on matters pertaining to securities markets.
The MoU is likely to promote further development of economic links and cooperation between the two regulators, a Ministry of Finance statement later said.
The understanding aims at creating conditions for an effective development of securities markets in both countries.
"It would also contribute towards strengthening the information sharing framework between the two countries. It is expected to add value to overseas mutual cooperation and regulation activities of SEBI and SEO, Iran," the statement added.
--IANS
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