On March 6, the Investment Industry Development Association of Iran (IIDAI), hosted an inauguration ceremony for the first CIIA® Training Course in Tehran. The guests of honour included Dr. M Aahdi Karbasiyan, Deputy Minister of Finance and Economic Affairs of Iran and Dr.Hossein Abdoh Tabrizi, Secretary General of Tehran Stock Exchange (TSE).
The ACIIA® was represented by Mr.Jean-Francois Balmary, the Chairman of the ACIIA® Promotions and Marketing Commission and Secretary General of SFAF France, and Mr. Kazumichi Karita, Manager of the Asian Federation ASAF and senior Vice President of the SAAJ Japan. A number of prominent veterans of the investment industry of Iran, CIIA® candidates, university professors, members of the Committee of Financial Analysts of Iran (CFAI), investment and financial experts and the press were also in attendance.

Dr. Heybati, Secretary General and advisor to the board of the IIDAI, welcomed the participants and spoke on the importance of developing financial markets and the role of the IIDAI in formulating the draft bill for the establishment of new investment companies such as Mutual Funds and Closed-end Funds. He stated that CIIA® courses are not only a step towards training investment industry experts but also towards integrating Iran's investment industry into the international financial system.

Inauguration ceremony in Iran for the CIIA® course.

Dr. Karbasiyan, the Deputy Minister of Finance and Economic Affairs, spoke on the recent economic developments in Iran, with particular emphasis on the development policies and regulatory reforms that have resulted in the strengthening of capital and real estate markets.
In light of this, Iran will soon witness the emergence of a strong market for financial services, and the activitives of this market will largely depend on the availability of trained and competent experts. In this regard, he welcomed the IIDAI's move to hold the first CIIA® course in Iran.

Dr. Abdoh Tabrizi Secretary General of the Tehran Stock Exchange, also noted the important role that well-trained analysts play in the market, and promised that the process of providing participants of capital and investment markets with adequate and reliable information will be accelerated. However, he pointed out that the federations and organizations of investment analysts, all over the world, should strongly contribute to the availability of information to market players and the enhancement of professional ethics. He declared his full support for the CIIA® courses in Iran and announced that the CIIA® has been accredited by the Council of the TSE, thus CIIA® holders can conduct stock brokerage activities without passing the TSE examinations.

To conclude the presentations, Mr Balmary and Mr Karita spoke on the features of the CIIA® designation and the experience of their associations in establishing the CIIA® program in their respective regions, and wished all the Iranian candidates the best for a successful course and examinations on behalf of the ACIIA®. The inaugural two-year CIIA® training course in Tehran is scheduled to begin in mid-April with 30 candidates who successfully passed the entrance examinations and interviews. The ACIIA® look forward to welcoming this first cohort of Iranian candidates to the CIIA® final level examinations in September 2006.