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Leader Imam Khamenei’s directive on the vesting of Edalat Shares

The following is the full text of a directive issued on April 28, 2020, by Imam Khamenei, the Supreme Leader of the Islamic Revolution, on the vesting of Edalat (Justice) Shares. In this directive, His Eminence grants his approval to the administration’s plan to vest the Edalat shares and presents three binding stipulations which should be complied within the process of vesting these shares, the goal of which is to increase social justice and empower low-income families.

In the Name of Allah, the Beneficent, the Merciful

Following the decision to vest a percentage of the “Edalat Shares,” which are based on Article 44, with the purpose of increasing social justice and empowering low-income families, the officials in charge in different administrations were expected to prepare, as soon as possible, the ground for vesting the Edalat Shares and for entrusting the task of setting prices to the stock exchange by carefully implementing the eight articles of the directive issued on July 3, 2006, and to prepare and implement the necessary statutes. In any case, considering the current economic conditions, and bearing in mind the administration’s determination to carry out its duties, permission is given to vest the Edalat Shares while observing the following points:

1. The holders of Edalat Shares are permitted to choose the direct ownership of the shares in investable companies within a specific timetable and to proportionally play their managerial role.

2. The necessary regulations for transferring shares to the owners of Edalat Shares should be issued by the High Council of the Stock Exchange. These regulations should be carried out by all executive bodies.

3. As for the remaining shares in provincial investment companies, the High Council of the Stock Exchange should prepare the ground for the entrance of such companies into the stock exchange as soon as possible as well as encourage the current shareholders to keep their shares there.

Considering the delay that has occurred over this time in achieving the goal of vesting these shares and due to the necessity of helping the people to reap the benefits from their shares, it is imperative that the honorable administration adopt all the necessary measures in order to implement the above-mentioned points.

Sayyid Ali Khamenei

April 28, 2020

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