The head of the Monetary and Banking Research Institute of the Central Bank, stating that there is a direct relationship between the company's shares and assets in economics and financial markets, said: "Shareholders jointly and through intermediaries, also own the company's assets."
According to the public relations of the Monetary and Banking Research Institute, Shapoor Mohammadi in the panel "The nature of stocks and their rights and interests" of the sixth conference of the Islamic Financial Association with the presence of Hojjatoleslam Gholamreza Mesbahi Moghaddam (Member of the Expediency Discernment Council) and Ali Salehabadi (Managing Director of Export Development Bank), which held online, he defined the shareholder, owner, ownership, and company from a legal and financial point of view and said: According to one definition, a shareholder is the owner of shares and jointly owns the company. However, the company, as a legal entity, is different from its assets.
He emphasized: the shareholder does not have the individual right to change the company's assets, but he can manage the assets through intermediaries and the board of directors.
Mohammadi, stating that the shareholder's issue in economic and financial theories is genuine and operating, said: the shareholder is the genuine and owner and the board of directors are the operating bodies; In this view, the issue of manipulation is raised. Of course, shareholders can also decide on assets at the company meeting. The company's main owner is a direct shareholder and has the usufruct right of the company's assets.
The head of the Monetary and Banking Research Institute considered the board of directors of the companies as the agents of the shareholders and specified: the encroachment on the property and assets can be done through intermediaries, and the ownership can be shared; Non-exclusive ownership does not necessarily mean that the individuals are not the owner.
Mohammadi, referring to Article 745 of the Code of Civil Procedure, which states that seizure, whether directly or under the supervision of an intermediary, such as the custodian of a guardian, lawyer or supervisor, said: The directors of the company representing the shareholders can encroach and seize the company's assets. The shareholders own the remaining interests of the company. For example, a real individual who is a client gives power of attorney to another person who is a lawyer. Both are real persons, but the owner is the first person and allows his lawyer to encroach on his property. According to Article 30 of the Civil Code, every owner has the right to all kinds of possession and use of his property, except in cases where the law has made an exception. He added: If the emphasis on legal personality is placed between the property possession of natural persons and the property possession of a legal person, this issue can be discussed.
The head of the Monetary and Banking Research Institute emphasized: The value of any financial asset depends on the present value of its financial income, and can it be claimed that these are unrelated.
Mohammadi asked if the benefits of assets do not constitute the company's profits, continued: It seems that in economics and the financial markets, there is a direct relationship between the company's shares and assets, and shareholders jointly and through intermediaries also own the company's assets.
The sixth conference of the Islamic Financial Association was held in three panels: "Good governance and its impact on financial markets," "The nature of stocks and their rights and interests," and "Specialized meeting to present selected articles of the conference" in the form of webinars.