Statement from the Tehran Electronic Commerce Association on the Prevention of Divar’s Entry into the Stock Market
Following the disqualification of the founder and chairman of Divar platform from entering the capital market, the Tehran Electronic Commerce Association has issued a statement condemning this action as a serious threat to private ownership, the independence of legal institutions, and investment security in the digital economy sector. The association warned about the consequences of this decision on public trust and the future of the country’s innovation ecosystem and called for transparency and accountability from the involved entities.
According to the association’s public relations office, the statement reads:
The Tehran Electronic Commerce Association, as the professional and civil representative of the country’s digital economy actors, expresses deep concern over the disqualification of Hesam Armandahi, founder and chairman of Divar platform, from entering the capital market. We believe this decision goes beyond the fate of a single company and signals a troubling precedent for the future of the knowledge-based economy while undermining the status of the country’s legal institutions. By questioning the entrepreneur’s right to manage a business they founded, this move targets a fundamental pillar of private ownership and seriously jeopardizes investment security.
The involvement of a security organization (the IRGC Intelligence Organization) in the expert review and qualification process of companies—lacking legal transparency and clear criteria—raises fundamental questions about the scope of authority and accountability of decision-making bodies. This intervention weakens the independence of the Securities and Exchange Organization as the legal regulator and custodian of the capital market and undermines the principle of economic predictability, which is essential for investment security.
At a time when the country has faced one of its most challenging periods in recent months—including the 12-day war—private sector actors have devoted their efforts to maintaining business stability, social hope, and public support. Actions like this not only run counter to national solidarity but also send a clear message of disregard for the necessity of strengthening the digital economy. The result will inevitably be the erosion of trust, investment, and harm to national economic growth.
We warn that this decision will have a destructive impact on the entire Iranian innovation ecosystem, extending far beyond a single individual or company. For years, businesses in this sector, despite blocked investment channels due to security-related pressures, have relied solely on personal capital and human knowledge to build a brighter future. In this difficult path, entering the capital market was not merely a choice but the “last hope” and the only remaining path toward transparent and lawful growth. Undermining this hope effectively means damaging the future of the digital economy, employment, and national aspirations.
Therefore, the Tehran Electronic Commerce Association firmly supports the legal rights of all its members and will vigorously pursue this matter until clear and responsible answers are obtained. We demand transparency in procedures, accountability in decisions, and guarantees of fundamental private sector rights.
In line with this, the association plans to hold a specialized session in the near future, inviting all relevant parties—including regulatory bodies, capital market officials, government representatives, and digital business leaders—to openly and thoroughly discuss this issue on a national platform.
We firmly believe that only through law, constructive dialogue, and cooperation can a sustainable and bright future be built for Iran’s digital economy.
