Iranian Capital Market Priorities: Not Governmental Bonds
The Securities and Exchange Organization (SEO) will not publish the Governments new treasury bonds. Dr. Shahpour Mohammadi the CEO of SEO referred to the comments by the head of the Planning and Budget Organization regarding the publishing of treasury bonds valued at 85000 billion IRR and said: “These bonds will not be admitted in the capital market. These bonds will be published outside of the bourse; in order to settle debts with contractors. Our priority is the capital market and the private sector. We cannot overlook corporations and the stock market and the debt market must be controlled.”
The CEO of SEO believes that for investors, the profitability of corporations in the long term is quite attractive in the stock market and the bond market must complement the investment market.
Read More about Governmental Bonds in Iran (Handelsblatt Article)
Iran ready to become a shareholder of South African refineries
Iran’s return to the oil market after the removal of sanctions was quick. The country now produces nearly 4 million barrels of crude oil per day. But production requires costumers. Iran applies long-term strategies. The newest one is her readiness to buy shares at South African refineries, announces Mr Zanganeh, Oil Minister in a meeting with Energy Minister of South Africa in Tehran.
Read More about Iran’s strategies in South African Oil Industry
More Iranian projects, more French contribution
Iran eagerly seeks partners among the European countries. France seems to be the best responder. Delivery of new ATR aircrafts was confirmed in a meeting between France’s Minister of Economy, Michel Sapin, and Abbas Akhundi, Iran’s Minister of Roads and Urban Developments, in Tehran. Additionally, Mr Sapin expresses his country’s interest in contributing in Iranian railway and infrastructural projects.
Read more about French Minister visit to Tehran
IFRS reaches insurance companies in Iran
International standards have reached the insurance industry. The Head of Central Insurance, Nasser Hemmati, announced that insurance companies must release financial statements based on the “IFRS” international standard and all reports must be formatted on this basis. Last year, the Central Bank created sample financial statements based on this standard for the banking system and banks were forced to apply this standard as the basis of their financial statements. The inability and delay of some banks in compiling their financial statements based on this new standard led to the closing of some banking symbols in the capital market and some banks announced a loss instead of dividing profits.
Read about IFRS requirements in Iranian Banks
