Tehran Stock Market Will Help Liquidate Surplus Assets of Banks

The government is piling pressure on banks to put an end to their non-bank businesses by getting rid of surplus assets. The push appears to gain momentum in recent weeks as the Ministry of Economy and Finance last weekend unveiled an online auction system for this purpose. 
Now the CEO of Securities and Exchange Organization says the stock market has created mechanisms that facilitate the divestiture process of banks’ unwanted assets.
“The common procedures in the stock market say products should be offered homogeneously, which could change hands in multiple deals. But the Iran Mercantile Exchange has made it possible for banks’ properties to be sold in a single deal,” IRNA quoted Shapour Mohammadi as saying.