Value of Bank-Based ETF Doubles

Trade in exchange-traded fund that holds government shares in three banks and two insurance companies commenced on Saturday. 
The value of each ETF unit doubled in one month after its subscription closed in mid-May, said Abbas Memarnejad, the deputy economy minister for banking, insurance, and state-owned companies affairs.  
The units of the bank-based ETF, known as the ‘First Financial Intermediary’ will be traded like other ETFs, according to a notice published on the Tehran Stock Exchange website.