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Bourse Council Gives Ok to Tradable CDs   

The High Council of Securities and Exchange has given the go-ahead to banks to issue certificate of deposits that can be publically traded in the equities market
Bourse Council Gives Ok to Tradable CDs   
Bourse Council Gives Ok to Tradable CDs   

The High Council of Securities and Exchange has given the go-ahead to banks to issue certificate of deposits that can be publically traded in the equities market. 
The Governor of Central Bank of Iran Ali Salehabadi made the announcement at a meeting with bank CEOs on Tuesday.  
Certificate of deposit (CD) is offered by banks and credit institutions, providing a fixed interest rate in exchange for the customer agreeing to leave a lump sum untouched for a predetermined period. 
Addressing the managers, Salehabadi said the central bank will soon announce rules for initial public offering as well as secondary trade of CDs in the equities market. 

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