Economy, Business And Markets

Tose’e Ta’avon Gets $175m Capital

Tose’e Ta’avon Gets $175m CapitalTose’e Ta’avon Gets $175m Capital

The parliament agreed to raise the capital of Tose’e Ta’avon Bank, by 4.8 trillion rials ($175 million at official exchange rate). The Management and Planning Organization of Iran will execute the decision soon, said Hamid Kalantari, deputy minister of cooperatives, labor and social welfare, ISNA reported. The process for the capital increase may take two years.