Economy, Business And Markets

Bank Melli Asset Speculation

Bank Melli Asset SpeculationBank Melli Asset Speculation

Bank Melli has announced it will sell 20 trillion rials worth of its assets and equities by the end of the year, said CEO Abdolnasser Hemmati on Wednesday. He said 10 trillion rials in the bank’s assets will be sold through auction and the rest through the stock exchange market, FNA reported. Bank Melli has submitted a list of assets and buildings it owns to the Central Bank of Iran, which had already ordered commercial banks to stop doing unrelated businesses and get back to their original mission, that is, providing customers with proper banking services. In recent years, commercial banks have significantly shifted focus on investment in the construction projects and equity market.