29991
Capital Increase
Economy, Business And Markets

Capital Increase

State-owned banks have been allowed to seek a rise in their capital level to 100 trillion rials ($3.3 billion at the official exchange rate). The government passed the measure as part of Article 29 of the 2015-16 budget, making it possible to transfer the ownership of unfinished projects to state-owned banks as a means of raising new funds, the Central Bank of Iran website reported Tuesday.

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