IME to Offer Zarshouran Gold Certificates
Economy, Business And Markets

IME to Offer Zarshouran Gold Certificates

Certificates of deposit for gold mined out of Zarshouran will soon be offered on the Iran Mercantile Exchange, according to its chief executive, Hamed Soltaninejad.
Zarshouran is Iran’s largest gold mine with 150 tons of proven gold reserves.
Commodity-linked CDs securitize a company’s product inventory and offer buyers easy ownership of goods without the usual hassles of storage and insurance. Commodities offered as CDs are stored in IME’s certified warehouses.
“The certificates could ramp up gold trading to a new record,” Soltaninejad claimed.
IME is expanding its markets fast. Other than gold futures and commodity trading, it will soon offer foreign exchange futures on the US dollar, with the planned addition of the euro.
Regulator Securities and Exchange Organization has already signed off on this, though the actual offering date, details of settlement dates and the size of the offered contracts remain to be hashed out.
Delays may come from the central bank of Iran, the final authority in regulating foreign exchange, which posits that the futures should be offered after the bank abandons its multiple exchange rate regime in favor of a crawling peg.

Short URL : https://goo.gl/O5GIII
  1. https://goo.gl/VOV2eO
  • https://goo.gl/adfVmF
  • https://goo.gl/ZVG3as
  • https://goo.gl/1rMNJh
  • https://goo.gl/JCrNfP

You can also read ...

Windfall Taxation on Gold Coin, Forex Trading
Government is to levy taxes on gold coin and foreign currency...
BMW, Mercedes Boxed in  by Tariff Battles
US President Donald Trump’s escalating trade spat threatens to...
Iran Could Join Russia’s Regional Payment Network
Russia is looking to establish a regional payment network in...
China Auto Firms to Set Up Ride-Sharing Platform
Chinese firms FAW Group, Dongfeng Automobile and Chongqing...
Challenges Ahead for Banking System
The chief executive of Bank Refah said limited overseas...
IMIDRO Concludes Largest Aerial Geophysical Survey
Iran’s largest mining holding has concluded the last stage of...
Exports From Fars Province Hit $1.3b
Exports from Iran’s southern Fars Province saw a 25% rise...
Non-Oil Exports From Shahid Rajaee Port Grow 3.8%
Non-oil exports from the southern Shahid Rajaee Port during...