3622
SEO Urges Banks to Sell Non-Banking Assets
Economy, Business And Markets

SEO Urges Banks to Sell Non-Banking Assets

The equity market will not get hurt if commercial banks stop their firm-running activities and sell their equities there, said the head of Securities and Exchange Organization on Tuesday.
Iranian commercial banks are set to reduce involvement in non-banking businesses “gradually” in the course of three years as already specified by the Money and Credit Council, Ali Salehabadi noted, as reported by IRNA.
The Central Bank of Iran (CBI) earlier ordered all banks to start selling their non-banking assets in the equity market and concentrate on their original task.
“Equities of banks will be offered in block trade sale only,” asserted Salehabadi.
The central bank in the past year expressed determination to have commercial banks relinquish their firm-running activities.
However, the issue has raised concerns among experts who are worried that the CBI’s pressure might even worsen the economic situation.

Short URL : http://goo.gl/5uumgv

You can also read ...

Italy's Ansaldo Set to Produce Power From Iran's South Pars Gas Flares
Italy's Ansaldo Energia signed a memorandum of understanding...
Fate of Cryptocurrency in Iran Hangs in Balance
Virtual currencies are slowly but steadily gaining traction...
IRISL Returns to the Fold of Int’l Shipping Giants
The Islamic Republic of Iran Shipping Lines plans to replace...
Dairy Exports to Hit $1b
Iran is one of the top milk producers and has ambitious plans...
Money and Credit Council Approves Liquidity Risk Management Rules
Money and Credit Council, a top financial decision-making body...
Iran Insurance Growth at 20%
The collective figure of Iranian insurance companies’ premiums...
1st Currency ETF  in the Pipeline
The Iranian capital market’s first foreign currency exchange-...
Iranian Mission to Visit Austria
An Iranian delegation is scheduled to visit Austria from...

Trending

Googleplus