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 ...

US Sanctions on Iran Affect Trade With UAE
The latest US sanctions against Iran are forcing many Iranian...
New Government Policies Reduce Forex Demand
The implementation of new foreign exchange policies by the...
Failure to Safeguard Iran Deal Will Show EU Still a Paper Tiger
Just a few weeks ago, it seemed that the Iran nuclear deal...
Iraq to Respect Dollar Ban But Not All US Sanctions on Iran
Iraqi Prime Minister Haider al-Abadi stepped back from his...
Gold Coin Gains
The benchmark Bahar Azadi gold coin gained on Tuesday, as both...
Indian Tea Exporters Seeking Special Exchange Rate From Iran
The Indian tea industry has sought a special exchange rate...
Nvidia Rolls Out New Chip Technology for Filmmakers
Nvidia Corp on Monday released a new generation of chips aimed...
Google Tracks Your Movements, Like It or Not
Google wants to know where you go so badly that it records...