Stock market provides $12b of funding for various sectors in 11 months
Iranian Finance and Economic Affairs Minister Ehsan Khandouzi said the country’s stock market has provided 6.0 quadrillion rials (about $12 billion) of funding for various economic sectors since the beginning of the current Iranian calendar year (March 21, 2023).
According to Khandouzi, considering the current trend the figure is expected to reach 7.5 quadrillion rials (about $15 billion) by the end of the year (late March 2024), IRNA reported.
Back in November 2023, Head of Iran’s Securities and Exchange Organization (SEO) Majid Eshghi said 30 percent of financing in the country’s economic sectors was done through the capital market in the previous Iranian calendar year (ended on March 20).
Speaking at an Exchange, Banking and Insurance Conference, Eshghi said: “We believe that the role of the capital market in the economy can be made much stronger than what currently is.”
“Today, the country's economy needs creativity and innovation and the economy cannot be managed with the policies of the past decade,” he noted.
According to the official, banks are less willing to finance small and medium-sized enterprises (SMEs), so the stock market can replace them in this regard.
“Today, we need to revive people's trust in the government, without this trust, we will not have a balanced development. People should know that the stock market is a safe and transparent platform for investment,” Eshghi stressed.
Source: Tehran Times
Related News
Nine last month
Top News
Australia’s CEFC invests $75m in homegrown critical minerals
Glencore in talks to sell Philippine copper smelting unit
BHP seeks Brazil growth to emerge from shadow of mining disaster
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Iron ore posts weekly gain as investors assess fresh Beijing stimulus
Norge Mining acquires Europe’s largest natural graphite producer
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Arcadium Lithium investors sue miner over Rio Tinto takeover
Skeena advances Eskay Creek permitting, unlocks Orion funding
