Iran’s capital market fund to be set up

Business Materials 4 December 2012 17:10 (UTC +04:00)

Azerbaijan, Baku, Dec.4/ Trend G.Mehdi/

Iran will set up a special fund with the initial capital of 300 billion rials (about $25 million) with the goal of developing investments in the capital market, ISNA quoted Ayyoub Baqertabar, an official with the securities and exchange organization as saying.

The fund's asset is projected to be increased to 20 trillion rials in the future, he said.

Iran's capital market value hit 1370 trillion rials (around $112 billion) in the seventh calendar month of Mehr (ended on Sept. 22), IRIB quoted Finance and Economic Affairs minister Shamseddin Hosseini as saying.

The capital market value has grown by more than four fold since the Iranian year 1384 (March 2005-March 2006), reaching to $112 billion from $27 billion, he noted.

The number of shareholders has also increased to around 6.2 million from 3 around million during the same period, he added.