TEHRAN, Iran, April 27
Trend:
Iran's stock market companies have grown in past Iranian year (started March 21, 2019) that indicate they have prevented cash flow to other markets, said Minister of Economic Affairs and Finance.
"The stock exchange has a special role in economy and one of the chains that can provide finances fast," said Farhad Dejpasand, Trend reports citing IRNA.
"Meanwhile, there is a concern whether people can bring their investment in the capital market, so we should create trust in active companies that offer variety of exchanges," Dejpasand said.
"The energy and commodity market are active and there should be others including housing that can be presented at the exchange," he added. "In this regard, some limitations should be lifted to create exchange infrastructures and launch smart exchange by the end of current Iranian year [began March 20, 2020]."
"This market has shown that it has high capacity so there should be plans and new instruments to bring liquidity," Dejpasand added.
"The share offering sessions in the capital market should be consistent, the first share of Exchange Traded Fund (ETF) will be offered soon including three banks and two insurance companies worth about $3.9 billion," he said.
"Two other ETF's will be offered afterwards; we plan to offer shares of public companies and other organizations, for example, 10 percent of the shares of the Social Security Organization," he added.