TEHRAN, Iran, Jan. 31
Trend:
The National Development Fund of Iran (NDF) starts to pay monthly financial aid to Capital Market Stability Fund, said the head of the Capital Market Stability Fund Amir Mehdi Sahabi, Trend reports citing IRNA.
"The injection of new resources into the Capital Market Stability Fund will improve the stock market trading during the risky situations. The National Development Fund has paid the first installment of allocated resources to the Capital Market Stability Fund and is agreed to continue regular payment," he noted.
Iranian President Ebrahim Raisi has recently approved the decision to inject 120 trillion rials (about $510 million) as new resources from the NDF into the Capital Market Development and Stabilization Fund.
The Capital Market Development and Stabilization Fund’s mission is to support the Iranian stock market. The money loaned from the NDF should be repaid over a specified period. The Capital Market Stabilization Fund is responsible for paying the principal amount plus interest.