Baku, Azerbaijan, Feb. 6
By Khalid Kazimov – Trend:
Iran Insurance Company, a state-owned insurance firm, eyes purchasing a part of the stocks of a bank, the company official said.
Mohsen Pourkiani, the head of Iran Insurance Company, has said that the company plans to purchase shares of a bank as the existing regulations do not allow the insurance company to independently establish a bank, Ibena (Iranian banks and economy news agency) reported.
He further added that the company has earlier made efforts to establish a bank but failed due to the country’s regulations.
The official, however, did not provide the name of bank which his company plans to purchase shares from.
Pourkiani added that Iran Insurance Company in the meantime intends to increase its capital from the current $1billion (34 trillion rials) to $3.1 billion (100 trillion rials).
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