Tehran, Iran, December 18
By Mehdi Sepahvand – Trend:
Securities and Exchange Organization of Iran (SEO) has attracted over $560 million of foreign investment since the country concluded its nuclear deal with the world powers, the capital market authority said in a statement.
Addressing a press conference in Tehran on Monday, the CEO of the organization, Shapour Mohamamdi, said however banking restrictions still continue to discourage foreign investors from entering the Iranian market.
The JCPOA, short name for Iran nuclear deal, came into force in January 2016 with the hope to remove sanctions on Iran. Despite the removal of nuclear related sanctions, the US pressure which restricts the use of the US dollar in transactions with Iran, has kept investors at bay.
Meanwhile, the Tehran Stock Exchange (TSE), the largest equity market of Iran, has been passing the last few weeks with flying colors. Experts relate this recent surge to the rise of commodity prices in international markets, the rise of the USD against the Iranian rial, as well as lowering banking interest rates in the country.
Besides being a huge oil exporter, Iran enjoys a good mining sector, backing the TSE.
On Sunday, Mehdi Karbasian, the head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), expressed hope that over the coming two decades the global prices of minerals will be on the rise.