TEHRAN, Iran, July 5
Iran's over-the-counter market (OTC) also known as Fara Bourse has traded about $525 million worth of housing bonds that were issued by Maskan Bank since the start of the current Iranian year (started March 21, 2021).
More than 7.2 million housing bonds from Maskan Bank advances have been issued that 4.4 million bonds were used since the start of the current Iranian year (started March 21, 2021), Trend reports citing Fars News Agency.
Tehran Stock Exchange and Iran Fara Bourse's mission is to finance big public companies and organizations, one of their angles is financing households by providing housing bonds from Maskan Bank advances that are traded based on the daily rate at the market.
Families would usually purchase housing bonds as part of advances for housing without prior savings in the bank. About 27 million housing bonds valued at $2.9 billion have been traded in the last Iranian year (started March 20, 2020).
Three companies in the OTC market have evolved to primary and secondary markets in the last Iranian year. There are currently 323 active companies in Iran's Fara Bourse.