TEHRAN – Head of Iran’s Securities and Alternate Group (website positioning) Shapour Mohammadi says the capital market is ready to meet greater than 50 p.c of the oil business’s funding necessities, IRNA reported.
“The capital market has issued over 1.Three quadrillion rials (about $3.9 billion) value of bonds this yr and contemplating this determine it’s clear that this market is ready to finance over 50 p.c of the oil business’s tasks,” Mohammadi stated in a seminar on improvement of the oil business’s financial system.
The official additional put the overall worth of the offers made in Iran Power Alternate (IRENEX) at 450 trillion rials (over $10.7 billion) within the current Iranian calendar yr (began on March 21, 2019), whereas the overall worth of the inventory alternate transactions stands at 8.Three quadrillion rials (about $197.6 billion) because the starting of the yr.
Elsewhere in his remarks, Mohammadi famous that the federal government and the website positioning ought to create incentives for folks to encourage them for funding within the capital market, saying that “there must be a motive for folks to decide on funding moderately than depositing.”
“Funding dangers must be offset by elevated rates of interest and returns,” he added.
Iranian Oil Minister Bijan Namdar Zanganeh had stated in the identical seminar that the oil business wants greater than $25 billion of funding yearly, and if this doesn’t occur different areas of the financial system would additionally endure the results.
Zanganeh had additionally emphasised that greater than $30 billion is required for finishing unfinished petrochemical tasks throughout the nation.