{"id":5047,"date":"2018-04-21T04:13:48","date_gmt":"2018-04-21T04:13:48","guid":{"rendered":"http:\/\/en.azpar.com\/?p=5047"},"modified":"2018-04-22T04:26:57","modified_gmt":"2018-04-22T04:26:57","slug":"iranian-banks-to-amend-structure","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=5047","title":{"rendered":"Iranian banks to amend structure!"},"content":{"rendered":"

Market News<\/strong><\/h2>\n

\u2013 The Majlis approved an amendment on the General Policies Pertaining to Principle 44 of the Constitution on Wednesday, based on which,\u00a0Iranian banks& credit institutes, including state and non-governmental banks, established both before and after this law, or state banks whose shares are divested, are only allowed to operate in the form of public joint companies and public joint corporations and up to 10% of their shares can be freely purchased by their owners without needing any permission. Furthermore, the acquisition of shares between 10-20% and 20-33% by the owner is only allowed by the CBI based on the instruction proposed by the CBI and approved by the Money and Credit Council. In addition, the acquisition of other credit institutes\u2019 shares by the owner, who is already in possession of more than 10% of one credit institute, is only possible after the CBI permission.<\/span><\/p>\n

\u2013 According to the\u00a0World Bank\u2019s\u00a0latest report on\u00a0Iran\u2019s economic outlook, Iran is expected to experience 4.2%\u00a0economic growth, mostly relying on non-oil sector, under pressures levied from higher unemployment and\u00a0inflation rates, which altogether seem to make the actual implementation of reforms more difficult and complicated.<\/p>\n

In the Market<\/strong><\/h2>\n

The first month of the new Persian calendar year ended with the TEDPIX losing 0.8% despite a bullish start. The USD\/IRR rate hike and lower sales pressure in early Farvardin (Apr\/May 208) dragged the index up, which changed direction after the government unified the USD\/IRR at IRR 42,000. The value and volume of trades were significantly low (30% less than the previous month) mostly due to concerns from the US pulling out from the JCPOA, its consequences as well as tensions in the region. At the end of today\u2019s session, the TEDPIX and IFX stood at 95,265 and 1067 points, respectively.<\/p>\n

Following the recent bullish trend, the\u00a0Sugar<\/strong>\u00a0industry went through positive trades, led by Qazvin Sugar. Shahroud Sugar and Marvdasht Sugar also hit their highs.<\/p>\n

Although in low volume, a positive sentiment was seen among tickers in the\u00a0Metals<\/strong>\u00a0and\u00a0Iron Ore<\/strong>\u00a0groups. While Tuka Foolad Investment, Zarin Ma\u2019dan Asia and Kimia-ye Zanjan Gostaran in the former finished with buy queues, Iran Manganese Mines was the only one in the former that managed to touch its ceiling.<\/p>\n

Just like the previous session, Iran Arqam listed on the\u00a0IT & Computer\u00a0<\/strong>group attracted investors\u2019 attention. Other names finished with slim gains.<\/p>\n

The majority of symbols in the\u00a0Automotive<\/strong>\u00a0space saw sales pressure early in the session; they, however, managed to turn the atmosphere to their own benefit; Iran Automobile Spare Parts and Nirou Mohareke closed with buy queues while most other names settled with small gains.<\/p>\n

Despite the hike in oil prices, the\u00a0Oil Products<\/strong>\u00a0industry settled with rather balanced trades, led by Esfahan Oil Refining, with gains in some tickers being neutralized by losses in others. Except from a few, the majority of names in the\u00a0Chemicals<\/strong>\u00a0space also finished in the red.<\/p>\n

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Source:<\/p>\n

2018, Iranian banks to amend structure!, Saturday, April 21, p.1,<https:\/\/agahgroup.com<\/a><\/em>><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Market News \u2013 The Majlis approved an amendment on the General Policies Pertaining to Principle 44 of the Constitution on Wednesday, based on which,\u00a0Iranian banks& credit institutes, including state and non-governmental banks, established both before and after this law, or state banks whose shares are divested, are only allowed to operate in the form of […]<\/p>\n","protected":false},"author":1,"featured_media":5051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,28,31,1],"tags":[],"class_list":["post-5047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-news","category-news-events","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5047"}],"version-history":[{"count":3,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5047\/revisions"}],"predecessor-version":[{"id":5052,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5047\/revisions\/5052"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/media\/5051"}],"wp:attachment":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}