دوشنبه, 23 فروردين 1395 ساعت 10:38

MIDEAST MONEY-Iran looks to shift funding needs to capital markets مطلب ویژه

نوشته شده توسط 
این مورد را ارزیابی کنید
(0 رای‌ها)

April 13 (Reuters) - Iran's government plans to shift part of its borrowing from local corporate investors to the capital markets, a move that could stimulate trading in debt securities and help the economy recover from years of economic sanctions.

The sanctions, imposed over Iran's disputed nuclear programme, hurt the government's finances and prompted it to borrow heavily from local firms and debt-laden banks, many of which are linked to the state through shareholdings and managerial influence.

In the wake of the lifting of sanctions in January, the government is laying plans to offer a range of debt instruments in the markets, where they could be bought by institutional and individual investors, rather than placing debt directly with banks and corporations.

At present, Iran's banking sector provides around 95 percent of all financing, with only a tiny portion sourced from the debt capital markets, said Navid Kalhor, equity research analyst at Agah Group, a Tehran-based investment firm.

"The banking sector is out of money and out of capital, so the government is looking to reduce its reliance on the sector. It now needs to seek the capital markets."

Several efforts are under way: the Securities and Exchange Organisation (SEO) has approved the use by the government of lease-based Islamic bonds, known as ijara sukuk, which can be underpinned by creditor assets to help settle state debts owed to local firms.

"This is aimed at diversification of available instruments for the government and introduction of new tools for investors," said Majid Pireh, senior expert in Islamic finance at the SEO's research department.

A draft budget being discussed by parliament calls for issuance of 150 trillion rials ($4.4 billion at the free market exchange rate) of ijara sukuk, part of a proposed 275 trillion rials of debt issuance for the financial year which started in March.

The draft budget also includes issuance of 75 trillion rials of Islamic treasury bills and 50 trillion rials of musharaka sukuk, a form of investment partnership which until now has been the main sukuk structure used in Iran.

The treasury bills and ijara sukuk could spur activity in Iran's dormant debt markets because they will be tradeable in the country's over-the-counter securities market, known as Fara Bourse.

"You will be hearing a lot more of these issuances, especially the ijara sukuk type," said Payam Afzali, vice-president at Kardan Investment Bank, which is advising several local companies on their sukuk issuance plans.

"The mechanism is that the papers are issued and the ownership is transferred to the creditors - the secondary market is simultaneously created."

بازدید 683638 بار
محتوای بیشتر در این بخش: Iran, Germany sign agreement on developing oil fields »

505058 نظرها

  • پیوند نظر http://groundworkproject.org/cheap-homeowners-insurance-companies.html سه شنبه, 04 آبان 1395 ساعت 17:11 ارسال شده توسط http://groundworkproject.org/cheap-homeowners-insurance-companies.html

    I was really confused, and this answered all my questions.

  • پیوند نظر insurance on the iphone with verizon سه شنبه, 04 آبان 1395 ساعت 17:10 ارسال شده توسط insurance on the iphone with verizon

    Outstandingly useful thank you, I believe your trusty followers could quite possibly want a great deal more well written articles along these lines continue the great hard work.

  • پیوند نظر insurance quotes auto سه شنبه, 04 آبان 1395 ساعت 17:06 ارسال شده توسط insurance quotes auto

    AKAIK you've got the answer in one!

  • پیوند نظر http://ryancoleplunkett.com/zeller-insurance-lynn-ma.html سه شنبه, 04 آبان 1395 ساعت 17:04 ارسال شده توسط http://ryancoleplunkett.com/zeller-insurance-lynn-ma.html

    Linda Curlee - What great pictures! Meli, you have grown into the most beautiful woman! (your guy is pretty darn cute, too!)September 22, 2010  6:36 am

  • پیوند نظر http://rosylia.net/can-you-count-car-insurance-on-taxes.html سه شنبه, 04 آبان 1395 ساعت 16:59 ارسال شده توسط http://rosylia.net/can-you-count-car-insurance-on-taxes.html

    Hallo Valeska,ja, Sie Rechnung für das Öl kann eingesehen werden. Der Mieter hat ein Recht zur . Die genannten Kosten halte ich für umlegbar. Wie genau abgerechnet wurde, kann man ohne die Nebenkostenabrechnung zu sehen nicht sagen.Viele GrüßeDennis Hundt

  • پیوند نظر lookup car owner by license plate سه شنبه, 04 آبان 1395 ساعت 16:56 ارسال شده توسط lookup car owner by license plate

    What liberating knowledge. Give me liberty or give me death.

  • پیوند نظر westfield companies سه شنبه, 04 آبان 1395 ساعت 16:31 ارسال شده توسط westfield companies

    Off course subscribing to the rss feed will get you some of my updates but it does not get you everything.I have other terrific blogs and a fantastic newsletter, PLUS I reserve a lot of things just for my subscribers.To make sure you don’t miss out you should subscribe to my FREE newsletter.There should be a sign up box in the sidebar ———->

  • پیوند نظر hla car insurance سه شنبه, 04 آبان 1395 ساعت 16:30 ارسال شده توسط hla car insurance

    1dcHa van egy konkrét novellám, és egy, általad írt novellához akarom kapcsolni, akkor mi a teendő? Hova küldjem?Mellesleg nagylelkű gesztus, amit felénk teszel, és nem csak a díjazás miatt mondom. Ha kérhetném, értékelést is küldenél majd az enyémhez? Nagyon hálás lennék!Kriszti

  • پیوند نظر cheap insurance سه شنبه, 04 آبان 1395 ساعت 16:25 ارسال شده توسط cheap insurance

    your current article. It obvious which you have a whole lot knowledge with this topic. Your points are very well produced and relatable. Thanks for composing interesting and fascinating materials.

  • پیوند نظر selective insurance company of new york سه شنبه, 04 آبان 1395 ساعت 16:16 ارسال شده توسط selective insurance company of new york

    Do you have more great articles like this one?

نظر دادن

از پر شدن تمامی موارد الزامی ستاره‌دار (*) اطمینان حاصل کنید. کد HTML مجاز نیست.