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 659091 بار
محتوای بیشتر در این بخش: Iran, Germany sign agreement on developing oil fields »

503474 نظرها

  • پیوند نظر Ava جمعه, 17 دی 1400 ساعت 10:24 ارسال شده توسط Ava

    Very funny pictures https://augustamsourcing.com/mojo-risen-canada-od8k mojo risen canada
    "We are not trying to keep it secret," Jonathan Lynn told BBC News. "After the report is finished, we are going to publish all the comments and responses so that people can track the process.

  • پیوند نظر Crazyfrog جمعه, 17 دی 1400 ساعت 10:24 ارسال شده توسط Crazyfrog

    Do you know what extension he's on? http://www.originnaturals.com/generic-brand-for-actos-mrc6 actos skin shoes buy Strange as it may sound, I have come to believe that some lands are solid, others liquid. Turkey is one of the latter. It is a country where everything is flowing, shifting. We, Turks – particularly Istanbulites – are a bit like passengers on a boat. We live with a dizzying feeling that the ground beneath our feet is constantly changing. Now that the sharp smell of tear gas and pepper spray has been replaced by the smell of salt and seaweed, the entire society is debating, once again: Where do we go from here? At a time like this it is worth taking a closer look at what kind of books to read about Turkey in the hope of understanding this rich country.

  • پیوند نظر Marcelino جمعه, 17 دی 1400 ساعت 10:24 ارسال شده توسط Marcelino

    this is be cool 8) http://www.swaiauto.com/pharmacy/index.php/order-kamagra-online-australia-dfy4 kamagra australia shop Lackey (7-7) was charged with four runs on 10 hits in 6 1-3 innings, striking out seven. It snapped a stretch of six consecutive starts when he allowed two or fewer runs, and was just the third time in his 17 starts this season he's given up more than three.

  • پیوند نظر Normand جمعه, 17 دی 1400 ساعت 10:24 ارسال شده توسط Normand

    magic story very thanks https://radiosfm.fr/levofloxacin-hemihydrate-api-manufacturer-in-india-tezr ciprofloxacino 500 mg sirve para la garganta President Obama has maintained that he will veto any legislation that seeks to delay or defund his signature domestic achievement, and Democrats have vowed not to negotiate over the debt ceiling. There is no precedent for a U.S. debt limit default, but there is consensus that it could have sweeping, negative consequences for the U.S. economy.

  • پیوند نظر Alfred جمعه, 17 دی 1400 ساعت 10:24 ارسال شده توسط Alfred

    Will I get travelling expenses? http://www.gruvevents.com/pharmacy/omeprazole-zantac-interaction-mnjk.html esomeprazole usp reference standard His charity has designed and built the first of ten specially adapted track cars fitted with dual controls, twin steering wheels, hand controls and a hoist to assist people in and out of the car if required.

  • پیوند نظر ААtpdoswi جمعه, 17 دی 1400 ساعت 10:24 ارسال شده توسط ААtpdoswi

    http://clck.ru/agkEC

  • پیوند نظر Manuel جمعه, 17 دی 1400 ساعت 10:23 ارسال شده توسط Manuel

    What's the last date I can post this to to arrive in time for Christmas? https://pecashyundaiekia.com.br/advair-diskus-indications-ghcm advair diskus wiki I take offense of the new term libertarian Republicans. I find it very hard for anyone to be both. Republicans and Libertarians agree very little. I guess we have to blame the two party system and the GOPs and DNCs control of the election process for not allowing any other parties representation in our government.

  • پیوند نظر Terrell جمعه, 17 دی 1400 ساعت 10:23 ارسال شده توسط Terrell

    Looking for a job https://www.aydinkaracamobilya.com/cheap-dexlansoprazole-rvyy cheap dexlansoprazole From day one, we have said that this legislation is arbitrary and discriminatory and that it discourages investment in Washington. We have gone to great lengths to have thoughtful conversations with council members about why the LRAA would result in fewer jobs, higher prices and fewer total retail options. Most shopping dollars would stay in the suburbs, unemployment would remain in the double digits in some neighborhoods, and underserved communities would continue to have disproportionate access to affordable groceries.

  • پیوند نظر Stephen جمعه, 17 دی 1400 ساعت 10:23 ارسال شده توسط Stephen

    I'd like to pay this cheque in, please https://www.aydinkaracamobilya.com/terabet-clobetasol-cream-ip-ekud clobetasol propionate price in canada GN and rival Sonova have won over many customers with their more technologically advanced and broadly priced hearing aids, leaving William Demant struggling to market its primarily high-end, more expensive, products in 2012.

  • پیوند نظر Loren جمعه, 17 دی 1400 ساعت 10:23 ارسال شده توسط Loren

    Free medical insurance https://digitalgranth.com/lisinopril-and-hctz-side-effects-ekud lisinopril bradycardia "It suggests that the Philippines will be able to present its arguments on the merits of the case as soon as the jurisdictional hurdle is overcome...If I was sitting the Philippines' chair right now I would be happier than sitting in China's," said Schofield, a professor at the University of Wollongong in Australia.

نظر دادن

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