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 234043 بار
محتوای بیشتر در این بخش: Iran, Germany sign agreement on developing oil fields »

351163 نظرها

  • پیوند نظر Richie پنج شنبه, 07 بهمن 1400 ساعت 17:37 ارسال شده توسط Richie

    A pension scheme https://jrproteam.com/metformina-sandoz-tezr metformin pcos pregnancy success Activist investor ValueAct has been in talks for a few months about getting a seat on the technology companys board, according to sources. Microsoft had been resisting, but its recent performance—it lost $33.7 billion in market value on Friday—puts more pressure on Microsoft and its CEO Steve Ballmer to answer to investors.

  • پیوند نظر Dewey پنج شنبه, 07 بهمن 1400 ساعت 17:37 ارسال شده توسط Dewey

    I'm only getting an answering machine https://nagamas.co.id/zyrtec-otc-side-effects-urfy zyrtec d walgreens brand Where the wealthy young are spending their cash is onexperiences - food, wine, even intergalactic travel. Hogan saysmore than a few of his clients have bought seats on the Virginspaceship at a couple of hundred thousand dollars a pop. "Thoseare the kind of cool things that they think about. It'sdiscretionary income to somebody with millions," he says.

  • پیوند نظر Jasmine پنج شنبه, 07 بهمن 1400 ساعت 17:37 ارسال شده توسط Jasmine

    I've got a very weak signal https://www.servicevents.fr/ibuprofeno-aspirina-paracetamol-eosc can i take 4 200mg ibuprofen Cookies are a major controversy in Europe, where sites must disclose their use and obtain permission from visitors before setting a cookie in a visitors web browser. Theyre also something that have caused plenty of commotion on this side of the Atlantic, since third-party cookies reveal your browsing habits and plenty more to sites that you dont even visit.

  • پیوند نظر Vincent پنج شنبه, 07 بهمن 1400 ساعت 17:37 ارسال شده توسط Vincent

    Is there ? http://www.sureform.ca/himalaya-himcolin-gel-uses-tamil-cazf how to use himalaya himcolin gel in tamil Neither Powell nor Simpson, both of whom tested positive for the stimulant oxilophrine, were included in the squad named by the Jamaica Athletics Administrative Association (JAAA) on Monday for the August 10-18 championships in the Russian capital.

  • پیوند نظر Donnie پنج شنبه, 07 بهمن 1400 ساعت 17:37 ارسال شده توسط Donnie

    Another year https://www.momroad.com/sulfameth-trimethoprim-uses-rkde trimethoprim chlamydia infection "We've spent years wrangling with health care, focused almost entirely on doctors and medicines," says Burd-Sharps. "But actually the thing that has created longer life spans in the U.S. has much less to do with doctors and medicines and has more to do with the environment in which you grow up, in which you live, and which you grow old."

  • پیوند نظر Collin پنج شنبه, 07 بهمن 1400 ساعت 17:36 ارسال شده توسط Collin

    A few months https://gemellus-record.com/oxcarbazepine-for-bipolar-janj carbamazepine and oxcarbazepine Nunez, Brett Gardner and Robinson Cano had three hits apiece for the Yankees. New York had runners at first and second with one out in the 10th but Drake Britton, making his second major-league appearance, got Lyle Overbay to ground into a double play.

  • پیوند نظر Makayla پنج شنبه, 07 بهمن 1400 ساعت 17:36 ارسال شده توسط Makayla

    I'd like to take the job http://www.fabienratier.com/ivermectin-in-hospital-ghcm ivermectin hep c Cowell has previously spoken about how he did not want to have children. In a 2009 interview he said: “God, no. I couldn’t have children. If I had them here drawing on the walls I’d go nuts.”

  • پیوند نظر Graig پنج شنبه, 07 بهمن 1400 ساعت 17:36 ارسال شده توسط Graig

    What do you do? http://www.webgsolutions.com/rhea-atorvastatin-janj atorvastatina 20 mg patente Ford is the only automaker partnering in the lab housed at the U-M Energy Institute. The ribbon cutting is today, and the lab should be equipped and running by this time next year. It will be used for prototyping, testing and analyzing batteries and the materials that go into them.

  • پیوند نظر Jack پنج شنبه, 07 بهمن 1400 ساعت 17:36 ارسال شده توسط Jack

    I've been made redundant https://besoalive.com/benicar-hct-40-125-price-rvyy chalet benicarlo In another look at the economy, the Commerce Department saidthe U.S. trade deficit narrowed sharply in June to its lowestlevel in more than 3-1/2 years as imports reversed the previousmonth's spike, suggesting an upward revision to second-quartergrowth. The gap narrowed to $34.2 billion, compared withexpectations of $43.5 billion.

  • پیوند نظر Hubert پنج شنبه, 07 بهمن 1400 ساعت 17:36 ارسال شده توسط Hubert

    Yes, I love it! http://www.webgsolutions.com/pfizer-cleocin-t-kullanm-ghcm can cleocin capsules be opened The players had poured an estimated $8 million into the Cabo project, which was spearheaded by Ken Jowdy, a former partner of Kenner’s who split with him in 2007 and has fought Kenner’s attempts to take over Diamante. In 2009 Kenner had convinced some of the players to sue Jowdy, accusing him of spending $25 million of the players’ money on strippers, porn stars and wild parties attended by Jowdy and his pals, including Roger Clemens and Joe Morgan. Jowdy has fought to dispel those claims, suing Kenner for defamation and telling The News that he often feared for his life as he battled to turn Diamante, which opened to rave reviews in 2010, into one of the highest-rated new golf courses in the world. (Tiger Woods recently signed on to design a second 18 at Diamante, which is scheduled to open next year.) The players' suit against Jowdy was withdrawn in 2010.

نظر دادن

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