- Having been admitted to Iran Fara Bourse’s market in February 2015, Amin Reinsurance Company, with $42.1 mn in capital, publicly offered 10% of its shares, equal to 155,000,000 shares, today. Amin, with the TKZM1 symbol on IFB, is the first reinsurance firm in Iran and second one in Iran Fara Bourse, active in all insurance classes, since 2003. It has predicted to recognize $0.008 EPS for the FY ending 22 September, 2016 and estimated its next year’s EPS to bottom out at $0.006. The main shareholders of this reinsurance are Asia and Iran Insurance Companies, with 16.8 and 20 percent each, and IFIC, Saba Investment Co. and Saba Tamin Co. with 16.4, 11.1 and 10.8 percent ownership, respectively.
- Developing a blueprint for self-reform of the regulatory body, the CBI governor announced that it has prepared 54 projects to prepare for the post-sanctions era. Mr. Seif stated that implementing such plans can encourage commercial banks to start their own structural reforms. He also added that adapting to international banking standards would be a challenge for Iranian banks in the post sanction era, despite the recent improvements in the banking sector.
- According to the CBI governor, $30 bn of Iran’s frozen assets will be unblocked in the following week which accompanied by the SWIFT reconnection can positively affect the country’s economy.