FATF goes easy on Iran in the upcoming report!
– Unconfirmed sources have that it is highly possible for FATF to leave Iran another 4 months joining the CFT convention and implement anti-money laundering and anti-terrorism financing amendments accordingly. The task force meeting held just the other day was apparently positive on Iran actions that are taken so far, however, they have serious warnings this time on their next statement to be published on Thursday.
– Iranian parliament gave the green light to the administration on borrowing USD 5 bn in forms of investments or direct loan. Up until today, the Iranian government used USD 2 bn of such figure and senators extended the tenor for the next year coming so unfinished projects could be funded with the remaining 3.
– From today on and for three trading session, Iran Fara Bourse is to host another issue of securitized debt instrument this time for a listed automaker. The issue is backed by future auto leases agreements and will be matured on 19 Feb 2022 and have a 16% annual yield with quarterly coupon payments. Tamaddon IB would act as the book-runner while Pasargad bank guarantees the issue.
In the Market
After a period of absolute depression, equities woke up from their winter hibernate and showed signs of improvements over the last two trading sessions. TEDPIX (+0.44%) advanced for the second consecutive days and closed at 157,387.39 level after all. IFEX (+0.93%) performed even better while trades volume and value picked up from the lowest previous levels.
Analysts believe that stocks are at their best value these days and now it would be a good time for entrance, a fact that has been approved eyeing the participation of the retail side which shows a slight yet promising rise. Meanwhile, things are hot on parallel investment markets as FX rates hiked for the second day in a row. The USD/IRR reached +130,000 level while the price of Bahar Azadi Gold coins is now hovering around IRR 45,500,000 area. Gold-backed ETF of Lotus Parsian IB recorded performance of +5% in a matter of days while the global ounce price also helps in handy pushing the prices even higher.
It is believed that all investment markets keep their volatile status for a while as the weight of uncertainties is now heavier than before in both political and economic areas. The upcoming FATF statement on Iran would impose lots of pressure on all markets and some experts expect the current situation could hold on until the year-end.
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