– The 11th Iran FINEX (financial exhibition) is to take place from tomorrow until Thursday, Mar 19, 2018, on Tehran International exhibition premises with the participation of 392 domestic and foreign finance-related firms. Big international names like EY, Capital Intelligence, Incentage and Alpari group are to not only have booths in Iran FINEX but also carry out educational workshops for Iranian attendees.
– After the other day’s news on USD/IRR Unification, the Central Bank of Iran changed the scheme of Iranian gold coin pre-sales. Following the administration’s decision to return stability to currency and gold markets, CBI’s chair announced that the pre-sale of “Bahar Azadi” coins shall be in line with the following table:
– Treasury Department of Iranian government announced the issuance of Sukuk Musharaka (on Iran Debt Market) worth IRR 2,000 bn (cUSD 42.03 mn) capitalizing the fast tracks (high-speed train) between Tehran, Qom and Isfahan provinces. These securities will be issued with a nominal yield of 20%, a maturity of 4 years and semi-annual coupon payments. The below table shows the latest status of Iranian debt market as of March 28, 2018.
– Following the policies to expand the scope of Iran Debt Market and providing Iranian companies with proper finances via debt securities, a new wave of corporate and governmental Sukuks are to be published soon on Iran Fara Bourse and Tehran Stock Exchange (see description below):
– According to the Central Bank of Iran’s (CBI) statistics, the government’s tax income has surpassed its oil revenue of Iran’s Economy by IRR 76,000 in the first 10 months of the current year. In this regard, the Minister of Economic Affairs and Finance released a plan to revive the country’s current tax system in 2018/19 which contains 3 new tax bases as well as organizing tax exemption schemes mostly through lowering its ceiling in free trade zones and agriculture sector among other things.
– The cabinet members released the initial draft of bylaw governing the partnership between Iranian banks and credit institutes and foreign counterparts, either individuals or institutions. According to the new bylaw, the caps for foreign participation on Iranian Banks and credit institutes are as follows:
– In an attempt to utilize the capacities of Iran’s Debt Market, Social Security Organization of Iran is to issue IRR 10,000 bn (cUSD 223.46 mn) worth of Sukuk Ijarah with a nominal rate of 20%, the maturity of 1 year and semi-annual coupon payments. The underlying asset is, for the first time, 7.89% of “PTAP1″ shares priced at IRR 1,266 per share. Bank Refah will act as the guarantor of this securities paying the principal and interest in case of default.
– Today, IRR 30,000 bn (cUSD 670.39 mn) worth of Sukuk Intifa’a offered to the public on Iran Fara Bourse. These securities have a nominal yield of 20% with semi-annual coupon payments and will be matured in 48 months. “SF1Q1” is to finance the administration for the repayment (principal and interest) of previously issued securities in 2017/18 with regards to the Budget Bill.
– The CEO of Iran Fara Bourse announced the launch of M&A platform in IFB’s third market, following President Rouhani and the Minister of Economic Affairs and Finance statements on the government decision to divest extra assets of Iranian banks and insurance companies via providing the IFB with the list of total divestible assets to pave grounds when probable buyers are known. The platform seeks the goal of accelerating divesting companies and will improve transparency in Iran’s economy.
– The total net asset value of Iranian Investment Funds has been reduced by IRR 57,000 (cUSD 1,280.32 mn) in a period from mid-November 2017 until March 24, 2018. Despite the negative effect that CBI rescue package had on Iranian Investment Funds, there has been a change of investment theme among them. According to the latest stats, the share of CoD (Certificate of Deposits) is now reached from 76.6% to 70% for both equity and fixed income funds. Elsewhere, the size of equity and debt securities investments rose by 1.4% and 5.1% respectively. The below table demonstrates the facts in figures: