Islamic Finance to revive Iran Capital Market!
- Hosting senior manager of Iran Capital Market, Banks’ CEOs and practitioners in the Islamic finance, the second Islamic Finance conference was held the other day. Among the most important topics discussed were financing through the capital market up to IRR 1,000,000 bn until the end of the year, attempts to implement independent option trades, launching venture funds, obliging companies to follow IFRS measures to bring transparency to the whole economy, formulating 5 to 10 year plans along with attempts to help export companies grow through the IME can be named.
- In his live talks to the nation the other night, referring to the signs of economic growth seen in the country, President Rouhani stressed that more attempts and hard work is needed to attract investment in the country aimed mainly at modernizing oil industry facilities. Being asked on the government role in intentionally devaluating the national currency, he seriously denied it and said that the recent devaluation was temporary and due to the holiday seasons and the government is still determined to maintain this value along with controlling the inflation rate.
- Referring to the probable rise of inflation within the next few months, experts believe that Iran economy is not ready yet to have inflation rate lower than a certain point. Reporting that the downward trend for this rate seems to be stopped at 8.6%, they agree with the statements by the minister of economy and financial affairs on the government unwillingness to pull down this rate further because they believe that it might have negative consequences for the country.