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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iran resorts to sell its stake in banks and guarantee companies to face Corona

    Rocky
    Rocky
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    Iran resorts to sell its stake in banks and guarantee companies to face Corona Empty Iran resorts to sell its stake in banks and guarantee companies to face Corona

    Post by Rocky Sun 26 Apr 2020, 10:09 am

    Iran resorts to sell its stake in banks and guarantee companies to face Corona


    Iran resorts to sell its stake in banks and guarantee companies to face Corona 20444




    The Economy News - Baghdad
    Iranian Minister of Economy and Finance, Farhad Dagbsand, revealed that the government will shortly put up for sale the rest of its shares in 3 banks and two guarantee companies, to face the repercussions of Corona, after the International Monetary Fund lent to its lending.
    He said in statements followed by "Economy News" during a meeting with experts in the investment market, that the rest of the government’s shares in 3 banks and two insurance companies, with a value of 165 trillion riyals (a dollar equivalent to 42,000 riyals officially), will be offered for sale within the framework of an investment fund that can be treated on the stock exchange ( ETF) entitled "First Financial Brokerage".
    He added, that the subscription process for selling the units of this fund lasts two weeks. (Yesterday kicked off Saturday)
    He explained that a reduction in the purchase of units of this fund was taken into consideration by 20%, of which 15% is in cash and 5% will remain with the fund to manage the units market.
    The Social Security Investment Corporation is one of the largest investment companies run by the state, via the Tehran Stock Exchange, and the sale of shares thereof is an attempt to raise funds to combat the Corona virus, according to Iranian President Hassan Rouhani at a cabinet meeting, and reported by "Bloomberg" agency.
    The Social Security Company for Investment, also known as Shasta, is one of the state’s investment arms, which provides health and insurance coverage for about 40 million Iranians.
    This comes after a senior IMF official told Reuters that the fund is still assessing Iran's request for emergency financing of $ 5 billion in a process that will take time due to reasons, including limited communication by the Fund with Tehran recently.
    This is Tehran's first request from the International Monetary Fund since the country's Islamic revolution in 1979.


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