Kish, the gate for foreign investment in Iran’s capital market

Speaking at the inauguration ceremony of Kish Stock Exchange, the seventeenth in the country, Abdeh Tabrizi elaborated on the conditions for accepting the foreign investors in the said exchange market, stating that only the national currency is exchanged in this market. With regard to the current rules, the foreigners are yet to be allowed for investment in the market since all transactions are in national currency, ISNA reported him as saying.  

Also he announced the approval of the bylaw on foreign investment by the TSE Council, noting the bylaw has been sent to the cabinet in order to be finally ratified.

He explained that the said bylaw is in line with the regulations set in the Fourth Socioeconomic and Cultural Development Plan (2005-2010). He added that upon a ratification by the government, the bylaw would make the opportunity for foreigners to purchase up to 10 percent of each stock on the condition of not withdrawing the capital by three years after purchasing the stock.

FK/MA  

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MNA