BoC authorizes Iran to buy stocks of Chinese banks

TEHRAN, Jan. 26 (MNA) – Purchasing stocks of Chinese banks by Iran’s private sector entities is at the final stage, so that Bank of China (BoC) issued necessary license for this move.

Buying stocks of Chinese banks by Iranians has long been raised.

For his part, Chairman of Iran and China Joint Chamber of Commerce Asadollah Asgarowladi said, “suitable ways have been paved for Iranian private sector entities to buy stocks of Chinese banks but finalizing it requires issuing necessary licenses by the Bank of China (BoC).”

Currently, Iran’s private sector has prepared suitable ground for purchasing stocks of Chinese banks as well, he observed.

However, BoC should issue necessary licenses for Iranian side in this respect, Asgarowladi said, adding, “Iranians are authorized to buy only 10 percent of stocks of Chinese banks.”

An official in charge of private sector, on condition of anonymity, said that Iranian investment volume to buy stocks of Chinese banks stands at below $100 million.

For this purpose, Iranian private sector entities, willing to buy stocks of Chinese banks, should refer to the Central Bank of Iran (CBI) and submit their request for receiving the pertinent license, he concluded.

MA/4210148

News Code 131624

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