By Khalid Kazimov –- Trend:
The total assets of Iran capital market are 8,800 trillion rials (about $293 billion for 29,900 rials per USD), Head of Iran’s Stock Organization Mohammad Fetanat said.
The capital market’s share in funding companies is 42 percent, 340 trillion rials, he added, Sana news agency reported August 31.
The tax revenues of stock companies paid directly to the government in the Iranian fiscal year 1392 (which ended March 20, 2014) reached 42 trillion rials, he said.
But the amount experienced a 37 percent decline the following year due to economic downturn, Fetanat stated.
There are about 400 companies whose shares are dealt in the Iranian stock market and the OTC.
The assets of these companies are worth 33 trillion rials, making up 35 percent of the country’s gross domestic product.
Fetanat said over 7 trillion rials worth of bonds, goods, and energy carries were traded in the stock market last Iranian fiscal year.
The Tehran Stock Exchange main index started with 89,500 in 2013. But, it dropped gradually so that it plunged to 61,500 in winter 2014. On the first working day of the current Iranian fiscal year (March 25, 2015) it was 62,885.
TSE trades a range of shares, funds and financial instruments, including Sukuk and Islamic funds. It has not received foreign investment for several years because of sanctions over Iran’s nuclear program.