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Iran’s Stock Market Has Been Booming [post_view]
In the photo, Iranians monitor their stock prices at the Tehran Stock Exchange. The Tehran Stock Exchange, which first opened in 1967, is Iran’s largest stock exchange. And trading on the exchange is soaring.
A 23-year-old college graduate named Samira who bought her first shares at The Tehran Stock Exchange shared the excitement of her experience. She planned to put down a $600 investment in the market. “Anyone you speak to these days will tell you the stock exchange is the best place to invest right now,” she said.
Hassan Rouhani, 65, who was elected in June, is the president of Iran and Iranian’s are seeing evidence of his promises to Re-establish connections with the world’s economy after decades of crippling sanctions. Banks and oil companies have been among the biggest gainers in Iran’s stock market.
Iranians are taking their money out of conventional assets such as gold and real estate to free up money to invest in the stock market. A Tehran-based investment boutique Turquoise Partners stated that an international investor can’t buy more than 10 percent of a company’s shares and any involvement is limited by banking restrictions, as reported by Bloomberg News.
Oil minister Bijan Namdar Zanganeh said earlier this month that he’s seeking to lure international companies which include the Exxon Mobil Corp. and Royal Dutch Shell Plc once sanctions are lifted.
Image Credit: www.businessweek.com
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