Iranian Banks Allowed to Invest in the Stock Market
As the stock market continues to plunge, the High Council of Securities and Exchange said banks too can invest in the bourse.
This is in line with a variety of measures by the government to revive the share market and boost the morale of retail investors seeing share prices getting ever closer to junk territory.
Attended by top economic and banking officials, the bourse council met Thursday to address the persistent downturn in the stock market, the Securities and Exchange News Agency reported.
After historic gains since the beginning of the current fiscal year (March), the bourse went into a tailspin from early August.