Negotiations between the Stock Exchange and the Central Bank on the interests of shareholders – Tejaratnews
According to Tejarat News, the head of the stock exchange organization said in the specialized meeting of the basic metal industry table: In the budget of 1402, we reflected many things that the activists of this field announced, and the parliament should have good approvals in this field in order to increase the production and profitability of the industries.
He added that changes have been made in the Central Bank’s policies and it will take time to judge its impact and function in the future, but during the negotiations, we told the Central Bank that it should consider the interests of the shareholders.
Eshghi said: Regarding the issue of multi-point corporate governance, which was not enforceable, it was amended and we are seriously pursuing its implementation. Companies should make the necessary arrangements. The excuse of ignorance and lack of training is not accepted by the companies and they must be serious in implementing it. (Source:Senate)
The certificate of deposit rate was 23%
In recent weeks, in addition to the start of an upward trend by the interbank interest rate, another money market rate has also officially gone up.
It was on the third day of January that the central bank’s executive board issued the license to issue general deposit certificates with an interest rate of 23% and notified the banking network.
Initially, 17 banks and non-banking credit institutions received permission to issue these bonds. Later, 8 more banks were added to this list to make a total of 25 banks and credit institutions to issue 23% general deposit certificates.
Has the deposit interest rate increase been confirmed?
It seems that with the appointment of Mohammad Reza Farzin as the chairman of the central bank, the issue of increasing the deposit interest rate has been decided.
Because Farzin announced last night: the Supreme Monetary Council has allowed the increase in interest rates and this issue has also been announced to the banks. We will definitely use the interest rate tool, but we need to check how it will be used in practice.
Now, it should be seen that increasing the deposit interest rate is used as one of the important tools to control inflation in the world, whether it can help curb Iran’s rampant inflation or not.
What will be the reaction of the stock exchanges?
The increase in the interbank interest rate and the possibility of an increase in the deposit interest rate have caused concerns for capital market participants. So that the stock market turned red today in response to this news.
Therefore, it seems that we have to wait again for the protest of the stock market shareholders regarding the increase in interest rates. But more important than these protests is the Central Bank’s reaction to them.
It should be seen whether Farzin’s reaction to these protests will be to withdraw like Saleh Abadi or whether the new head of the central bank will follow his word.