Signing a confidential contract on the stock exchange
According to Tejarat News, Amir Mehdi Sabai, noting that the National Development Fund has invested 12,500 billion tomans in the stock market in exchange for a predetermined profit, said: “Since the National Development Fund is an investor, The nature of the contract reached with the signing of the Capital Market Stabilization Fund is confidential; That is, the contract was exchanged in secret; However, the financial statements of the Stabilization Fund are planned and will be disclosed soon after obtaining the relevant permits, after which the rate and terms of the contract will be considerable in the notes to the published financial statements.
Regarding the fact that the National Development Fund has announced its intention to invest directly in the capital market, he said: “The fund has made a policy to invest one percent of its resources in the deposit consolidation fund in addition to the resources under the equivalent of Rials.” Make other investments in the stock market, and the Stabilization Fund is not in a position to explain the National Development Fund’s low investment portfolio, but in general the Stabilization Fund can be a tool to facilitate this investment.
The Chairman of the Board of Directors of the Capital Market Stabilization Fund explained about the amounts that the National Development Fund has so far deposited in the account of the Capital Market Stabilization Fund: The National Development Fund is scheduled to transfer the equivalent of 510 million Rials to the Stabilization Fund.
So far, 3984 billion tomans, equivalent to about 168 million dollars, have been deposited in the account of the stabilization fund. In fact, the Stabilization Fund received Rials, but its exchange and conversion was based on the ETS rate of the day of deposit or the electronic trading system of the Central Bank.
He continued: the rest will be paid in the form of monthly phased deposits up to 650 billion tomans per month to complete the ceiling equivalent to 510 million dollars. The rest is about 8500 billion tomans based on the daily rate, in other words, if the ETS rate does not change, another 8500 billion tomans must be deposited in the stabilization fund.
Sabai added: the monthly deposit will be made in April and May; Therefore, the Stabilization Fund was equipped with new liquidity and this process continues on a monthly basis.
According to him, these amounts will help the capital market in the days when the market is not favorable.
Source:ایسنا