Economy / Iran
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Bank Privatisation Continues Despite Sanctions
December 2007 | Economic AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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In line with our view that Iran will weather the storm of international sanctions in the short-term, Bank Mellat has announced that is it going ahead with a long-standing privatisation plan. Although the US imposed new sanctions on Bank Mellat in October - as well as highlighting alleged 'terrorist' activities - 5% of its shares will be floated on the Tehran Stock Exchange by the end of March 2008. The rest will be sold over the next three years to both foreign and local investors, with each allowed to buy a maximum 10% of shares. However, with economic sanctions weighing