14 Percent Growth for Financing of Producers During last Iranian Year
Last year value of financing of listed producers hits 202,000 Billion IRR (6.3 Billion USD) so this exchange can play a significant role in to boom the business in Iran.
According to the report from IME international affairs and PR, Dr. Hossein Panahian the CEO of Iran Mercantile Exchange uttered: “Forward contracts is regarded as one of the significant financial instruments to guide the financial sources to production section. This type of contracts also, provide midterm and long-term planning possibility for producers and based on this fact, during last Iranian Year total value for financing of companies reached to 202,000 Billion IRR (6.3 Billion USD) which shows a 14 percent growth comparing its former year.
Lack of these financing instruments in order to pave the ground for such guidance is one of the proofs of business failures in Iran in production sections comparing to other industries and economic sectors. Following to this fact, last year 47 percent of total traded value in Iran Mercantile Exchange was done based on forward contracts.
From the total financing value of IME trades, 164,906 billion IRR (5.15 Billion USD) was dedicated to Metals and minerals products that show a 17 percent growth based on a year on year comparison. Also 37,957 billion IRR (1.18 Billion USD) was the share of the oil related and petrochemical products value.
Comparing to banking system, financing solutions is much more facilitated for the production sector and regarded as a safe and easy instrument for them.
Panahian also added: “IME provides a condition for its suppliers to achieve its needed financial sources for the coming quarter, so that each supplier which observes the related rules and regulations for this condition can easily benefit from these financial instruments.