Middle East Economic Survey


No 21



Quick Sale For Bank Tejarats Share Offering

Bank Tejarat became the second state-owned bank after Bank Mellat to offer part of its shares for sale in a bid to privatize Irans banks, under the amendment of Article 44 of the Iranian constitution. The Iranian media announced on 18 May that 6% of Bank Tejarats shares were sold to private investors for a total of IR754,000mn (about $76mn) in a very short time. Commenting on the quick sale an...