Tuesday, February 19, 2008

Iran says to launch investment banks next month-FT | Reuters

Iran says to launch investment banks next month-FT | Reuters

LONDON, Feb 11 (Reuters) - Iran will launch its first investment banks next month as part of efforts to speed up privatisation and dodge U.S. restrictions on its banking sector, the Deputy Finance Minister told the Financial Times on Monday.

Heidari Kord Zangeneh said in an interview the three banks will help the Islamic Republic to sell all public companies by 2015, including steel, banking and telecoms operations.

"We are going to activate our private sector and our private banks... in order to fight against these (U.S.) sanctions," Kord Zangeneh said, referring to the United Nations-imposed sanctions for Iran's refusal to suspend nuclear activities which the West fears are aimed at making atom bombs.



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