IFP Exclusive

Head of Securities and Exchange Organization of Iran steps down amid loan row, red market

The Chairman of the Board of the Securities and Exchange Organization of Iran Majid Eshghi confirmed on Saturday he resigned from the post after a long period that the markets have been in the red, and days into a reported row over low-rate bank loans he received.

Eshghi said he tendered his resignation in his first meeting with the newly-appointed Minister of Economy Abdolnaser Hemmati, which was approved by the minister.

He, however, dismissed reports of friction and a heated debate during the meeting.

Iran’s stock market has been the least profitable among investment markets during Eshghi’s stint.

The decision also comes days after a letter was disclosed about details of grating ‘low-interest loans’ to five stock exchange officials, including Eshghi.

On Thursday, Hemmati announced he has launched an ‘urgent expert review’ of the report.

IFP Media Wire

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