The Iranian Securities and Exchange Organization has issued a licence for three banks to issue a combined total of about $1.7 billion in mortgage-backed securities, the banker says.
Hossain Abdoh Tabrizi of Bank Eghtesad Novin says that about $500 million in residential mortgage-backed securities will be offered to Iranian investors, probably by the end of September – or at the latest by the end of November. Tabrizi runs the investment banking arm of Bank Eghtesad Novin, one of the country’s biggest private-sector banks.
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