INSUBCONTINENT EXCLUSIVE:
TEHRAN - The National Development Fund (NDF) has deposited 10 trillion rials (about $35.7 million) into the stabilization fund to support
the stock market, head of the Capital Market Development and Stabilization Fund, Amir-Mahdi Sabaei, said on Saturday.Sabaei had previously
announced the allocation of 120 trillion rials (about $429.4 million) of NDF resources for the Capital Market Development and Stabilization
Fund, IRNA reported.According to the official, the NDF deposits into the Capital Market Stabilization and Development Fund are being made as
promised.Sabaei noted that NDF is scheduled to deposit at least another 60 trillion rials (about $214.7 million) into the fund by the end of
the current Iranian calendar year (March 20, 2023).According to the official, NDF has so far deposited more than half of the promised 120
trillion rials into the stock market development fund.The official said the rest of the funding will also be paid based on a mutually agreed
schedule, adding: "We hope that the rest of the deposits, like the deposits made so far, will be made regularly according to the agreed
schedule."Sabaei had previously noted that in addition to the resources received from NDF, the fund can also be financed through the money
and capital markets.The allocation of financial resources from NDF to the Capital Market Stabilization and Development Fund is one of the
to improve the stock market, the Government Economic Coordination Headquarters convened a meeting on November 2, 2021, chaired by President
Ebrahim Raisi, during which a decision was made to inject new resources from NDF into the Capital Market Development and Stabilization
Fund.Based on the statute of the Capital Market Development and Stabilization Fund, the resources of this fund can be provided from three
main sources, the first is the government investment which should be foreseen in the national budget bill, and the second is the allocation
of one percent of NDF resources for this fund, and the third source would be the allocation of a part of the trades commission received by
the Securities and Exchange Organization (SEO).According to Sabaei, currently, 30 percent of the SEO commissions are deposited directly to
The money loaned from NDF should be repaid over a specified period and the maturity can be extended
The Capital Market Stabilization Fund is responsible for paying the principal amount plus interest.EF/MG
