Kardan Investment Bank

CNBC interview with Majid Zamani, CEO of Kardan investment bank about Iran's growing financial services.

Iran's growing financial services. Majid Zamani, CEO of Kardan Investment Bank, says U.S. sanctions are still preventing some institutions investing in Iran.

New kid on the block! where to now? 2015 was a tough year for investors. Uncertainty in Europe, the Chinese market crash and rising security concerns in the Middle East are just 3 of the many major bumps investors ran into last year and

Turkey's Justice and Development Party winning the country's parliamentary election resulted in a close to 6% hike in TL against IRR. Though some still believe that Turkey's economic problems are ongoing, the news strengthened Lira in short-term.

It is heard the government is prepared to lower feed gas prices below the proposed 13 cents and settle on around 10 cents per cubic meter. This is not verified yet, however, due to the heavy weight of petrochemical industry in the market, lower feed prices are expected to have a positive impact on the market.

The Money and Credit Council meeting was postponed today. Analysts believe the divide between the economic fractions of the administration is at the route of this. While the Central Bank is pushing against a rate cut, the finance minister is pro monetary stimuli to jump-start the economy. The result was further decline of the market today.

CBI announced housing prices had a 1.5% growth in September after a 3-month drop while the volume of trades have decreased by 1.6% in the past month. The real estate market might exit depression if $30k loans for home buyers gets a green light.

The JCPOA special committee read their report after 40 days of deliberations passing that the Iranian administration can comply with the agreement as outlined. The Supreme National Security Council also approved the JCPOA. Publishing the news at the end of trading hours resulted in an increase in buyer activity. The macro environment is moving in the direction of supporting market fundamentals.

"Money and Credit Council will probably decide on cutting interest rates on Tuesday's meeting." said the finance minister. He noted that considering the 13% inflation, 20% or higher interest rates for fixed income deposits with no risks are not reasonable. Lowering interest rates is expected.

Gold surged Following the feds decision to keep rates constant. USD/IRR rates were maintained below 34,000 due to control policy. Expecting stability in gold and currency markets.

A rate hike will be put up for decision at the upcoming fed meeting. We expect a drop in the price of gold and other metals in the event of an increase in interest rates. Although with the current state of the markets, following through with the increase will be harder than before.

The administration has issued its budgetary guidelines to subordinate organizations. At these oil prices, shrinkage is expected on both current and capital expenditures. This is not positive news for the market and is likely to drag the index further down.

Deputy Oil minister in Petrochemicals has stated that companies will receive gas priced at 13 cents and between 3-4 cents per square meter for production and fuel respectively. Taking into account that companies have budgeted for production feed gas costing 8 cents per cubic meter, the impact of this change in policy will reflect negatively on profitability forecasts. Nonetheless, this is one less uncertainty in the industry and will help grow trade volumes.