"While the volume of trade by March 2018 for the four bourses was 2,450 trillion rials, it reached 3,080 trillion rials by February 19 -- a 70% increase," Fallahpour told a press conference to announce the International Exhibition of Exchange, Bank & Insurance (FINEX 2019) planned for April.
"Demand for financing via capital markets by both the government and private sectors has increased dramatically."
He added that “The best way to finance the economy is through the capital market for which the other two sectors of the economy, namely banking and insurance sectors, are coordinating with us to tap the capital market for divesting their excess properties."
About the much-touted insurance bonds, Fallahpour said their issuance has been approved by the SEO and after final endorsement by the SEO High Council the official issuance will come into effect, according to Financial Tribune.
As part of reforms in the limping banking sector, the government has launched a program to sell excess property of the bloated state banks.
According to Economy Minister Farhad Dejpasand, a one-year program is underway for 10 government-owned banks (including the biggest lenders) to relinquish their excess assets (mostly real estate) and increase their cash reserves.
Dejpasand has put the amount of banks' excess property holdings at an estimated 1,000 trillion rials ($7.5 billion).
FINEX 2019
Fallahpour said FINEX 2019 is different from its past 11 editions in that Iran’s capital market simply cannot be compared to a couple of years ago, not even to a year ago.
FINEX 2019, considered a key event of Iran's financial markets, will be held April 22-25 at Tehran International Permanent Fairgrounds. The governor of the Central Bank of Iran, head of SEO and president of the Central Insurance company usually address the annual gathering.
So far 115 companies from different economic spheres have said they will attend. "Taking into account startups and the mass media the figure will reach 220."
There are plans to hold educational courses during the expo to help familiarize the public with the new financing tools and regulations.
The official said despite the new US economic sanctions, participants from foreign countries will also be present in the event.