Uncertified credit institution Samen has surprisingly recieved the central bank�s permission to issue shares, IRNA reported.

Central Bank Vice Governor for Supervision Hamid Tehranfar said, �Samen credit institution�s request to issue shares in the Iran Fara Bourse has been approved and the institution will enter equity markets.� IFB is Iran�s over-the-counter market, modeled after the Nasdaq stock market in the United States. Currently, it has laxer standards compared to those of Tehran Stock Exchange, allowing smaller companies to offer shares to the public. Samen will now be recommended to the Securities and Exchange Organization to get its permit to issue stocks on IFB. However the institution remains uncertified, as it still does not meet central bank�s criteria. The institution is cooperating with the CBI to receive a permit of operation.

By Financial Tribune