Karafarin Bank Boosts Investments

 In his statement, Dr. Alireza Fahimi stated: “The capital increase of Karafarin Bank Investment Company has been approved by Karafarn Bank, which is the main shareholder of this company. Furthermore, capital increase by 576% has taken place in order to comply with the new instruction for issuing licenses to brokerage companies.”
“One of the main objectives of capital increase is to become compatible and to sustain compatibility and to offer better services to customers. This capital increase shall boost company profitability in the medium and long-term and shall enhance its rating among brokerage companies as well as its financial ratios.’ he added.
Based on the minute of the Extra Ordinary General Assembly of Karafarin Bank Brokerage on 19 April of current year, the capital of this company increased from IRR150 billion to reach IRR1 trillion. The funding of this capital increase which was registered at the Companies Registration Department on 05 July 2021, came from accumulated profits, cash and shareholders’ claims. Dr. Fahmi also stated: “Ever since Karafarin Brokerage Company was formed, it has been among the most effective brokerages in the capital market. This company is determined to offer services according market conditions and requirements of the investors. In addition to offering general brokerage services in securities, Iran Mercantile Exchange and Energy Exchange, this company has two investment funds, namely: Karafarin Mutual Fund and Arman Fund, both of which are fixed income mutual funds.
The Managing Director of Karafarin Brokerage Company also stated: “According to the latest statistics of the Financial Information Processing Centre of Iran in June 2021, Karafarin Mutual Fund (fixed income) is among the top nine investment funds and one of the five-star funds in Iran. This fund, which is wholly owned by Karafarin Bank is also Iran’s first index fund. Its returns were 13.6% in June this year, whilst total index was only 5% in the same period, an outstanding performance compared to the total index.
Karafarin Brokerage Company commenced its brokerage operations in the Tehran Stock Exchange as of June 27th 2006.