EghtesadOnline: Iran Mercantile Exchange is planning to debut real-estate trading by the end of the current fiscal year (March 20, 2018) to help the domestic housing sector exit recession, according to IME chief, Hamed Soltaninejad.
“IME’s financial instruments can help make the stagnant capital in the housing sector productive,” he said, adding that the instruments can encourage anyone with any amount of capital to invest in housing, which will in turn help revive the sector through attraction of even minor investments. IME has already held talks with the Union of Tehran Real-Estate Consultants and Maskan Investment Group in this regard. The trading will take place using salaf contracts. Salaf is an Islamic contract similar to futures contracts used to forward sell an underlying commodity with a predetermined interest for the period. In order to trade the contracts before their maturity, standard parallel salaf will used, according to Financial Tribune.