International Financial Reporting Standards (IFRS)

Since the introduction of International Financial Reporting Standards (IFRS) in 2003, the way in which private and listed companies manage their business, financial records and end of year reporting has gone through a major transformation. The various revisions to IFRS from 2008 to date have created a much improved framework for managing the administrative and financial affairs of companies across the world.

Iran is now starting to accept that adopting IFRS is a stepping stone towards accessing credit from international markets. International financial markets expect company accounts to be presented in accordance with IFRS in order that they can apply uniform risk assessments across markets. If Iran is to compete in the international arena, it needs to have a road map for adopting IFRS,

Finity Asset can assist forward thinking companies in Iran thinking of implementing IFRS. Our experts are able to review existing administrative, ERP, HR and accounting processes in place and provide a detailed proposal for migration to IFRS. In order to find out more about our service please contact us by Clicking here: and one of our executives will contact you.

DELIVERING SOLUTIONS

Resurgent Iran is the last great frontier in the emerging markets offering significant opportunities in a country with vast natural resource endowment and home to 80m people. Unlike most emerging markets though, Iran’s population are highly educated helping to make Iran rank among the world’s most exciting trading centres.

Finity Asset partners able to capitalise on their background, experience and local contacts to provide strategic advice and assist those who are contemplating entering the Iranian market either as investor, operator or service provider. Through our extensive knowledge of the Iranian market, local practices, fiscal / regulatory regime and our deep routed contacts in both government and industry we can assist companies operating in Natural Resources, Construction, Retail, Pharmaceutical and Financial Services.

Finity Asset can help with due diligence, marketing/promotion, deal origination and high level introductions across both industry and government departments.

 

EXPERTISE
MODERN

Construction

The construction sector in Iran is thriving with returns far exceeding yields found anywhere in Europe. Commercial, infrastructure, residential, tourism and construction projects are available across the country and local banks now offer finance solutions to capable management teams. Finity Asset can help with due diligence on projects, companies and localities for groups looking to take part in the construction market of Iran. We can also recommend finance solutions and local investors/partners for those looking for JV’s.

MODERN

Natural Resources

Iran is a significantly important contributor of natural resources globally with world largest Gas reserves and 3rd largest oil reserves, in addition to major mining opportunities (Zinc, Lead, Copper, Iron, Bauxite, Gold, Silver, Rare Earths, Bitumen and many more). The mining laws in Iran are very investor friendly and foreign groups can hold 100% of mining licenses. The FIPPA program provides major investment incentives to foreign groups and the infrastructure offers extensive roads and electricity.

MODERN

Energy

The Energy market in Iran is evolving with a gradual diversification from gas powered turbines to renewable and green sources of energy. Finity Asset is working closely with the ministry of Energy and can help groups looking to enter the Iranian market with advice on how the market is regulated, the various tariffs and service contracts in operation and the process for being granted license to operate. The breadth of our local & industry knowledge offers a full range of solutions, from insights to strategy and on to implementation.


MODERN

Pharmaceutical

The pharmaceutical industry in Iran has grown organically since 1990 with local manufacturing now able to meet the needs of the local market. There are numerous JV opportunities for pharmaceutical companies looking to establish a presence in Iran. Finity Asset offers a comprehensive list of services including due diligence, regulatory framework and industry bodies/practices advice, marketing/promotion and high level introductions to decision makers.

MODERN

Financial Services

Iran’s financial services sector has grown at a very aggressive rate since1990 & there are new banks & credit institutions being formed regularly. The insurance market is also evolving rapidly to meet the demands of the new investors & projects entering Iran. The Iranian banks, insurers & traders are well positioned financially & keen to participate in capital markets. Finity Asset can help with JV opportunities, high level introductions, due diligence & regulatory advice.

MODERN

Retail

Retail is a fast-paced business. The saying, ‘innovate or die’ has never been more apt everywhere & even more so in the emerging Iranian retail market. Our Strategy is by laying the foundations for top-line growth, business development, mergers & acquisitions. Marketing is done by creating tangible value for consumers by optimising the marketing mix based on a deep understanding of the local requirements or the traditional way of doing business.

OUR APPROACH

Iran economy still hasn’t received a boost from sanctions relief, and big banks that left the country are very cautious in returning to Iran too quickly. This slow pace of change has left many senior leaders at multinational companies looking for help to verify the potential. Despite a weakened economy, market uncertainty, and the lingering effects of sanctions, Iran remains an important opportunity for multinationals in emerging markets.

Compared to most oil-rich countries in the Middle East, Iran has a diversified economy, its tourism sector is on the verge of a major windfall, and threats to its political stability are in decline. The country’s urbanized and large middle class has maintained a strong preference for foreign-made products despite restrictions due to U.S. sanctions and a fragile economy. Senior executives should not lose perspective on the enormous opportunities in Iran, but they must be prepared to navigate some serious challenges.


UNDERSTAND
THE LIMITATION

Whilst, for non-U.S.-based companies, many relevant sanctions have been suspended, and most International and EU-level restrictions were eliminated after the nuclear deal in January. Large European banks in particular are not yet ready to return to Iran even though they are permitted. Financial institutions remain anxious because of the $15 billion in fines banks have paid for sanctions violations over the last five years and the difficulty of avoiding the U.S. financial system for bank transactions related to Iran. Finity Asset works in partnership with a Iranian-based consultancy with extensive on-the-ground contacts and consultants to provide clients with an unrivalled depth of insight.

Turning problems
into solutions

The new opportunities in Iran presents investors with potentials of both rewards & risks. The country remains less reliant on oil revenue than the rest of the Gulf States, because for 3 decades under sanctions they were forced to develop local content. Foreign companies are now in the position to seize the opportunity ahead of their competitors. While the oil & gas sector gets the most attention, Iran’s diversified economy is attracting companies across industries, in particular, consumer-oriented sectors. Finity Asset is currently helping clients with the task of ‘Re-engaging with the Iranian market’

DOING BUSINESS IN IRAN

20% of world’s oil trade passes through the Strait of Hormuz, the narrow waterway off Iran’s southern coast making it the world’s most strategic transit points. Furthermore, the International North-South Transport Corridor will make Iran a key link in connecting India, Central Asia, and Russia, while Iran’s role as part of China’s new Silk Road (especially with rail links) could boost bilateral trade between those countries to up to $600 billion. There are lucrative export and investment opportunities in Iran, which is also seeking to tap into its mineral wealth, and in emerging giants such as India, Pakistan, and Turkey, which need natural gas to fuel economic development.

PREPARING FOR
THE UNEXPCTED

During the sanction years, Iran’s economy became markedly diversified but realised only a fraction of its potential. With the change a remarkable opportunity exists to recover from decades of under-investment. Iran has the capacity to become a major energy exporter, and an integral part of the global economic system. Also Iran presents an important opportunity for multinational companies that operate in emerging markets. However, managing expectations about the country’s trajectory is crucial for building an effective strategy. At Finity Asset we can guide you through a smarter approach that will find the sweet spot: advancing ahead of competitors while sidestepping first-mover mistakes.



PLANNING YOUR
ENTRY TO IRAN

Whilst most U.S. companies can’t do business in Iran, for non-U.S.-based companies, many relevant U.S. sanctions have been suspended, and most national– and EU-level restrictions were eliminated after the nuclear deal in January. Large European banks in particular are not ready to return to Iran even though they are permitted. Financial institutions remain anxious because of the $15 billion in fines banks have paid for sanctions violations over the last five years and the difficulty of avoiding the U.S. financial system for bank transactions related to Iran.

UPDATING GLOBAL
COMPLIANCE POLICIES

The country remains less reliant on oil revenue than the rest of the Gulf States and because of the sanctions has learned to rely on diverse local content. Foreign companies are seizing the opportunity ahead of their competitors. While the oil and gas sector gets the most attention, Iran’s diversified economy is attracting companies across industries. In particular, consumer-oriented sectors. At Finity Asset we can guide you through a smarter approach that will find the sweet spot: advancing ahead of competitors while sidestepping first-mover mistakes that often plague companies in unfamiliar, rapidly changing, high-stakes business environments.

OVERCOMING A LACK
OF MARKET DATA

20% of world’s oil trade passes through the Strait of Hormuz, the narrow waterway off Iran’s southern coast making it the world’s most strategic transit points. Furthermore, the International North-South Transport Corridor will make Iran a key link in connecting India, Central Asia, and Russia, while Iran’s role as part of China’s new Silk Road (especially with rail links) could boost bilateral trade between those countries to up to $600 billion. There are lucrative export and investment opportunities in Iran, which is also seeking to tap into its mineral wealth, and in emerging giants such as India, Pakistan, and Turkey, which need natural gas to fuel economic development.

FINDING THE RIGHT
LOCAL PARTNERS

One of the most rapid and cost-efficient ways to break into an international market is to find good local partners. Iran presents an important opportunity for multinational companies that operate in emerging markets. But managing expectations about the country’s trajectory is crucial for building an effective strategy. At Finity Asset we can guide you through a smart approach that will find the sweet spot: advancing ahead of competitors while sidestepping first-mover mistakes that often plague companies in unfamiliar, rapidly changing, high-stakes business environments.

RECLAIMING BRAND
EQUITY

Iranian consumers may have distorted views of legality of foreign goods that are in Iran. Senior executives are ready to trace the origins of and combat grey market trade and counterfeits of their products in Iran. Otherwise, companies risk facing challenges related to pricing, value, and positioning against competitors. Same applies to brand protection for both overseas IP owners or local IP and brand identities. How can flagships and brand stores contribute to building brands in this emerging market? We can help to understand the relationships between the brand image, brand experience, brand attitude and brand equity in the emerging Iran.

ACCESSING
FOREIGN EXCHANGE

Iran is gradually restoring banking links with the rest of the world by forging ties with smaller foreign institutions, even though large global banks are still holding back because of legal risks. Iran presents an important opportunity for multinational companies that operate in emerging markets. But managing expectations about the country’s trajectory is crucial for building an effective strategy. At Finity Asset we can guide you through a smart approach that will find the sweet spot: advancing ahead of competitors while sidestepping first-mover mistakes that often plague companies in unfamiliar, rapidly changing, high-stakes business environments.

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