Government to Issue $442m Sukuk Securities

The government will issue 49.9 trillion rials ($442 million) in Manfa’at Sukuk securities for its budgeting needs for this fiscal year (March 2019-20).   
Bonds will be issued on the request of the Economy Ministry and Iran Fara Bourse, the over-the counter stock market,  according to a notice published on the IFB website. 
Bonds mature in three years and interest will be paid every six months by the Central Securities Depository of Iran, the capital market’s clearing house.  The notice did not elaborate on the interest rates.