Municipalities Raise $340m in Bond Sales

Municipalities in big cities issued a total of 49 trillion rials ($355 million) in participatory bonds during the first nine months (March 20-Dec 21) of current fiscal year. 
According to a Central Bank of Iran report, municipalities unloaded 95% of the bonds and raised 46.95 trillion rials ($340 million) during the three fiscal quarters. 
The report covers both issued and traded bonds by municipalities and government-affiliated companies. However, data show that the government neither sold nor issued bonds during the period.