Central Bank of Iran to Hold Bond Auctions

The Central Bank of Iran said it plans to open a primary interbank market for auctioning bonds to help the government raise funds for budgetary needs. 
In a notice on the CBI website, the regulator said it aims to hold the auction at the start of each trading week and on a regular basis. 
Lenders should place buy orders for government bonds through a special interbank trading platform. Orders will be processed by the CBI brokerage and sent to the Economy Ministry for selection.  The brokerage firm will settle the payment in one working day.  
The CBI says the initiative aims to boost government finances, reduce trading costs in the interbank market and facilitate access of banks and credit institutions to the bonds.