Investors in Iran Buy Bonds Worth $2.2 Billion in Ten Auctions

The government so far has generated 500 trillion rials ($2.2 billion) from Islamic bonds in ten weekly auctions held by the Central Bank of Iran every Tuesday since early June.  
The auctions are intended to raise funds for government spending amid deep declines in national revenue and the perennial budget deficits. 
In a press release published on the its website, the CBI said banks were the main purchasers of the bonds and bought 361 trillion rials (1.5 billion), accounting for 72.4% of the total bond sale. 
After banks, retail and institutional investors in the stock market were buyers of bonds worth 112 trillion rials, or 22.5% of the total. Finally investment companies bought bonds valued at 25 trillion rials.