CBI Wants Banks to Buy Bonds

Governor of the Central Bank of Iran says lenders should use a fraction of their financial reserves to buy bonds issued by the government. 
“Banks and credit institutions are obliged to show government bond holdings as a percentage of their deposits in the balance sheets,” Abdolnasser Hemmati was quoted as saying by the CBI website. He did not elaborate nor say how much banks need to allocate for bond buying. 
“This is part of the CBI’s new monetary policy and in line with macroeconomic precautionary measures”, Hemmati added.