MCC Okays Bond Issuance by Banks

The Money and Credit Council, the top banking and monetary decision-making body, gave banks the go-ahead to issue bonds to meet their financial needs. 
According to a press release posted on the Central Bank of Iran website, lenders can issue bonds of their own and offer it in the secondary market. 
Bond issuance by banks and credit institutions is subject to CBI approval. Up until now, lenders were not allowed to issue bonds and the bond market was dominated by the government. A limited number of big state-controlled listed companies were also allowed to issue bonds after putting robust collateral.