Underwriters Buy $71m Bonds 

More than 80% of the bonds offered by the government was bought by underwriting financial institutions in the last weekly auction. 
In the absence of banks, underwriters bought 22 trillion rials ($71 million) bonds, accounting for 84% of the total 26.9 trillion rials ($86.5m).  
Bond auctions are a regular feature for raising funds for the government’s deficit spending. The main buyers are banks, non-bank credit institutions, investment funds and institutional investors in the stock market. The CBI holds the auctions on behalf of the Economy Ministry.