Iran Mercantile Exchange Introduces New Financial Instruments

Iran Mercantile Exchange plans to expand its underlying assets based on new financial instruments, the IME chief said. 
Hamed Soltaninezhad referred to the launching of Dayn (debt) securities, tender-based trade, one-day future contracts and royalty securities as new financial instruments to be put into effect in the current fiscal (started March 21), IRIB news agency reported.  
Buying dayn, or Bai’al-Dayn, is a kind of trade that involves the sale and purchase of securities or debt certificate according to Islamic law. Securities or DPs will be issued by debtors to creditors as evidence of indebtedness.  
The IME chief said earlier that trading in Dayn securities will help enhance liquidation of frozen financial assets of producers and expressed the hope that trade in this security will ease the mounting financial constraints of businesses.