16416
Gov’t Fails  to Issue Sukuk
Economy, Business And Markets

Gov’t Fails to Issue Sukuk

One year after the government expressed its intention to issue sukuk or Islamic bonds as a tool to clear its debts, no serious action has yet been taken in this regard, Financial Tribune sister website Eghtesad News wrote in a disapproving article on Saturday. Government’s debts to banks and contractors of development projects have weighed heavily on the economy and the banking system, the report said. Last year, the minister of roads and urban development said sukuk is the only option the government has to clear its 20 quadrillion rial debt to the contractors. Despite President Hassan Rouhani’s promise to help resolve the issue, the struggling banks still await the government to repay its massive debt. Ejare, Morabehe and participatory bonds are among the financial Islamic bonds that are issued occasionally by state-run companies to raise funds. Under the law, the bonds can only be issued for three asset groups: land, buildings and machinery.

Short URL : http://goo.gl/Ysz4AH

You can also read ...

Valiollah Seif
Governor of the Central Bank of Iran said on Wednesday anti-...
Nat’l Virtual Currency in the Offing
Months after the idea was first publicized, it seems that Iran...
5th Indian Wheat Cargo Arrives for Afghanistan in Chabahar
India’s fifth consignment of wheat to be sent to Afghanistan...
Presale Crosses  96,000 Gold Coins
The presale of Bahar Azadi gold coins priced at 14 million...
Spanish Foreign Minister Alfonso Dastis met with President Hassan Rouhani on Feb, 21.
Foreign ministers of the Netherlands and Spain are in Tehran...
Lexus’ New Crossover to Break Cover  in March
Lexus will pull the covers off of the production version of...
The government has required car importers to pay the higher tariffs announced in January.
The government has finally allowed the clearance of imported...
Bank Loans Top $100b in 10 Months
Banks and credit institutions doled out more than 4.62...

Trending

Googleplus