The Central Bank of Iran issued 32.5 trillion rials ($1.07 billion at the official exchange rate) worth of participatory bonds in the last fiscal year (ended March 2015). According to CBI data, government bonds amounted to 15 trillion rials ($495 million), equal to 44% of the bonds issued. Municipalities also issued 17.5 trillion rials ($577.5 million) in participatory bonds for developing urban and suburban railroads.
