2 New Islamic Bonds
Economy, Business And Markets

2 New Islamic Bonds

The Securities and Exchange Organization has given the green light to the issuance of two new sukuks (Islamic bonds) in Iran Fara Bourse (over-the-counter market). Three investment banks Mellat, Arman-Ati and Novin will handle the sale of the upcoming bonds. Miner NIMIDCO is to issue 1.62 trillion rials ($46.6 million at market exchange rate) worth of Estesna’ sukuk to raise funds for building an iron ore concentrate and pellet plant, which will earn 23% interest per year, paid quarterly and have a three-year maturity. Dana Energy Group will issue 650 billion rials ($18.7 million) worth of Ejare sukuk, to buy a drilling rig, which will mature in four years and pay 21% per annum. The interest will also be paid quarterly.

Short URL : https://goo.gl/wYWrbB
  1. https://goo.gl/BQ1PMo
  • https://goo.gl/B6jAAv
  • https://goo.gl/J2bPdQ
  • https://goo.gl/A6y93B
  • https://goo.gl/I7rEkN

You can also read ...

Alcatel’s Android Go Cellphone in the Offing
Two of the phones Alcatel revealed last month will be coming...
NASA Seeks Help to Check Satellites
NASA is asking all cloud gazers to snap photos of the sky and...
Iran has signed a contract with China Railway Group Limited in 2015 to build a 415-km (260-mile) high-speed north-south rail line between Tehran and Isfahan via Qom.
The Economy Ministry sold 2 trillion rials ($41.6 million) of...
Trade With Afghanistan Tops $2b
Iran and Afghanistan exchanged 5.32 million tons of non-oil...
Banque Delubac Ready to Service Iranian Businesses
Executives with Banque Delubac and Cie, an independent French...
Iran-Lithuania Trade Falls 44% in 2017
Trade between Iran and Lithuania stood at more than €11.1...
$92m Worth of Gov’t Debts to Be Cleared in Swap Deal
The government has decided to clear over 4.45 trillion rials...
Gov’t, Workers, Employers Deadlocked in Setting Minimum Wage
With only a day left for the Supreme Labor Council to set the...