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$8.4b Worth of ITBs to Be Issued by Yearend

$8.4b Worth of ITBs to Be Issued by Yearend$8.4b Worth of ITBs to Be Issued by Yearend

The government plans to issue 345 trillion rials ($8.41 billion) of Islamic Treasury Bonds by the end of the current fiscal year (March 21, 2017-18), head of Securities and Exchange Organization Shapour Mohammadi has announced. Iran’s debt market was host to 50 trillion rials ($1.21 billion) of Islamic Treasury Bills in 2015-16 fiscal year, and about 350 trillion rials ($8.53 billion) the year after. Iran’s treasury sold its first batch Islamic Treasury Bills to domestic investors in September 2015. The bonds were given as debt repayment to contractors who had the option to resell them in the Iran Fara Bourse over-the-counter market or wait and redeem them at maturity.

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