Iran Gov’t to Issue Sukuk Worth $6b Next Year

The government will issue 260 trillion rials ($6 billion) worth of Islamic bonds (sukuk) in the next fiscal year (starting March 21, 2018) to fund its incomplete projects, according to the new budget bill presented to the parliament on Sunday. “The projected debt issuance is 30% higher compared to what was forecast for the current year,” Managing Director of Central Securities Depository of Iran Gholamreza Aboutorabi was quoted as saying by Securities and Exchange News Agency.