83112
Manfa’ah sukuk are meant to pick up where the recently issued banks’ certificates of deposit with 20% interest left off.
Manfa’ah sukuk are meant to pick up where the recently issued banks’ certificates of deposit with 20% interest left off.
Wednesday, March 07, 2018

New Form of Islamic Bond Makes Debut at Iran Fara Bourse

The new 42-month bonds, bearing a maximum of 20.1% annual interest, will be backed by 51 trillion rials ($1.13 billion) of government revenues
Risk-free, high-return investment options such as certificates of deposit and government bonds would naturally make investors shy away from risky options such as equity market investment
Wednesday, March 07, 2018

New Form of Islamic Bond Makes Debut at Iran Fara Bourse

The Iranian capital market hosted a new type of Islamic debt security on Tuesday, as the government issued 30 trillion rials (about $670 million) worth of Manfa’ah sukuk at the over-the-counter exchange Iran Fara Bourse.
The 42-month bonds, bearing a maximum of 20.1% annual interest, will be backed by 51 trillion rials ($1.13 billion) of government revenues sourced from 100% of state-exclusive profits in National Iranian Oil Refining & Distribution Company and Telecommunications Infrastructure Company, as well as 78% in National Iranian Gas Company, Gholamreza Aboutorabi, the head of Capital Market Central Asset Management Company, announced.
Each Manfa’ah sukuk is priced at 1 million rials ($22.2).
Manfa’ah or usufruct sukuk are valuable financial deeds that indicate the ownership of the holder on a certain service or future profits of a durable asset.

Premium

To continue reading this article log in to your account, or join us now and get a free trial which includes access to this specific story.

You will not be charged for your trial and there is no obligation to purchase.

Create an account or sign in

Short URL : https://goo.gl/ocALUL
03/07/2018
  1. https://goo.gl/VFNs5h
  • https://goo.gl/nJZ3Cs
  • https://goo.gl/A6kJg6
  • https://goo.gl/Q2cG4q
  • https://goo.gl/Fv6CVS

You can also read ...

Calls for Changing Forex Policy
As Iran is dealing with the ramifications of the government's...
French Business Chief in Iran Sees Bleak European Prospects
The head of France’s business lobby in Iran said on Friday EU...
Maersk Tankers Ends Iran Shipping
Danish shipping group Maersk Tankers on Thursday said it would...
BMI: US Deal Pullout to Have Limited Impact on Mining Industry
The reimposition of US sanctions on Iran will only have a...
S. Korea Discusses Contingency Plans on Iran Sanctions
The South Korean government held an inter-agency meeting on...
The reduction of the available volumes of semi-finished steel from Iran is expected to influence billet and slab prices  in the global market, pushing them upward.
Iranian steelmakers and customers in major outlet regions such...
Global insurers are reviewing the effects of US pullout from the Iran deal.
Global insurers are taking stock of how the US withdrawal from...
Citroen Presells 2,000 C3s in Iran Debut
Through a joint venture with Iranian carmaker SAIPA, French...

Add new comment

Trending

Googleplus