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New Equity-Based Sukuk Makes Debut in Iran

New Equity-Based Sukuk Makes Debut New Equity-Based Sukuk Makes Debut

The government is set to clear part of its debt to Social Security Organization by issuing up to 50 trillion rials ($1.1 billion) of debt securities, the first batch of which was issued on the capital market by Amin Investment Bank on Sunday.

The first batch comprised 10 trillion rials ($222.2 million) worth of one-year equity-based Ijarah sukuk bearing 20% interest, backed by Tamin Petroleum & Petrochemical Investment Company’s shares owned by SSO.

This is the first time this type of Islamic debt security is being introduced to the capital market...

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