Iran Gov’t Earns $300m in First Bond Auction

In the first Central Bank of Iran auction of Islamic bonds on Tuesday, the government generated 51 trillion rials ($300 million).
The move to open a primary interbank market for bond auctions is a CBI initiative to help the government raise funds for budgetary needs as it struggles with rising deficits.
As per an earlier announcement, the government put on offer Murabeha bonds worth 100 trillion rials ($588 million) and asked banks to put in their bids via the interbank trading platform. 
As per the auction rules, bids are processed by the CBI’s brokerage arm and will be sent to the Economy Ministry for approval.  The brokerage firm should settle the payment in one working day.