Salaf Contracts Help  Fund Power Projects

Thermal Power Plant Holding Company plans to sell standard salaf contracts worth 13.57 trillion rials ($52 million) in two phases to fund new projects, the company's CEO said.  
Affiliated to the Energy Ministry, TPPHC sold salaf contracts worth 6.57 trillion rials ($26.2 million) on Tuesday in the first offer. No date was specified for the next round.
Salaf contracts were offered at Iran Energy Exchange, according to Mohsen Tarztalab, IRNA reported. Standard parallel salaf is an Islamic contract similar to futures with the difference being that the total price should be paid in advance.
The electricity-backed Salaf securities are offered on the derivatives market at IRENEX, which is a commodity exchange in Iran where physical energy carriers (oil, gas, electricity) and commodity-based securities are traded.