Bourse Council Gives Ok to Tradable CDs   

The High Council of Securities and Exchange has given the go-ahead to banks to issue certificate of deposits that can be publically traded in the equities market. 
The Governor of Central Bank of Iran Ali Salehabadi made the announcement at a meeting with bank CEOs on Tuesday.  
Certificate of deposit (CD) is offered by banks and credit institutions, providing a fixed interest rate in exchange for the customer agreeing to leave a lump sum untouched for a predetermined period. 
Addressing the managers, Salehabadi said the central bank will soon announce rules for initial public offering as well as secondary trade of CDs in the equities market.