Iran: Participatory Bonds Generate $394m in 7 Months

A report by the Central Bank of Iran shows that out of a total of 51 trillion rials ($504.9 million) worth of participatory bonds, 39.8 trillion rials ($394 million) were bought by investors in the first seven months of the current fiscal that started in March. 
Issuers were largely from the public sector including the government, which issued participatory bonds via the Economy Ministry to finance development projects.  Municipalities from Tehran, Isfahan, Mashhad, Ahvaz, and Qom also issued bonds to fund urban railroad infrastructure. 
The provisional bond yields were 15% per annum for government bonds and 20% for municipality bonds with maximum four-year maturities.