Sukuk in Iran’s Capital Market Top $3b

The value of Islamic bonds issued in Iran’s capital market has reached 120 trillion rials ($3.17 billion), chief executive of the Central Securities Depository of Iran, Mohammad Reza Mohseni, said.

Financial Tribune – The value of Islamic bonds issued in Iran’s capital market has reached 120 trillion rials ($3.17 billion), chief executive of the Central Securities Depository of Iran, Mohammad Reza Mohseni, said.

The value, he added, is set to grow in the near future, as Raja Rail Transportation Company is scheduled to issue 760 billion rials ($20.1 million) worth of sukuk with a maturity period of five years and a 16% yield, Mehr News Agency reported.

Automaker SAIPA and its after-sales subsidiary SAIPA Yadak have issued 3.5 trillion ($92.5 million) and 850 billion rials ($22.48 million) worth of Islamic bonds respectively in the current Iranian year (started March 21).

Financial Tribune
Publish Date: Aug 19, 2017