EghtesadOnline: The Securities and Exchange Organization has given the go-ahead to the High Council of Free Zones to issue 3,000 billion rials ($26.2 million) worth of sukuk (Islamic debt securities) to finance development projects in Kish Free Trade Zone, which could rise to 10,000 billion rials ($87.3 million), Secretary of High Council of Free Zones Morteza Bank said.
EghtesadOnline: The Central Bank of Iran has sent a directive to banks and credit institutions obliging agent banks to accept Islamic bonds as collateral from contractors of development projects.
EghtesadOnline: Provisions of Note 5 of next year’s budget give details about Islamic bonds the government intends to issue in the next fiscal year that begins in March 2019.
EghtesadOnline: Head of the Security and Exchange Organization Shapour Mohammadi said Monday the capital market issued 45 trillion rials ($384 billion) worth of bonds since the beginning of the current fiscal in March to help meet the financial needs of companies.
EghtesadOnline: The government has outlined new tasks for state-owned companies, banks and for-profit institutions as part of a directive for the next fiscal (March 2019-20) budget.
EghtesadOnline: The government’s Economic Council last week approved a proposal of Minister of Roads and Urban Development Abbas Akhoundi, based on which the government is to issue 10 trillion rials ($70 million) worth of bonds and sukuk for financing Iran Air’s new plane orders.
EghtesadOnline: Iranian municipalities sold 11.99 trillion rials ($150 million) worth of Islamic debt securities during the first quarter of the current fiscal year (March 21-June 21), indicating a near doubling in sales compared with the last fiscal year’s corresponding period.
EghtesadOnline: World shares climbed for a third day running on Tuesday, as China promised fiscal action to support the world’s second-largest economy and stellar results from internet giant Alphabet underpinned the tech stocks.
EghtesadOnline: The dollar weakened and equities retreated as investors turned cautious following a seven-week surge for global stocks. Bonds gained with gold while oil fluctuated.
EghtesadOnline: It's an article of faith in the credit markets that certain fundamental forces propel the yields on government debt, specifically economic growth, state spending, inflation and central bank guidance.