Iran Sets New Record in Issuing Sukuk over the first quarter of this year

Iran’s capital market set a new record in issuing Sukuk (Islamic bonds) , official said.

Iran’s capital market set a new record in issuing Sukuk (Islamic bonds) over the first quarter of the current Iranian calendar year (started on March 21) compared to the same period last year, official said.

Mohammad-Reza Mohseni, the managing-director of the Central Securities Depository of Iran (CSDI), said that facilitating funding sources for main economic enterprises tops the agenda of the capital market.

Minister of Economic Affairs and Finance Ali Tayyebnia two months ago commissioned Mohammad Fatanat, the head of Securities and Exchange Organization, to boost the role of capital market in funding the firms, Mohseni said, adding that upon an order by Dr. Fatanat, a special working group has been set up to explore the removal of obstacles on the way of issuance of Sukuk in the capital market.

Based on the latest statistics, issuance of Sukuk has set a new record, Mohseni said.

He noted that the overall value of Suluk issued over the past year stood at 7,279 billion rials, while just in the first quarter of the current year, over 9,600 billion rials of bonds and Morabaha securities were issued in the capital market which was unprecedented event.

Release Date: 7/5/2016

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