Iranian banks start offering $2 billion in bonds

Business Materials 15 December 2012 10:58 (UTC +04:00)

Azerbaijan, Baku, Dec. 15/ Trend G.Mehdi/

The Central Bank of Iran started offering 25 trillion rials (about $2 billion) in bonds on Saturday for a week, IRNA reported.

The bonds will be sold at Melli, Saderat, Tejarat, Mellat, Pasargad, Sina, and Parsian bank branches and will be accrued 20 percent on-account annual profit.

Iran issued totally 175 trillion rials (about $14.2 billion) in bonds in the past Iranian calendar year, which ended on March 19, and sold around 156 trillion rials of the bonds, ILNA quoted Central Bank deputy director Ali-Asghar Abolhassani as saying on December 8.

Some 22.5 trillion rials (about $1.85 billion) worth of bonds were issued in the first quarter of the current Iranian calendar year, of which 14.6 trillion rials (about $1.2 billion) were sold, he added.

On May 26, Central Bank Governor Mahmoud Bahmani said that Iran plans to issue 250 trillion rials (some $20.3 billion) in bonds in the current calendar year to support domestic production and help regulate liquidity growth.