Iran issues $2.2b worth of Islamic Financial Bills
Baku, Azerbaijan, Apr. 19
By Khalid Kazimov – Trend:
The head of Iran's Securities and Exchange Organization (SEO), Shapour Mohammadi, has said that the country has issued Islamic Treasury Bills worth $2.2 billion.
According to the official, Iran over the past several years has also issued worth of $14.5 billion of Islamic financial tools, Mehr news agency reported.
He also added that the volume of issued Islamic financial tools over the last Iranian calendar year (starting March 20) has doubled compared to the preceding year.
He expressed hope that the Islamic financial tools would help to finance projects launched by the government as well as those of the private sector.
The plan and budget organization of Iran guarantees Islamic Treasury Bills, which are short-term bonds like US treasuries. They are sold below face value and bear no interest coupons.