Details of the amount of transactions of coins and currency certificates / the possibility of delivering coins and dollar bills to buyers

According to Fars news agency, citing the Central Bank’s public relations, if the buyers of coins and currency certificates demand it, the possibility of delivering the purchased coins and currency notes to the customer at the due date is considered.

Central Bank coins are exempt from tax and all natural persons can buy these bonds for a maximum of 100 coins of the new plan, as well as gold investment funds without restrictions.

The maturity date of Central Bank’s coin bonds is 6 months after the initial offering, with cash settlement, and the cash settlement price of the bonds is equal to the weighted average of the closing prices of all banks’ coin deposit certificates and Central Bank’s coin bonds in the Iran Commodity Exchange in the last session. It will be transactional and if the customer demands, the possibility of delivering the purchased coin to the customer is considered.

The secondary trading of Central Coin Bonds is done in the Iran Commodity Exchange, and bond holders, if they wish to sell bonds earlier than maturity, can sell their coin bonds in the Iran Commodity Exchange at the daily price.

The Central Bank of the Islamic Republic of Iran undertakes the cash settlement of the bonds at maturity and also the liquidity of these bonds in the secondary market of the Iran Commodity Exchange at the daily price.

It should be noted that, in addition to the possibility of investing in gold, Central Bank’s coins also have the ability to be validated in the banking network to obtain various types of facilities.

Also, the minimum and maximum purchase amount of foreign exchange certificates by any natural person is equivalent to 1000 dollars and 4000 dollars, respectively. The payment for the bonds at the time of publication will be in Rials only. The central bank acts as a proxy for the bond buyers, to provide currency (dollars) and keep it until the maturity of the bonds.

Also, holders of currency certificates can receive currency notes from the bank at the maturity date by paying the specified attorney’s fee.

Executive details and regulations for issuance of Central Bank currency certificates

1- The issuer of the bonds is the central bank through the agent bank.

2- Named bonds can only and originally be purchased by Iranian natural persons over 18 years of age, and their issuance and maturity date will be 8/25/1401 and 11/25/1401, respectively.

3- The minimum and maximum purchase amount of bonds by any natural person is equivalent to 1000 dollars and 4000 dollars, respectively. In addition, due to the limitation of the supply of banknotes less than 100 dollars, the amounts of the aforementioned Mudarabi certificates can be sold and redeemed from the Rial equivalent of 100 dollars.

4- The payment of the bonds at the time of publication will be in Rials only.

5- The central bank acts as a proxy for the bond buyers to provide currency (dollars) and keep it until the maturity of the bonds.

Note: Bonds can be redeemed by the agent bank on behalf of the central bank before maturity according to paragraph (9).

6- Holders of bonds at maturity can choose one of the following methods:

a) Paying the attorney’s fees mentioned in the note under this paragraph and receiving currency notes (dollars) from the bank

b) Cash settlement (riyals), in which case no attorney’s fees will be charged.

Note: The attorney’s fee rate will be equal to seven percent (7%) of the Riyal amount at the time of maturity mentioned in paragraph (7).

7- The calculation basis for determining the amount of Rials at the time of redemption, maturity and release of bonds is the closing rate of the previous day’s agreed dollar (bill).

Note: The closing rate of the previous day’s agreed dollar symbol (bill) of the foreign exchange market (the weighted average of the previous day’s agreed dollar symbol transactions) can be viewed on the information base of the Iranian Foreign Exchange Market Management Company at the address www.ice.ir.

8- The operating bank is obliged to deposit the Riyal resources obtained from the sale of these bonds on a weekly basis, after making the necessary coordination with the foreign exchange operations department of this bank, to the accounts introduced with the Riyal transactions department of the Central Bank.

9- In case of the bond holder’s request to redeem the bonds, the operating bank is obliged to settle the account with the bond holder on the same day according to sub-section (b) of clause (6) and based on the arrangements of clause (7).

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