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Executive instructions for the sale of foreign exchange bonds were announced

According to the report of Iran Economist, citing the public relations of the central bank, with the aim of strengthening the formation of fixed capital and providing foreign exchange resources to complete the national currency exchange projects, the bank agreed to issue a license for the sale of foreign exchange bonds through the Iranian currency and gold exchange center in accordance with the executive instructions. (Subject of Circular No. 86290/02 dated 14.4.1402), in order to implement or complete the profitable economic and industrial projects of the private sector inside the country.

According to this instruction, foreign exchange murabaha bonds are foreign currency securities that show the joint ownership of its holder in a financial or religious asset obtained based on a murabaha contract, and the holder of the bonds is the owner and creditor of that religion, and the offering of these bonds is only by the issuer. It is allowed with the permission of the Central Bank Currency Commission.

Also, the ceiling of the amount of offering foreign exchange bonds for each project is 200 million euros, which can be increased to higher amounts at the discretion and obtaining the permission of the Foreign Exchange Commission.

The purchase of bonds from foreign exchange sources is subject to the fulfillment of export foreign exchange obligations, and the maturity of the bonds is at least one and at most 4 years, and the annual interest for one-year euro bonds is at most 5%; Two-year bonds, maximum 5.25%; Three-year and four-year bonds are set at a maximum of 5.5% and interest payments will be made in one-year terms.

The request for the release of the mentioned papers for the financing of several projects has been made and the relevant steps are underway.

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