Offering a special deposit certificate with a 30% interest rate

According to Iran Economist, citing the public relations of the central bank, based on the instructions for the issuance of special deposit certificates that have been communicated to the banking network, banks can issue these bonds to provide working capital for high-yield projects, and at the end of the participation period, they will receive a fixed profit. Also, in addition to the 30% accrued interest, buyers of this certificate of deposit are paid in bank branches.

The distinctive feature of this certificate of deposit is that it is possible to redeem it before maturity at bank branches. With the implementation of this plan, people’s participation in financing the country’s production plans is provided. Holders of this certificate can use it as collateral to receive bank facilities.

Banks are allowed to sell these bonds for 7 working days from Wednesday 11th of Bahman 1402. The supply program and selection of their selected branches will be notified by the operating banks.

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