The 19th auction of government Islamic securities will be held on November 16th
According to the central bank, the auction will be held by the central bank brokerage for sale to banks, non-bank credit institutions, investment funds, insurance companies and financing companies.
According to the Ministry of Economic Affairs and Finance, the bonds offered in this auction are public Murabaha, with coupons and with a six-month interest payment (coupon payment twice a year).
This auction will be held with the symbol Arad 91 and Arad 92 and with a nominal interest rate of 15 and 16 percent, respectively. The price of each sheet is one million rials in the amount of 50,000 billion rials.
Banks and non-bank credit institutions applying for participation in this auction can send their orders until 12 noon on Sunday, November 23, 1400 only through the interbank market system.
Also, investment funds and capital supply companies applying for participation in this auction can register their orders until 12 noon on Sunday, November 14, 1400 through the quotation system of the Tehran Stock Exchange Technology Management Company. The transactions related to this auction will be done on Tuesday, November 16, 1400.
Accordingly, all financial institutions applying to participate in this auction can send their orders in each symbol separately. The minimum order volume in each of these symbols is 500,000 sheets.
The Ministry of Economic Affairs and Finance is the main custodian of the issuance and issuance of Islamic government bonds, and that ministry is not required to accept all bids received or sell all bonds offered at auction. The Central Bank also sends only the received orders to that ministry for decision making and the said ministry determines the winning orders. Finally, the bonds are offered to all winners.
According to the budget law of 1400, the Central Bank is allowed to buy and sell Islamic financial securities of the government in the secondary securities market. The brokerage of this bank, while providing the infrastructure for transactions and holding auctions, has no obligation to the volume and price of government Islamic financial securities sold and will not buy these securities in the primary market in order to finance the government.
The 19th stage of the auction was supposed to be held on November 9, but was canceled before the performance.
In the 18th stage of the auction of financial and Islamic securities, all securities offered by banks and other real and legal buyers were purchased. The sale value of government financial and Islamic securities was 108 thousand billion rials.