Kian Debt Market Observer

According to the governor of Central Bank of Iran, banks and credit institutions are not allowed to pay more than 15% interest on deposits, the rate approved by the Money and Credit Council. The final interest rate on deposits will be determined based on the financial statements of the banks after the end of their fiscal year.

According to an executive board member of the Parliament Economic Commission, although it appears that there have not been any borrowings from the Central Bank over the past four years, the government’s debt has increased by 250% through the issuance of Sukuk.

CEO of Central Securities Depository of Iran stated that following the facilitation of Issuing Sokukin order to expedite financing of large enterprises, the value of papers issued in 2016 has grown by 14 times, reaching more than IRR 83 tr (USD 2.2 bn) in 2017.

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