CBI’s directive to banks to accept Islamic treasury bills as collateral
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- According to 2018/19 budget bill, the Iranian oil ministry is authorized to issue foreign or domestic currency Sukuks, up to a cap of USD 3 bn for investment in oil and gas projects.
- SEO’s juridical committee announced it’s compliance with including coupons in Islamic treasury bills to further gain investors’ and contractors’ interest.
- The Central Bank of Iran has sent a directive to banks obliging them to accept Islamic bonds as collateral on loans from contractors of development projects.