According to CBI report on loan facilities, banks are further increasing their already high share in financing the economy.
Pointing to the high volume of property and assets of the state, Vice President of Legal Affairs acknowledged the feasibility of issuing bonds such as Sukuk with backing of these assets. Golgohar Mining and Industrial Standard Parallel Salaf bonds with total value of 1,219 bn (USD 30 mn) will settle through its embedded put option at a 19% premium. According to the Central Bank, banks’ facilities for various sectors of the economy have increased by 16% year-on-year to IRR 2704.2 tr (USD 67 bn) in the first six months of this Persian calendar year. Bank loans account for 96% of total debt financing.Download the full report (PDF)