Money market indicators show flight from short term and an increase in longer term deposits.

Offering IRR 20 tr (USD 490 mn)* worth of Wheat Murabaha securities with an annual interest rate of 17% and 6-month payments was finished in less than 2 minutes.

IRR 9 tr (USD 220 mn) worth of Islamic treasury bills (TB611) with a 13-month maturity is listed in Farabourse market.

A CBI’s report published on November 13th indicated that as a result of lowering interest rates, long-term deposits grew by 37% while short-term deposits shrank by 25%. However, total value of deposits increased by 1%.

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