Kian Debt Market Observer

CBI to reduce speculation in the foreign exchange market

  • Banks will be able to issue Deposit Certificate (Rial-Based) with maturity period of one year and interest rate of 20% for 2 weeks starting from Saturday (Feb 17, 2018).
  • Having CBI approval, banks can issue one-year and two-year Dual Currency Deposit Certificates. At maturity, the deposit amount will be paid in equivalent currency or Rial to the bondholder with the interest rate of 4% and 4.5%, respectively.
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