Iranian banks are no longer able to pay daily interest on short term deposits
- The Central Bank of Iran obliged Iranian Banks to no longer pay daily interest on short-term deposits. This instruction will be applied from February 2019 and the interest payment would change from daily to monthly base.
- There were two new batches of Islamic Treasury Bills listed on Iran Fara Bourse with total value of IRR 24,000 bn. TB44 and TB45 have maturity of 34 and 12 months respectively.
- According to article of 2019/20 Iran Budget Bill, IRR 510,000 bn worth of government revenue will be generated from liquidation of financial assets, from which IRR 440,000 bn is accounted for Islamic securities.
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