En | Fa
Releases
Feb 5,2019

10 trillion rials Manfa’ah Bonds to Help Finance Oil Projects

Manfa’ah Sukuk worth 10 trillion rials ($86 million) were sold Monday in Iran Fara Bourse stock exchange to help finance oil projects.  

According to the Security and Exchange News Agency (SENA), the bonds were sold for the first time via a consortium comprising Tamadon Investment Bank as the leading investment company in charge of asset management and share subscription plus Parsian Lotus, Mellat, Omid, Kardan, Amin, and Noving investment companies. 

Manfa’ah Sukuk is a security which states one’s ownership of a certain service or future profit of a lasting commodity transferred for a certain price. The security can help meet businesses’ immediate needs for liquidity with no access to an end-user to finance their operations.

According to a notice published on the IFB website, 10 million Manfa’ah bonds, each worth 1 million rials, were sold in IFB’s Structured Financial Products market. The bonds mature in 3 years with 19% interest to be paid every six months from the date of issue.

Tamadon company sold four trillion rials worth of shares followed by Parsian Lotus with two trillion rials. Mellat, Omid, and Kardan each 1 trillion rials and Amin and Novin 500 billion rials each worth of Manfa’ah bonds.

According to SENA, the national Iranian Oil Company has guaranteed the payment of the principal bonds and the Oil Industry Pension Fund is committed to paying the interest.

 

Source: Financial Tribune

Home
About Us
CEO Message
Mission & Goals
Organization
Board of Directors
Management Team
Board Committees
Organizational Structure
Markets
Equity Market
UTP (Unlisted Trading Privileges) Market (Base Market)
Structured Financial Product Market (SFP)
Derivatives Market
OTC Market
Rules
Acts
Bylaws
Regulations
Official Holidays
Membership
Gallery
Careers
How To Trade
Our Technology
Clearing & Settlement
Trading Hours
List Of Members
Membership Reqs
Surveillance Of Members
Historical Data
Index
Report
Debt Instruments YTM
Equity
Listed Companies
Unlisted Companies
IPOs
Moved to Tehran Stock Exchange
Sukuk
Murabaha
Ijara
Musharaka
Manfa'at
Istisna
Mortgage Backed Security (MBS)
Certificate of Deposit (CD)
Housing Mortgage Right (HMR)
Introduction
Structure
Process
Exchange Traded Fund (ETF)
Exchange Traded Project Fund (ETPF)
Construction Fund
Intellectual Property (IP)
Islamic Treasury Bill(ITB)
Introduction
Structure
Process
News
Annual Report
Videos