Iran to issue Islamic bonds

[joeblow]

Iran to issue Islamic bonds
Sun, 20 Dec 2009 11:01:43 GMT

http://www.presstv.com/detail.aspx?id=1 ... id=3510213



Islamic Development Bank

Iran is to issue Islamic bonds worth 2.5 billion euros during the current year, with the amount of bonds to be issued reaching 5 billion euros next year.

"The government of Iran guarantees the bonds' interest," said Iranian Minister of Economics and Finance Affairs, Seyyed Shamseddin Hosseini, in a meeting with deputy head of the Islamic Development Bank (IDB), Abdullah Aziz al-Hanavi.

Hosseini suggested that the IDB could buy the bonds and sell them on international exchanges.

Mentioning Iran as one of few countries implementing an Islamic banking system, the Minister said that his country is ready to promote various services of the IDB.

He added that as an important member of the IDB, Iran is ready to increase its share in the bank.

MVZ/JG