TASNIM NEWS reports the Central Bank of Iran (CBI) said it has no current plan to issue foreign-exchange (FX) pre-sale bonds. Responding to reports that the Iran Mercantile Exchange has begun steps to design and issue such bonds, the CBI said under Article 44(h) of the Central Bank Law only the CBI Supreme Council is authorized to approve regulatory rules for FX-based financial instruments and FX derivatives; any design or issuance must occur within the Supreme Council’s approved framework and c

TASNIM NEWS reports the Central Bank of Iran (CBI) said it has no current plan to issue foreign-exchange (FX) pre-sale bonds. Responding to reports that the Iran Mercantile Exchange has begun steps to design and issue such bonds, the CBI said under Article 44(h) of the Central Bank Law only the CBI Supreme Council is authorized to approve regulatory rules for FX-based financial instruments and FX derivatives; any design or issuance must occur within the Supreme Council’s approved framework and comply with law. The CBI reiterated it currently has no plans to develop the capital market or to issue foreign-currency debt instruments, including FX pre-sale bonds.