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Search results for : Sukuk Istisna

Home/Search Results for "Sukuk Istisna " query
mosque

Iranian Sukuk securities; the practical issuance flowchart!

by Alireza Hojjatniadate: 3 March 2018in Debt Market No Comments

Iranian Sukuk securities; the practical issuance flowchart!

Islamic bonds, structured in such a way as to generate returns to investors without infringing Islamic law (that prohibits riba or interest).

Sukuk securities represent undivided shares in the ownership of tangible assets relating to particular projects or special investment activity. A Sukuk investor has a common share in the ownership of the assets linked to the investment although this does not represent a debt owed to the issuer of the bond.

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Iran Fara Bourse

New Corporate Sukuks on Iran Fara Bourse! – Daily Market News

by Mojde Rezaeedate: 8 January 2018in News & Reports No Comments

New corporate Sukuks on Iran Fara Bourse!

Market News

* Tejarat Kousha Sepahan, a private joint stock company active in railway transportation, succeeded to surpass the initial stages of issuing corporate Sukuk Istisna on Iran Fara Bourse to cover its IRR 768 mn (cUSD 17.64 mn) need of capitalization providing the company with 300 new Freighter wagons. These new securities have a maturity of 4 years with a nominal rate of 16%.

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Iranian capital market

Islamic Financing instruments in the Iranian capital market!

by Alireza Hojjatniadate: 11 November 2017in CapitalMarket No Comments

Islamic Financing instruments in the Iranian capital market!

by Alireza Hojjatnia

This article was first published in Islamic Finance news Volume 14 Issue 45 dated the 8th November 2017.

Finding proper financing methods has always been a challenge for businesses worldwide and Iran is no exception. Attracting more and more capital with adequate rates were, and still is, a major source of controversy among almost all Iranian business owners. Restrictions on the Iranian economy reaching the flow of international funds over recent years along with the Islamic nature of the nation made it a priority for policymakers to develop financing schemes that meet businesses’ needs and that are also Shariah compliant. It is worth mentioning that there are some small differences between Shia and Sunni Shariah laws. ALIREZA HOJJATNIA explores.

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Iran’s Capital Market

Iran’s Capital Market to Grow New Skin

by Mojde Rezaeedate: 18 January 2017in Blog, CapitalMarket No Comments

Iran’s Capital Market to Grow New Skin

 

By Mahdi Goodarzi & Mojde Rezaee

Introduction

Since the JCPOA was hit, Iran’s economy, and therefore, Iran’s capital market have entered a new phase. Calling this market as one of the highest yielding emerging markets in the world, the head of Securities and Exchange Organization of Iran (SEO) assured investors, both domestic and foreign, that attempts are to uplift Iran’s capital market, providing the necessary foundations and infrastructures.

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hotel-sign

“Homa” chained hotels to go public! – Daily Market News

by Alireza Hojjatniadate: 2 October 2016in News & Reports No Comments

Market News

“Homa” chained hotels to go public!

IRR 1,960 bn worth in capital, “Homa” hotels Group is to offer 10% of the shares on TSE and to be named the first of industry going public. The group is in position of 5 hotels on Tehran, Shiraz, Bandar Abbas and Mashhad with a total sum of 788 rooms. Social Security Organization is the major shareholder and they are only willing to sell 10% on the market.

Maxed out YTM!

According to the trade summaries by IFB, currently there are 18 active debt securities on the market and amid those “NIMIDCO” Musharaka is on the top of return list with a nominal rate of 23%. “Rayan Saipa” placed the second with 22% and quarterly coupon payments. The others will return between 18 to 21% and have monthly coupons.

However, the YTM on this issues has a different story. Istisna Sukuks of NIMIDCO, “SMLQ1”, if held up until the maturity, will yield 25.09 while Mashhad Municipal Musharaka has only 19.22% YTM and placed the last on the list. Sina Daroo will return 21.53% and Kaveh Kish Steel has an YTM of 20.31%.

Fifteen out of eighteen have the yield to maturity of less than 20% based on the current price levels.

The 3rd land & construction investment fund licensed!

“Naroon” land & construction investment fund got listed on TSE, as the third of its kind on Iran’s capital market, to raise IRR 182 bn funds for Arak province “Naroon residential project”. Housing investment Co. is the landlord and Maskan Investment Bank will act the fund manager.

Arak province “Naroon residential project” has 144 units and covers 20,000 m2 of area under construction.


In the Market

The stock market ended a bumpy session on a lower note with two major averages descended 0.25%. The TEDPIX (-0.25%) rallied into the early morning, but selling during the final minutes of the session drove the index down to stand on 77,287.60. Weighted TEDPIX also lost slim (-0.04%) for today, ended on 15,050.00.

 “Saipa” dominated headlines for the third day in a row. More than 250 mn shares of Auto giant changed hands and the ticker closed at IRR 1,358 with almost 74 mn purchase orders in the queue. Iran Khodro on the other hand lost near 1.5% on the closing (IRR 3,168) with a volume of 18 mn. “Zamyad” and “Bahman” followed the trend as well.

 Elsewhere, the top-weighted oil products sector finished in the lower end of the pack, masking relative weakness among the giants. Bandar Abbas and Isfahan Oil refineries were the leaders of downward trend and stamped 31.62 and 23.16 negative points on TEDPIX respectively. Tehran and Lavan oil refineries also lost big on today’s affair, whereas Tabriz and Shiraz refineries compensated for the whole sector. Near 1.6 mn shares of “PNTB1” traded today and the ticker closed at IRR 4,789 (+2.03%).

 On the metals sector, despite the fact that global prices mostly rose, 7.2 mn shares of Isfahan Mubaraka steel traded on -2.26% today and the ticker closed at IRR 1,212 and stamped -50.67 pints on the main index. Almost all other steel makers followed the trend.

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DISCLAIMER:  This report has been prepared and issued by Agah Brokerage Firm on the basis of publicly available information, internally developed data and other sources believed to be reliable. The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. Agah does not assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Any expressions of opinions are subject to change without notice. 

To contact reporters: inter@agah.com

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Daily, Market, News, 26 September 2016, Iran, TSE, IFB, Agah Group,

Debt Market Turn to Weigh In – Daily Market News

by Mojde Rezaeedate: 26 September 2016in News & Reports No Comments

Market News

Financing is interpreted as one of the main concerns among enterprises for which the debt market offers a huge potential in the world. In Iran, the banking system is traditionally the number one financer, which itself is now facing challengers due to the increase in delayed debts from the government and deposit interest rate controlling by decree.

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Daily, Market, News, 7 October 2015, Iran, TSE, IFB,

More Financial Instruments on the Way – Daily Market News

by Mojde Rezaeedate: 7 October 2015in News & Reports No Comments

SEO announced its agreement for issuance of two different sukuks, namely Istisna’, a contract of exchange with deferred delivery, applied to specified made-to-order items and Ijarah, quite similar to financial leasing in Fara Bourse of Iran. National Industrial and Mining Company will publish Istinsa’ sukuks, amounting to 1,620 IRR bn to construct industrial structures of its concentrate and pellet factories, each having production capacity of 5.2 million annually.  These are bearer papers, with yield rate of 23% (payable every quarterly) and 3-year maturity date.

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