{"id":4772,"date":"2018-03-10T05:04:25","date_gmt":"2018-03-10T05:04:25","guid":{"rendered":"http:\/\/en.azpar.com\/?p=4772"},"modified":"2018-03-11T05:07:22","modified_gmt":"2018-03-11T05:07:22","slug":"iran-social-security-issues-the-first-equity-backed-sukuk-ijarah","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=4772","title":{"rendered":"Iran Social Security issues the first equity backed Sukuk Ijarah!"},"content":{"rendered":"

Market News<\/strong><\/h2>\n

\u2013 In an attempt to utilize the capacities of\u00a0Iran\u2019s Debt Market,\u00a0Social Security Organization of Iran\u00a0is to issue IRR 10,000 bn (cUSD 223.46 mn) worth of\u00a0Sukuk Ijarah\u00a0with a nominal rate of 20%, the maturity of 1 year and semi-annual coupon payments. The underlying asset is, for the first time, 7.89% of \u201cPTAP1\u2033 shares priced at IRR 1,266 per share.\u00a0Bank Refah\u00a0will act as the guarantor of this securities paying the principal and interest in case of default.<\/span><\/p>\n

\u2013 In his meeting with banks chief executives, the governor of the\u00a0Central Bank of Iran\u00a0urged banks to establish strong compliance units and implementing anti-money laundering and fighting terrorism standards. This shall be done to meet the requirements of the\u00a0FATF action plan, which has given the country time up to June to complete its measures to stay out of this body\u2019s black list.<\/p>\n

\u2013 Secondary trades of \u201cZarafshan Omid\u201d\u00a0ETC, better known as the second Iranian commodity based mutual fund, is now available on\u00a0Iran Mercantile Exchange. \u201cZARF1\u201d units were underwritten on Sep-Oct 2017 with a great interest from investors. Over 5 business days, an IRR 120 bn (cUSD 2.70 mn) figure of its units were sold to more than 5,000 individual and institutions.<\/p>\n

In the Market<\/strong><\/h2>\n

Stocks declined on today\u2019s session, fall steadily over the course of the session, as investors are pessimistic towards the future of Iran Capital Market now the risk free rates are back to +20% area. The TEDPIX crashed for -0.27% to finish at a new low (96,594.52). Meanwhile, the IFEX closed the day with a relatively positive gain of 0.38%.<\/p>\n

The Road Maintenance and Transportation Organization official website announced the signing of agreements to renovate the worn-out fleet with companies including Saipa Diesel and Zamyad; negotiations are also underway with Iran Khodro Diesel. This dragged the related symbols in the\u00a0Automotive<\/strong>\u00a0space into the green seeing demand rise.<\/p>\n

After the drop in global zinc and copper prices over that past week, zinc has now retreated to $3300 and copper has hit $6950, which resulted in a more balanced market. Despite a rather positive start, symbols listed on the\u00a0Metals<\/strong>\u00a0group failed to keep their gains. Arfa\u2019 Steel & Metal Company ticker was halted after announcing a 198% positive EPS estimates (equal to IRR 553). The reason behind this positive change is the conversion of its loan in foreign currency to domestically denominated liabilities plus its agreement signed with Bank of Industry and Mine, followed by the drop in COGS and rise in ingot sales price. The ticker returned to the market 15% higher at IRR4,047. Besides, the US President signed the document raising the duties on steel and aluminium import by 25% and 10%, respectively.<\/p>\n

Apart from Iran Manganese Mines which went up by 5%, the\u00a0Iron Ore<\/strong>\u00a0space saw negative to balanced trades. Total 1.85 million tons of iron ore has been exported in February, which registers a 16.1% rise compared to the previous month; China has been a major destination.<\/p>\n

Finally, the recently offered ticker of\u00a0Shafa Investment\u00a0in the\u00a0Pharmaceuticals<\/strong>\u00a0industry faced heavy sales pressure and eventually ended 2% higher at IRR 4,262.<\/p>\n

\"Iran\u2019s<\/a><\/p>\n

\"Iran\u2019s<\/a><\/p>\n

\"Iran\u2019s<\/a><\/p>\n

\"Iran\u2019s<\/a><\/p>\n

Source:<\/p>\n

2018, Iran Social Security issues the first equity backed Sukuk Ijarah!, Saturday, March 10, p.1,<https:\/\/agahgroup.com<\/a><\/em>><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Market News \u2013 In an attempt to utilize the capacities of\u00a0Iran\u2019s Debt Market,\u00a0Social Security Organization of Iran\u00a0is to issue IRR 10,000 bn (cUSD 223.46 mn) worth of\u00a0Sukuk Ijarah\u00a0with a nominal rate of 20%, the maturity of 1 year and semi-annual coupon payments. The underlying asset is, for the first time, 7.89% of \u201cPTAP1\u2033 shares priced […]<\/p>\n","protected":false},"author":1,"featured_media":4776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,28,31,1],"tags":[],"class_list":["post-4772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-news","category-news-events","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/4772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4772"}],"version-history":[{"count":4,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/4772\/revisions"}],"predecessor-version":[{"id":4778,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/4772\/revisions\/4778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/media\/4776"}],"wp:attachment":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}