Iran to issue Sukuk securities to fund oil, gas projects

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Dubai – Iran plans to issue Sukuk securities worth up to $217 million to fund oil and natural gas projects, state-run energy news service, SHANA, reported on Saturday.

Vice President Eshaq Jahangiri signed off on a decision, authorised under the annual state budget.

The authorisation allows the oil, energy and industry ministries to issue the Sukuk.

Sukuk is an Islamic sharia-compliant bond, worth up to 35 trillion rials ($217 million at the free market exchange rate) for gas and oil projects, it said.

(Reuters/NAN)


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